Wednesday, October 17, 2012

What Factors are Assessed in a Home Valuation?

If you are planning on getting your home valued, whether it is to rent or sell, then it is important to understand the factors that will affect the price a surveyingservice will estimate for your property. A good survey company will assess five key factors when looking at your home, or a home you are interested in buying or renting.

1) The size and type of your home
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 One of the first thing your surveyor will investigate is the type of your property and the size of it. They will look at the space your property occupies, including the land around it such as gardens or outbuildings that you may own. They will also make a note of the size of each room, taking special interest in key rooms such as the kitchen, bathrooms, lounge area and master bedroom. 

The type of your home will also be assessed to make a proper estimate of your homes value, such as whether it is detached (which tends to be valued higher than other house types), a flat or so on.

2) The décor and cleanliness of your home

Surveyors are not going to be going round testing your fireplace tops for dust, but they will notice if the place looks dirty or in disrepair. Ensure that you give your home a spring clean before obtaining a valuation, as anything that looks like it could be falling apart or unclean could make a big difference in price. It is also worth noting that homes decorated in neutral tones are much more likely to sell, or be rented, so if you have the time and the spare pennies, invest in some creams, beige tones and off-whites to paint the walls and ceilings with.

3) Unique features

If your home is small, but part of a converted barn then it is likely to sell for much more than a 1980s townhouse of the same size. Unique features can definitely up the price when your home is being valued, so make sure you show them off. Fireplaces, chimneys, alcoves and even a cellar under your kitchen will all add to the final valuation of your home. Make sure you point these out to your surveyor if they are not as noticeable as you had hoped.

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4) The 'curb' appeal or exterior of your home
The first thing a surveyor and potential buyer is going to see of your home will be the front, in most cases, so it is important that this is in tip top shape. If you notice anything that needs to be fixed, such as guttering or a window ledge, then make sure this is done before you have your house price assessed. Also, if your front garden is overgrown with weeds then this is unlikely to make a great first impression either. Walk up to your home as if it is the first time you have seen it, so you can pick up on anything that may need painting, repaired or changed.

5) Electrics and heating
The final thing to make a note of is your electrics and heating systems, including when they were last maintained and certificates backing this up. There are several laws regarding the use of gas boilers and the suchlike, before selling your home, so ensure you get an expert in before your valuation to get these important bits of your property up to date!

Although you may not have control over the size, age or type of your home, it is important to ensure you improve the things you can before having your property assessed. Keeping your home in top condition, without any outstanding repairs and in a neutral color will help you get the best price possible.
 

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9 comments:

Pam said...Best Blogger Tips[Reply to comment]Best Blogger Templates

I try to keep my home in top condition but it is hard when I have kids running around.

Grace said...Best Blogger Tips[Reply to comment]Best Blogger Templates

I just watched something on TV about this while I was waiting for my husband in the doctors office.

Alicia said...Best Blogger Tips[Reply to comment]Best Blogger Templates

Good to know! Thank you.

Barb W. said...Best Blogger Tips[Reply to comment]Best Blogger Templates

Great tips, will keep this for reference!

Carolyn Colley said...Best Blogger Tips[Reply to comment]Best Blogger Templates

I think that cleanliness is the most important

akronugurl said...Best Blogger Tips[Reply to comment]Best Blogger Templates

great tips thanks!

-stephanie j

VickeC said...Best Blogger Tips[Reply to comment]Best Blogger Templates

some good tips,,ive got a little rental house I want to sell so copying down these ideals

jill24295 said...Best Blogger Tips[Reply to comment]Best Blogger Templates

This is such a greeat article for ideas for me. We are badly wanting to move back to the East coast within the next year or so, and this helps give us some ideas to maximize our selling potential.

Terri said...Best Blogger Tips[Reply to comment]Best Blogger Templates

Great points! It's surprising what can really make a difference!

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