It is not as though homeowners and landlords are unaware of the importance of property values. Property values are one of the most popular topics of discussion in the housing market, and a lot of people take significant pride in the associated numbers.
However, it is one thing to know that valuations are essential for landlords and vendors; it is another matter entirely to understand why they are crucial.
At Holdencopley, we are pleased to say we have assisted many landlords and vendors across Arnold, Woodthorpe, West Bridgford, Hucknall, Carlton, Wilford, Mapperley and throughout the Nottingham area. We believe in the importance of making an informed decision, and a valuation from an experienced local professional allows you to make an informed decision.
If you are keen to arrange a property valuation, contact us today, and we will be more than happy to help. If you need reasons to justify arranging a property valuation, please read on.
If you plan on selling your home, an initial value allows you to plan your next move
If you are selling your home as part of the process of buying another home, you need to get your finances in order. Having a rough guide or general estimate of what you expect to sell your home for allows you to really start looking at houses you want to buy.
Whether your main focus is on size, layout or location, you need to have a budget in place before you can seriously consider your property options. Arranging a property valuation at the start of the sales process also allows you to begin the buying process with confidence.
A realistic value allows you to enter the property market with confidence
When you place your home on the property market, it is critical you enter with a reasonable price. If you join with too low a price, you run the risk of losing out on money or not connecting with likely buyers. If you enter with too high a price, many buyers will avoid your home, even if they would be drawn to the property itself.
Don’t forget buyers set a minimum and maximum price when searching for a property. If your listing price is above or below the figure a prospective buyer sets, they won’t see your property. Therefore, using a realistic price helps you reach the most likely buyers.
A realistic value allows you to compare your property with others in the area
Whether you are selling or letting property, you need to know how the house compares to other options in the area. As a vendor, you want to price your home in a manner that makes it more appealing than rival homes on the market. As a landlord, you want to set a monthly rental fee which leaves the property looking attractive when compared alongside other options.
A realistic valuation helps you evaluate home improvement work
If you plan on carrying out refurbishment work for the convenience or pleasure it will bring, all you need to worry is about whether you can afford the work. However, if you want to generate a return on investment, you need to the current value of your home, and what value you can expect to see if you renovate the property.
If the added value is higher than the cost of home improvements, you can feel confident about the merits of the work. If the added benefit is less than the cost of home improvements, you should consider if it is a suitable project.
We offer property management, property to rent and property for sale in Arnold, Woodthorpe, West Bridgford, Hucknall, Carlton, Wilford, Mapperley and throughout the Nottingham area. If you would like to arrange an appointment to help you negotiate the local buy-to-let market, please contact Holdencopley today by calling us on 01158969800 or emailing steven@holdencopley.co.uk.