What is an Estate Agent looking for when valuing a home?
Residential Sales – Selling Your Property
When it comes to selling your home, obtaining an accurate valuation from a professional estate agent is crucial.
You may wonder, what is an estate agent looking for when valuing a home? We’ll delve into the key factors that answer this question and discuss how you can potentially increase your home’s value before you list it on the market.
Market Demand and Comparables
Understanding market demand and comparables are essential for estate agents when valuing a home. They’ll look at the demand for properties similar to yours, known as “comparables” or “comps,” and analyse recent sales data to determine a fair market value. Keep in mind that fluctuations in the property market can impact your home’s value, so staying up-to-date with market trends is essential.
Location, Location, Location
Location is significant in what an estate agent looks for when valuing a home. Estate agents consider the desirability of your neighbourhood, proximity to good schools, transportation links, and local amenities. A prime location can significantly increase your home’s value, while less desirable areas may negatively impact it.
Property Size and Layout
Size and layout are essential factors in what estate agents look for when valuing a home. Agents will measure the square footage and consider the number of bedrooms, bathrooms, and reception rooms. They’ll also evaluate the layout and flow of the property, as this can have a major effect on a home’s appeal to potential buyers.
Condition and Presentation
The overall condition is another critical factor in what an estate agent looks for when valuing a home. A well-maintained home with modern fixtures and fittings will likely be valued higher than a property needing extensive repairs. Estate agents will assess the condition of your home’s interior and exterior, as well as the quality of any recent renovations or extensions.
Unique Features and Potential
When determining what an estate agent looks for when valuing a home, unique features and potential are also considered. Features such as a stunning view, a large garden, or a particularly stylish interior design can increase its value. Estate agents will evaluate the potential for improvement, such as the feasibility of adding an extension or converting a loft or garage. Properties with room for improvement often appeal to buyers who are looking for a project or want to customize a home to suit their needs.
Conclusion:
By understanding what an estate agent looks for when valuing your home, you can better prepare for a successful sale. Factors like location, size, condition, market demand, and unique features all play a role in the valuation process. Remember, every property is unique, and estate agents will provide tailored advice on maximizing your home’s value. Don’t hesitate to ask for their expert guidance and make suggested improvements before listing your property on the market. We use IntheSpace Interiors for staging or project management on our properties before bringing them to market.
Casey Kennedy Estate Agents can carry out a home valuation for free if you are selling.
And click here to see an article on preparing your home for sale
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Our dedicated team of valuation experts have over thirty years’ experience of selling commercial and residential property in Dublin and North Wicklow and their extensive local knowledge can point you in the right direction.