Trying to value your own house can be quite challenging. Normally, individuals overvalue their properties because of the natural emotional attachments they have to their land and structure. When preparing a house for sale and determining the value of a property, individuals must be objective and consider the true merits of the house by divorcing themselves from their emotions and systematically considering the strengths and weaknesses of the property. Failure to do this will result in the house being overpriced and stagnating on the market.
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Consider the exterior appeal. The first image prospective buyers will get of your beloved property is from the kerbside. If your house does not have an aesthetically pleasing exterior, do some sprucing up before you attempt to sell the property, as an unattractive exterior can drive away buyers before they even enter the residence.
Consider the landscaping. Houses that are surrounded by lush foliage are generally more desirable than those that exist on barren plots of land, devoid of green. Make sure your land has been kept up and adequately watered, as brown and dying plants detract from the overall appeal of a property.
Look around the neighbourhood. Unfortunately for some homeowners, the value of their properties is at least in part dependent upon the quality of their neighbourhoods. If your neighbourhood is filled with rundown or, worse still, abandoned properties, then your house value will suffer. Consider the general area when pricing your property, as realtors commonly check the market values of properties in the neighbourhood as an indication of the value of your property.
Take renovations into account. Potential buyers will be interested in the renovations you have completed and how recently the improvements have been made. If you have made costly renovations or improvements, such as replacing the roof, it will increase your property value, as potential buyers will know that they will not have to pay for these expensive repairs any time in the near future.
Sniff around. Undesirable odours negatively impact your property value. One of the first impressions an individual gets when walking into a house is the smell of the interior. If your house smells of cigarette smoke or pet odour, it will decrease your property value. If odours lurk throughout your property, consider bringing in a professional cleaning team to clean the carpets and fabric throughout the house and banish the potentially costly scent.
Pay attention to cleanliness. The overall cleanliness of your house can attract or detract buyers. Use a critical eye and judge the cleanliness of the property. Even if the dirt and dust present in the nooks and crannies of your house doesn't bother you, they likely will bother potential home buyers.
Consider the age of all major appliances. If your house has newer air conditioning and heating equipment and an updated water heater, it will improve your house value. These household items are quite costly to replace. If potential buyers think they will have to replace these elements in the near future, they will likely want to deduct the cost of replacing them from the home price.
Take room size into account. Most buyers want spacious, open houses. Homes with large, open rooms are traditionally more desirable than those that are closed off and stuffy. Although you can't do anything about your room size, you do need to take this factor into account when evaluating the merits of your property.
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