WHAT IS MY HOME VALUE? ADD VALUE WHEN SELLING
Your home value can vary depending on why you want the information, for instance whether remortgaging, selling your house or trying to pay minimum rates to the council.
When selling a house, you obviously want to increase the value. According to Property Value (formerly QV) there are five key areas that add the most value. If you want to optimise your sale price, this is where to start.
Besides these key areas, there is also a relatively simple thing you can do to increase value. Home styling or staging when done well is estimated to add a potential 10-15% to an expected sale price. How? More people are drawn to your real estate photos, more people will view the property and more people are likely to make an offer.
Being in a position of multiple offers is the optimal place to be for getting a prime sale price. Instead of what is often downward negotiation, buyer competition enables your real estate agent to negotiate upward - if you have chosen an agent who is strong negotiator that is.
A vetted real estate agent will help you add value then negotiate a prime sale price
5 AREAS THAT ADD MOST VALUE
According to Property Value, the five things that make up the value of your home are:
- Integrity of building structure
Before getting a property valuation, look for ways to optimise the presentation of these areas first. If you prefer to get a real estate appraisal for establishing a price estimate, a good real estate agent will advise what areas to prioritise and how far to go with spending money, if any.
Find out more about property appraisals and what to be aware of first
HOME STAGING CAN ADD 10-15% TO A SALE PRICE
Whether you hire furniture for an empty home or home style using your existing furnishings, this is always worth doing.
Home staging sets your house apart from competing homes for sale, in your area, in your price range. It can elevate buyer interest and put your house at the top of their short lists.
Staging your home for buyers (rather than for you as the seller) in a way that appeals to the broadest buyer demographics helps create the dream for buyers (in their price range).
A home does not have to be perfect - just make the best of what you have, regardless of your price range or even if your home is a bit tired looking.
Check out these before and after images of homes staged using existing furnishings.
Find out more about what home styling achieves
10 WAYS TO AVOID UNNECESSARY EXPENSES
There is only going to be so much value you can add to a sale price. We can help you achieve more equity by advising you how to avoid unnecessary and unbudgeted expenses.
Selling your house can often incur expenses that are completely avoidable.
We can guide you on how to prevent these, arming you with better insight into each stage of the real estate process, which will impact on your bottom line at the end.
Article updated September 11, 2020 | Trish Willis