Factors That Affect The Value Of Your Property - Tatewood
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Factors That Affect The Value Of Your Property

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There is no denying that when selling your property, you will want to get the best possible price for it. Often, homeowners rely on their current home selling for a good price otherwise they will be unable to purchase their new house. For this reason, people tend to get a property value estimate online as soon as possible when wanting to put their house on the market. When doing this, you may be wondering how the estate agent has got to the value that you’re given. 

 

As you may expect, there are many different factors that will affect the value of your property and whilst some of them will be completely out of your hands, it can be beneficial to be aware of them. Of course, there are also factors that you’re in control of and you may want to consider whether there is anything you can do to increase the value of your home before putting it on the market. So, to help homeowners who are interested in selling their home, here are some of the biggest factors that affect the value of a property. 

 

Recent sales in the local area 

 

It is likely that the sold house prices of comparable properties in the local area will affect how much your property is valued for. If there are houses down the street that are very similar to yours in size and features, it is likely that you will only be able to sell for a similar price to what they have. The local market is definitely one of the biggest factors to be aware of.

 

The location of your property 

 

Of course, location is another huge factor that will influence how much your property is worth. It is likely that your proximity to things such as shopping centres and train stations will affect the valuation. You can also expect things such as the number of local employment opportunities and the quality of local schools to play a part in the value of your property too. 

Your property’s size and potential 

 

As you may expect, the size of your property will always affect the value, no matter where you’re located. Generally speaking, you can usually expect bigger properties with more usable and livable space to be more expensive. You may find that if your property has a loft, garage or basement that can potentially be converted, this will also affect the value. 

 

The appearance of your property 

 

The overall appearance and condition of your property will always affect the value and this is something that you do have control over. Crucial parts of your property, such as the roof, the plumbing, the electrics and the windows, will make more of a difference than the cosmetics. However, the overall aesthetics, especially the exterior, are important and can also change the property price. 

Your kitchen and bathrooms 

 

Many homeowners are aware that kitchens and bathrooms can be timely and costly to completely renovate, for this reason, these two rooms will affect how much your house is worth. Usually, if your property doesn’t require much renovation it will be valued higher and generally speaking, the less hassle for a buyer, the higher the valuation for you. 

 

Having a parking space 

 

You may not be surprised to hear that nowadays, having a parking space can affect the value of your property, whether this is a dedicated space somewhere or a driveway. Whilst in city centres this may not matter as much, in rural areas it is seen to be incredibly important. So, if your property has a front garden, for example, you may want to change this to a parking space. 

 

Getting a property value estimate online 

 

All in all, it is fair to say that being aware of everything mentioned above is beneficial to anyone who is looking to put their property on the market. Once you have got your first property value estimate online, you may want to think about the factors mentioned above and whether there is anything that you can do to increase the value of your property. Of course, it is important to ensure that any changes you do make will go on to be cost-effective for you.

 

If you’re wanting to get a property value estimate online, visit the Tatewood website today. Our incredibly experienced team will gladly provide you with a free valuation and unlike other estate agents, the selling prices we recommend will always be realistic. If you’re happy with the property value estimate we have given and you’d like to go ahead and put your property on the market, we will happily do this for you too. Here at Tatewood, we offer an all-inclusive service to homeowners and we can handle everything you need to sell your home for the best price possible. So, don’t hesitate to contact us today. 

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