Your property is the most valuable asset you have. When it comes to selling or just wanting to know how much your property is worth, you will need to get your property valued. But how will an agent come to decide on what your property is worth? Here are a number of key factors that will affect the price of your home.
Generally, the more space you have on your plot and the more space inside your home, the more money your property will be worth. Spacious living is considered more luxury and will increase the price of your property.
For many homeowners, increasing the size of your plot is often not an option, however we’ve seen land purchased to help increase the value of a property. Adding a quality extension will also increase the square footage of the inside of your property, subsequently increasing the value of the property.
The condition of your property will affect how your property is valued. As you can imagine, a property that looks tired and worn out will be worth less than one that is well presented.
However, so long as the foundations of the property are still strong, interior wear and tear will only affect your property price by so much. It’s when external damage is concerned that you should be worrying about the price of your home being affected.
Investing money both in structural and interior repairs where necessary will help you get the best price for your property.
Location is also a very important aspect of how your property is valued. Again, location cannot really be controlled unless you can find a way to up anchor and more your home… which is highly improbable.
Therefore, houses in an area known for being safe for families, close to commuter routes and local towns will generally be more expensive than those that are not.
You would get a good idea as to what properties in your location are worth upon purchasing it.
Similar to location, having a nice neighbourhood where properties surrounding yours are well presented and relatively quiet and safe will significantly affect your property price.
People wanting to move in will want security that they can come home to a place where they can relax easily and they will pay good money for that.
Whether you own a flat, terraced, semi-detached, detached or a mansion, the type of your property will have a significant affect on the price of your property.
The same applies to the era in which your property was built. Homebuyers will pay much higher rates to live in character properties with a modern interior as opposed to an out-dated property from the 80’s with no modernised interiors.
If you would like further information on what affects your property price, or would like to find out how much your property is worth, please feel free to contact us today.