What to look out for and how to prepare for a property valuation?
When preparing to sell your property, one should begin by having it valued. Each estate agent will work to value your home differently, but there are several key factors that many will look at when deciding the value of your home:
The first is to look at comparable homes which have sold in your area. This can be tricky where unique homes are concerned, but it is a good starting point. It’s also crucial to consider how the market has changed since recent sales have completed. Additional value can be added for the quality of the fixtures and fittings, layout, views, number of bedrooms and more.
An estate agent will take a careful look at the location of the property. In London, there are micro markets within markets, and often prices vary from street to street. Factors such as the width of the property, the spatial layout, design and general feel can vary enormously in one clutch of streets to another. Some properties value higher than others due to the school catchment area, but in general, everyday amenity is key – meaning a property’s proximity to local shops and most importantly, urban spaces, parks with facilities such as tennis courts and playing areas, what transport links are nearby and so on.
Once inside the property, they will consider the size of each room and square footage for the whole property. The layout is also very important.
A good estate agent will have years of experience, so their instinct and gut feeling can be trusted. Their expertise should be borne out by sharing all their research, methods and findings with the client to ensure they gain the client’s faith in their valuation.
When preparing for an agent to come around to value a home, sellers should always endeavour to present the property in its best light. They should avoid clutter and ensure that they do not obstruct any natural light entering the property. All rooms should be well lit and aired. It is also advisable to ensure the property is clean and presentable. It’s also a good idea for the homeowner to have an idea of their plans, intentions and timescales, along with any relevant documentation such as planning permission or guarantees.
Sales & Lettings Manager
Fine & Country