Your Home’s Value: Some Useful Tips

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In this blog post, we are going to take a look at some useful tips regarding the value of your home, including various elements that impact it, and more! So, let’s get right to it…

 

Three things that impact your home’s value that you haven’t thought about

There are SO many things that can impact your home’s value. Your neighbourhood, the number of bedrooms you have, how close you are to amenities, how old your home is, and the reputation of the area… the list goes on, and on, and on! But here are three factors you may not have considered before…

• A sinister past – Gossip spreads! If some terrible crime was committed in your home once upon a time and everyone knows about it, it could impact the interest in your property. It’s better to address it and be honest. This will gain the buyer’s trust.
• Illegal home improvements – Many homeowners fall into this trap without even realising. They make improvements to their home in order to increase the value, yet if you forget to seek planning permission you can land yourself in big trouble.
• Bad taste – Well, obviously you are not going to think you have bad taste, but the buyer might! Not everyone is a fan of leopard print carpet after all! If you have quirky carpets, check out Carpet One and go for some neutral, pronto! Bad taste can actually wipe five to ten per cent off the value because the buyer sees all of the improvements they are going to have to make, as in their eyes your home is not ready to move in to.

 

Three things to do to value your home

You have decided to put your home on the market! Great, first thing is first, how much is it worth? A simple approach to take would be to simply ask an estate agent to value your home and then put it on the market for the price they have suggested. There is nothing wrong with this, but it’s definitely better to value your home based on stronger research and more opinions. Here are three steps you should take…

1. Homes sold recently – The first thing you should do is find out how much homes similar to yours have sold for lately. It is a good idea to calculate the average. House Prices and Mouse Price are good places for finding out the information you need.
2. Homes on the market – Repeat the same research process but take a look at homes that are still on the market and are similar to yours. Use Rightmove, Prime Location and Zoopla to get the information you need. Again, establish an average.
3. Estate agents valuations – Finally, get at least three estate agents to value your home, and again take the average. You can use all three figures to help you come up with a good idea of the value of your home.

 

So there you have it: some useful tips on valuing your home, as well as some things that could be having a negative factor on the asking price without you realising it!