To make it all worth it, you want to make sure your house is valued at an appropriate price.
Today, we’re discussing the ups and downs of home evaluation: what sorts of things increase and decrease value.
What brings down house value?
When selling your house, one of the first steps is hiring an expert to evaluate the value of the property. Below are a few things that can bring down its value.
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The house requires a lot of work
If your house is in poor condition and will require the new buyer to spend additional time and money, this can impact how much your house is worth dramatically. The best thing to combat this is to make sure the small fixes are all completed before the evaluation.
If larger renovations need doing and you can’t afford to do them yourself, this should be stated to potential buyers, and the house will be priced a little lower.
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Location
Unfortunately, location isn’t something you can change but is a huge factor in house value. High crime areas and lousy transport links are just two things that can contribute to lower evaluation. You can check crime rates of your area at ADT.com
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Aesthetic
The structure of your house might be totally sound, but the aesthetic isn’t as great. This can really impact the asking price. If the house doesn’t have curb appeal, or feels a little outdated, this can have a negative impact on the price estimation. Be sure to do your own evaluation on how the house looks, and improve any areas that might attract buyers.
If you’re looking to sell your home and are asking yourself, ‘How much is my house worth?’, you can quickly get an expert evaluation to see if your home is worth as much as your hope.
What increases house value?
On the flip side, there are several ways to increase value before you put the house on the market.
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Energy efficiency
If your home is energy efficient, you are likely to attract more buyers. Not only does the house cost less to run month-to-month, but it also means buyers don’t have to spend thousands on renovations when they move in.
Switch to green energy options, install solar panels or fit double glazing to make your home more energy-efficient.
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Build an extension
To really boost the value of your home, build an extension. Although this is a big job, it could add thousands to your asking price.
Whether you install a small downstairs bathroom, extend the kitchen or create an additional bedroom – extensions are great for offering more space to bigger buyers.
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Easy changes
An easy way to increase value is by simply making the place look nice during the evaluation. Give the walls a new lick of paint, have floorings professionally cleaned, and de-clutter your living space so that it is well staged.
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Image credit: ups and down of house value by envato.com
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