Top 8 Elements for Real Estate Valuation

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Real Estate Valuation Factors
Real Estate Valuation Factors

The property is an investment, and every person wants their property to be sold at the best value. The maximum actual value of a property is a bit tricky to achieve, which is why most people end up hiring an estate agent. However, the decision of choosing an estate agent can either be a mistake or a good decision.

Most importantly, the initial valuation also depends upon the property; and how the estate agent considers the property. An estate agent has different working methods, as they directly relate to what the seller and the buyer want to achieve. 

There are expert estate agents at LuxuryProperty.com; who can give value to your property by just looking at the property. But, they do hold a lot of experience, and there are some factors that they consider before placing a market value of the property. Keep on reading to know more about what an estate agent looks out in a property; and how it is valued. 

Storage Space

Nobody minds a well spacious house with extra storage space. A spacious and flexible accommodation plays a significant role when it comes to the value of your property. An estate agent will evaluate your property as space. Moreover, he will consider the number of bathrooms and bedrooms. A property with an extra TV lounge or room has its benefits. Extra space sets a good market value, and your property will be judged based on the space. 

Indoor Aesthetics

Well, before inviting an estate agent for property evaluation and valuation, make sure to stage your house properly. An estate agent will consider what the property looks like in an irregular pattern. Most minor details matter, such as clutters, carpets, wall peelings, the odor of the house. Any minor issue can devalue your property. Ensure that your property is well-cleaning, the floor is sparkling, the windows are all clear, and the property is welcoming. 

Kitchen

One of the leading factors that value or devalues a property is the condition of the kitchen. An agent values a property from a buyer’s perspective, and a modern kitchen is buyers’ demand. If you have a proper well-furnished kitchen, chances are—you’ll get a reasonable price for your property. Properties that are bought for investment purposes; feature the buyer’s preference. Even if you have a traditional kitchen, try to upgrade it by adding a modern look. 

Expansion or Modification

No matter how beautiful a property is, an estate agent will evaluate it based on expansion or modification. You must convince your estate agent that your property is not indulged in any rejection. Also, if you have permission for the conservatory, does it show it to your estate agent to bet the best value. Not to mention, estate agents are intelligent in calculating the complete square feet, so ensure that you are not playing any games. 

Bathrooms

The total number of bathrooms on the property has become critically important. Estate agents do get such demands; that a property must have extra bathrooms. If you have an extra bathroom on your property, this can be a plus in terms of market value. 

Accessibility to Schools

Well, this is something significant. If your home is located in a school area, it will attract buyers. Proximity to schools is a crucial part of valuing properties. The majority of the buyers, who are parents, hunt for homes near good schools. Hence, the location of your house matters when it comes to valuation. 

Transportation Link

If your property has links to good transportation, it can act as a plus point. An estate agent will always consider whether the house is appropriately located or not. The buyers consider commute time from their home to the office while buying a property. Moreover, if your property is not at a suitable location, the value will decrease. However, across rail might help to raise the value of the property. 

Garden

One of the staging tips is to decorate your garden aesthetically. The buyers get attracted to the gardens, and many buyers demand a home with an attractive garden. Hence, having a spacious garden can raise the property value. In case you have a garden, make sure it is maintained and adequately done

Selling a property is a difficult job. People do invest in properties for good returns on investment. But, before buying a property for investment purposes, make sure that you are aware of the selling factors. An experienced estate agent will give you a checklist; as they tour around your home.