Do you know you can increase your property value just by making some changes in the property? Well, if not then you should. It hurts when you apply for a loan and it gets reduced amount cause of low valuation.
The major things that are noticed in valuation are dwelling size, location and functionality. Look if you are an owner of the house then surely you can’t work on – location. You can’t change this. But definitely you can work on it’s ‘functionality’ and somehow on ‘size’. Here are the few tips that can help you in increasing the property valuation –
Present your property perfectly – Impress your residential property valuer by keeping your house clean, mowed lawn, designer drawing room, well-furnished kitchen, perfect flooring, cleaned washrooms, freshly painted walls, decorated living room without any clutter in the house.
Never forget your clean and well-maintained dwelling can bring you good amount. Never assume that residential property valuer will overlook the property. They are keen observer they notice, it very minutely. It’s better to clean every corner of your house perfectly.
Make changes before valuer visits – On house valuer’s visit, if you are going to say – we were supposed to make these changes than your this excuse is not going to help you in increasing your property value. So better to make the changes before house valuer visits your place.
Highlight your recent renovations – If you have made any renovation in past few years then don’t forget to highlight those renovations because it might increase the value of your property. And it could be possible that your house valuer cannot able to notice those renovations. For example – fitting of new electric wirings and pipelines. This cannot be easily noticed by property valuer.
Compare with recent sales – Arrange some data and valuation figures of the recent sales of two or three properties similar to your property. The one of the best method of valuation is sales comparison method. To evaluate your residential property best time when other properties like yours get valued in your area. So you can get the correct value of your property.
Be realistic – Surely improvements and renovation adds value in your property. But it will not increase its value beyond what it actually cost. Sometimes people overcapitalise the renovation to get high property valuation figures. That is not going to add more value than it deserves.
Never ignore exterior – Whether it is about your elevation of the house or garden. Never ignore the outside area of your property. Your mowed garden, well-maintained garage, clean front and back yard space, open living area adds great value to your house. Maintain it, clean it, repair it and never ignore it.
Focus more on the kitchen and toilets – Kitchen the first most important and bathrooms are the second most important place in the property. These places can bring significant difference in house valuation, if kept well presented. Neatly cleaned toilets and kitchen puts positive impact on property valuation. These places should be well maintained and if necessary changes should be done if required like replace the old sinks, taps with new one. In kitchen replace the countertop, cabinet, lights to give it a modern look. Valuer focus more on these two places, make sure to keep them updated to get the right value of the property.
Property valuer gives the accurate results of your property/house. They do provide house valuation report to get the complete information of your residential property that too in affordable price.