Home valuations: How to get the most out of your property

Five important things to remember when it comes to home valuations.

Knowing the value of a property is the most important step in any buyer or seller's real estate journey. You can get the process started with the professional assistance of an expert property practitioner in your area. Qualified real estate agents can provide you with a Comparative Market Analysis (CMA) that considers market forces as well as other properties in the area. Pricing your property correctly from the get-go increases your chances of a successful sale. Here are a few things to keep in mind:

Location:

One of the key factors of any property valuation will always be location. Many details determine the quality and demand for property in a neighbourhood. These include relative safety, the provision of reliable municipal services, as well as access to things the buyer's market deems important, for example, proximity to schools. A qualified valuer will provide you with all of the insights that play a role in the location of your property and can make the best call on how to appeal to your buyers.

Maintenance and value:

Condition is right up there with location when it comes to the value of your property. Maintenance impacts value tremendously because it can prevent future damage to the property. Buyers need to be aware of all the defects, which may influence negotiations and the offers you get access to. Keep that up-keep list handy - an experienced valuer will tell you all about its effects.

Balancing input and demand:

How much is too much when it comes to renovating before you sell? It is important to consider the value of your inputs compared to how much you can recover from the investment. Consulting an experienced estate agent before you start renovations is always a good idea because you are never guaranteed that your renovations will match the demand of your area. For example, ceiling values are more common in some areas than others. Considering these estimates will prevent over-capitalisation and eventual losses.

Valuating but not selling:

Getting access to an industry-aligned figure provides invaluable insight into the future of your property. If you regularly go through the process of property valuation you will always be on top of area trends as well as future growth possibilities. We recommend getting a home valuation done at regular intervals because professional advice never goes without reward.

Who to trust:

Qualification and experience differ but track record speaks for itself. Market value is an estimated amount and because various factors influence this estimate, you need to be sure that the person you trust with your property ticks all the boxes. A registered, property professional understands the impacts of your investments and can safeguard you from low-quality valuations.

You should always understand what goes into the valuation of your property before you try to list it but conducting a property valuation should not be guesswork. You must have an industry-aligned figure from a reputable and trustworthy professional to get the best value for your property.

At Meridian Realty, our expert property professionals know exactly what your curb appeal should and shouldn't be. Contact us today for any home valuation questions: https://www.valuations.meridianrealty.co.za