Purchasing a property is an investment, so you’ll want it to increase or hold its value. However, there are some factors that can’t be controlled, which can have an effect on the overall valuation.
Crime levels
Increasing crime levels may work against you once the time comes to sell your property. Potential buyers will likely research the area, as they want to feel safe in their own home.
Noise pollution
If you’re selling a property in the city, noise pollution can be a real issue. If your house is in a central location, you’ll likely be prone to noise from the various roads and streets, including police and ambulance sirens, buses, and traffic jams.
Neighbours
Unfortunately, having loud and inconsiderate neighbours can be an issue for many homeowners. Your potential buyer will likely ask how your relationships are with the people next door, so you may want to declare any disputes you have to avoid any future confrontation for the new occupant.
Poor maintenance
As you plan to move out of your home, you may have lost the love you once had for the property. Perhaps you’ve stopped keeping it up to scratch, which could have resulted in chipped paintwork, worn carpets, creaky doors and dirty grouting.
Your potential buyer will notice the poor maintenance and will likely expect these to be fixed before they consider going ahead with the purchase.
Unappealing exterior
The exterior of your property is the first thing your buyer will see. That’s why it’s incredibly important to ensure your house looks appealing and welcoming to give a good first impression.
If your front garden is overgrown or your front door and windows are dirty, this will likely reduce the value of your property.
Energy efficiency
As energy bills continue to rise, many people are focusing on how energy efficient their new home will be. Homeowners are wanting to save as much money as they can on increasing bills and costs, so energy performance has become a crucial factor in the valuation of properties.
How to increase the value of your home
If you’re wanting to get the most out of your investment, you could consider taking out a loan to upgrade your home and increase its value.
- Regular maintenance: Giving your home a fresh lick of paint can really make all the difference. Simple upgrades such as replacing light fixtures and changing your carpets can help, too.
- Install energy efficient appliances: Reduce bills where you can and install double-glazed windows, loft insulation or upgrade the boiler.
- Freshen up the exterior: Simply mowing the lawn and planting fresh flowers can make your home look desirable. A positive visual impact will help to influence your buyer. If you’ve made these changes or are planning to, understanding exactly how they affect your home’s market value can be crucial. A professional home evaluation can provide you with an accurate measure of your home’s value, helping you to make informed decisions about further improvements.
