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Important Factors To Remember When Having A Property Valued

Aug 7, 2008
The valuation of a property is a combination of skill, knowledge and guesswork. Ultimately the guesswork element can be made as educated as possible by combing the first two elements. By looking at certain factors however the discrepancies in valuation figures can be minimised. Hopefully the following information containing some of the most important factors involved in a property valuation will help both buyers and sellers understand the process more succinctly.

One of the most important, if not the most important factor in a property valuation is the location of the property. Naturally your house will be worth more if it is located in Notting Hill rather than Baker's Arms. Realising that location is above all the most important factor is vital if you are to be realistic in the valuing of your home. Additionally, the type of property and how these properties are selling in your area are also importantin the valuation process.

In terms of the strategies you can employ to increase the valuation figure the best place to start is the kitchen. Most real estate experts will agree that the kitchen is regarded by most buyers to be the most important room in the house. Subsequently if you want a high valuation it is a necessity to have a well laid out and spacious kitchen. Buyers want high quality materials; especially for the floors and worktops, as well as this, the appliances are also important in the valuing process.

While the kitchen is generally regarded to be the most important room, second to the kitchen is the main bathroom. Buyers want a bathroom that is well equipped, that has enough space for two people and the room to walk and lounge around. In most modern bathrooms, as well as a luxurious bath, large showers with multiple heads and opulent enclosures are extremely popular and will almost certainly add value to a property. Understandably, if you are installing these types of features, having sufficient water pressure and drainage are fundamental. Property experts agree that if you are to invest anywhere in a home, the bathroom is a great place to start.

After the bathroom and kitchen have been considered, the next most important room to buyers is the master bathroom. Most will want a bedroom that is well appointed in a prominent position in the home; making it a great selling point that will add to the value. Additionally however an en suite bathroom is a key feature that can make a property more appealing. As well as an en suite, built in wardrobes can add value and once again, space to lounge and walk around is an important factor.

The materials used for construction are of vital importance in any valuing process. Currently the fashion is to fill homes with natural materials; wood and stone are perfect for floors and if affordable should be utilised extensively. Simulation materials can be used but if a buyer has a keen eye will mostly probably be noticed and hence reflected in any offer made. Carpets are an important element to a home and once again quality materials are important. If they are worn it is normally worth replacing them before a valuation, if it seems that replacements will be needed, the valuation will most likely reflect this. Just like the floors; windows, doors and the roof should also be in a good state of repair for a high valuation. Any maintenance costs that will be incurred once a buyer has moved in will usually be subtracted from the price offered.

By understanding these factors it should be possible to alter your home in a way so it will be valued higher by both estate agents and potential buyers. These factors are in no way everything that needs to be focussed upon but give a general guide into the best ways to improve value. By remembering the importance of the kitchen, bathroom and master bedroom as well as construction materials a higher price should become a reality.
About the Author
Real estate expert Thomas Pretty looks into factors involved in a property valuation and how homeowners can increase the value of their home.
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