Factors that can affect the Value of your House Adversely

When you set out to sell your home, you definitely want to sell it for the highest sale price possible, unless you are compelled to compromise by a number of factors. Even then, there are some issues which when not taken care of well in advance will generally affect the value of your house.

webuyanyhouse_587Some of the factors that can drive down the value of your house especially if you are selling online are as follows:

  • Home improvements without planning permission – Some home improvements and extensions that are likely to have a major effect on the price of when you are selling your house. The legal issues arising from this development will then become the responsibility of the new owner. Thus, you need to keep in mind that planning permission applies to the majority of house extensions even though there are some exceptions.
  • Nuisance neighbours – Living close to a nuisance neighbourhood has great potential of reducing the value of homes by a significant amount. Thus, neighbours who intimidate residents, cause excessive noise, create graffiti or even engage in criminal damage usually give the whole neighbourhood a bad reputation that is likely to discourage prospective buyers from viewing and eventually buying the property.
  • High crime levels – If the rate of crime within your location is reported to be high then chances are the value of your property will be affected. Generally, when crime rates are higher than normal then prospective investors are likely to avoid your property. However, this can be countered through the formation of neighbourhood watch schemes and improving security measures. These can mean a more positive house valuation.
  • The presence of poorly performing schools in the area where your property is located can also affect the value of your property negatively. In most cases, poor results will deter parents who have school going children from buying property in a given area. This reduced demand will have inevitable consequences on the value of property in the area.
  • A bad history is also another reason that will reduce the value of your home. There are certain things that are out of control for the property owners yet they have a direct impact on the value of your home. This may range from the property having been a scene of crime or other unwanted history. Unfortunately, there is usually very little that you can do to avoid this kind of reputation.
  • Poor maintenance of property. A house that is not properly maintained is definitely a turn off for buyers. You need to ensure that your property’s kerb appeal is impressive. That is, make sure that you have a lasting first impression. When you create a great first impression, for buyers from the moment they arrive then chances are they will also have a positive impression of your property.

Ultimately, when you set out to sell your property, you need to put yourself in the position of the buyer and try to answer to all those things that would turn you off if you were buying the property. This way, you will be able to get your property ready for buyers to view and purchase.

Property Valuation: How to Price your House to Sell Fast

It is important to prepare yourself adequately before you set out to sell your house. One of the ways to prepare is through conducting property valuation. This helps you understand how much your property is worth hence be able to set a realistic asking and selling price.

propertyprices_406The first place to begin is by talking to an estate agent that is knowledgeable about the industry and the price of property within you locality to guide you. You can engage at least three estate agents and ask them for three independent property valuations from which you can draw a comparison before making a conclusion on the price of your property.

The challenge with this is ensuring that the agent is working in your interest. This calls for you to do an independent research. This way you will ensure that you do not settle for an estate agent that is keener on winning business at the expense of your needs.

You can look up the prices of properties that sold recently on property portals such as Zoopla and Rightmove. Apart from the property valuation report, here are some of the other factors that you need to take into account:

  • Duration of sale – You need to think about how much your property is really worth as well as how long you are willing to realistically prepared to wait for the completion of a sale.
  • Identify those features that you think will attract buyers to your property. This may be anything from the distance to schools or shops or even transportation links.
  • Age of the property – For a property that is old, you need to consider the cost of maintenance that will be required over time in comparison to a new building. If is it a flat as opposed to a house, you also need to consider any additional annual costs that the potential buyer may include like service charges and ground rent among others.

Generally, it is important to have a clear idea of what you want. Only then can you start instructing viewings while you wait for offers to come. Remember, the process does not stop at finding the right buyer. Rather, you will need to appoint a good solicitor to do conveyancing and get the transaction moving to a quick house sale.

At this point, you will do well to check up information on how to speed up the conveyancing process. Keep in mind that navigating the property market can be grueling, stressful and unpredictable. Therefore, you will benefit from preparing adequately and getting appropriate advice.

If you are in a situation that dictates you opt for a quick house sale, you will also do well to check the background of the company as well as its sale history before signing the agreement. Remember, that some of the quick house sale companies employ unscrupulous tricks to your disadvantage. Therefore, be sure to read the agreement and understand every detail before accepting the offer and selling the property.