Advice on home valuation
PUBLISHED: 11:33 25 July 2017 | UPDATED: 11:33 25 July 2017
Matthew Craker of Fine and Country agents in Brookmans Park gives an insight into the home valuation process
Having your home valued is one of the most important stages in the prepartion process of selling a property.
Each estate agent will approach valuing a property differently, but there are several key factors that many will look at when deciding the value of your home. The first is to look at the price comparable homes in the neighbourhood have sold for. This can be tricky where unique homes are concerned, but it is a good starting point. It is also crucial to consider how the market has changed since nearby sales have completed. Additional value can be added (or subtracted) for the quality of the fixtures and fittings, layout, views, number of bedrooms and other important details.
An estate agent will take a careful look at the location of the property, perhaps including the postcode. Due to where it is located, some homes are valued lower than others because of factors like crime rate, amenities and transport links, while others are valued higher because they are in desirable school catchment areas.
Once the agent arrives at a property, they will look for convenient car parking, access to the entrance, and general safety.
Once inside the property, they will consider the size of each room and square footage for the whole property. The layout of the home is also very important. Most buyers don’t want to walk from a bedroom into a lounge or a kitchen into a bathroom.
A good estate agent will have years of experience, so a little can be trusted to their instinct and gut feeling. They will share all their research, methods and findings with the client to ensure the seller has faith in the valuation and trusts the agent’s decision.
When preparing for an agent to come around to value your property, it is always useful to present the home at its best. Sellers should endeavour to present the property in its best light. They should avoid clutter and ensure that they do not obstruct any natural light entering the property. All rooms should be well lit and aired. It is also advisable to ensure the property is clean and presentable. It’s also a good idea for the homeowner to present an idea of their plans, intentions and timescales for the sale, along with any relevant property documentation such as planning permissions or guarantees for work undertaken.