If you are a first time buyer, you may be feeling a bit daunted, to…
There are many reasons why you would want to have your home professionally valued, the most common one being because you want to sell it. But there are other reasons why getting your home properly valued is of the utmost importance. Read on to find out what they are.
You are Selling Your Home
Obviously, if you want to put your home on the market, you will need to get an accurate valuation done. If your home is priced too cheaply, yes you will get a lot of interest but then you will lose money on the sale, and not only that but savvy buyers will be suspicious and will be put off by the low price. On the other hand, if your home is overpriced, potential buyers will be put off altogether and you will have no one interested in viewing your property. So you can see why having a proper valuation done is absolutely essential in order to sell your home quickly and make good money on it. Be aware that some unscrupulous estate agents will give you a valuation that is too high just to win you as a client.
You Want to Insure Your Home
Again, having an accurate valuation done on your home is vital for insurance purposes. If the valuation that you give the insurance company is too low, you will lose out big-time should the worst happen such as fire or flooding. And if the valuation you have given the insurance broker is too high, then you will be paying too much for it. So, for peace of mind whilst saving your wallet, you need to know your home’s true value.
You Want to Remortgage Your Home
If you want to free up some cash or simply get a better mortgage deal, then having your home valued is again very important. You want to be confident that the information you provide in your application is accurate. As with any major finance deal, you want to have complete assurance, and this can only be obtained by having a true valuation of your home carried out.
You Have Bought a Property as an Investment
Most people purchase a property to put a roof over their families’ heads and to keep them safe, however, if you have bought a property solely as an investment, you will surely want to know what it’s worth, and what improvements you can make to it in order to ensure a decent return on your investment.
So, what are the factors that influence how much your home is worth?
There are many tests and checks that are performed on a property when a valuation is worked out. The factors that influence how much your home is worth are:
– Your home’s location; means not only what part of the country you live in, but how close your home is to local amenities such as transport links and schools. Also, what the demand is for property in your area will play a big part.
– The size of your home and how many rooms it has
– The general condition of the building, and its age
– Any improvements which you might have made such as an extension, loft conversion or newly fitted kitchen, and also any structural improvements which might have been carried out.
– Whether or not your home has a garden and the size of that garden; also what condition the garden is in
– The layout of your home, and also how much storage space is available
– The fixtures and fittings
– The electrics and heating, which must be up-to-date and of a high standard to improve the valuation
– Insulation which is in place, as well as double glazing
At Laming Hope, we offer free property valuations; please contact us to book an appointment.