If you are thinking about selling your home, or property, the first question you have is probably “what is it worth?” There are different ways of figuring this out, whether by yourself, or with the help of others. There are also different things you can do to improve the value of your house, if you are looking to do so.
The factors one has to take into account when valuing a house are the following:
1) The market. If the property market is at an all time low this will affect the value of your house. It’s often harder to sell your house in this market as well, because there are likely to be more sellers than there are buyers and people don’t have a lot of money to spend as times are tough (which is some of the reasons the market is down in the first place).
2) The state of your house. If you house is newly done up on the outside, redecorated on the inside and filled with modern appliances that are top notch, it will be worth a lot more than if you are having electricity problems, your roof has a leak and the paint is coming off in places.
3) The neighbourhood. If you live in an affluent area with plenty of good schools, great public transportation, beautiful surroundings and plenty of great facilities the value of your house will go up, because people value the area it is in.
4) How old the house is. If you live in an old house, even if things are in perfect order, chances are that there will be more problems with the house in the future, than with a newly built house (given the house is well built). Therefore, an older house is on average worth less.
5) Perceived value. This may, or may not affect the actual value, but if someone walks into a house that is well looked after, not just spotless and clean, but warm and welcoming, they are likely to perceive the value of the house to be more than an unfriendly house.
If you want to value your house you can either hire a professional to do so (which will be pricey, but give you an accurate and independent valuation), or use various different tools to figure it out yourself.
Online you can go to the government’s site to browse various advice they give you and you can also use sites that allow you to see how much other houses in your area have sold for recently. Then you can compare houses similar to your own in size and condition.
There are also sites which break down the current market and offer insight into regional trends. The only thing to beware of is that the data listed can be months old and therefore somewhat incorrect.
Please also take advantage of our house valuation guides. We are a company buying houses for cash, so as part of our services we offer a free valuation of your house, so that we can give you an offer. When you sell for cash it is always for 80-95% of the actual value, but you get to sell your house within a week and have all your legal work taken care of for free, plus there are no estate agent fees and as we offer to buy any house in the UK, so you do not need to renovate it, or live in a posh area to get it sold.
The Mixon Team at
Keller Williams Realty Services
Licensed LA Realtor®
1522 W Causeway Approach
Mandeville, LA 70471