How To Work Out How Much Your House Is Worth

How difficult is it to sell a house?

Selling a house is not rocket science but you do need to get the pricing right.

It is just like any other thing in the world which comes with principles and basics.

These basics of buying or selling when summed up practically can be called as house valuation and the goal of every home owner is to sell the house quickly for 100% of market value.

Anything less than this can be viewed as a failure.

House evaluation is a term which you must have come across a couple of times especially if you have been in the real estate industry or have been doing some research lately.

It basically refers to calculating a fair selling price of the property at a given period.

The sum must be such that is satisfies both – buyer and the seller.

For the buyer, the value must be in accordance to the market price and as per what features, locations etc the property offers.

For the seller, he must be satisfied too and get a price which he feels is appropriate and as per what he expected.

Now, the question is that how do we evaluate and work out how much your house is worth?

Though doing so isn’t tough but it’s tricky and definitely requires a good amount of experience in the industry to calculate the correct value.

A buyer or a seller must get evaluation done from a good evaluator before finalising any deal.

It is essential as it can help you fetch the right amount of money for your house or pay what a property is really valued at.

 

How To Improve The Saleability Of Your Home?

When it comes to selling a property, there are certain requirements, parameters or what we can call as criterion which an evaluator generally looks for.

He glances at the property from various perspectives in order to make the right evaluation.

I, as an evaluator, do follow the basics of evaluation. So here are what we generally consider or check when we evaluate your property.

 

SIZE:

The first and foremost thing and no doubt the most basic thing one checks out is the size of the property.

All other things being equal, the larger the square footage of the property, the higher the price.

When it comes to size and shape, rectangular and square shaped plots generally have a better selling price.

Space in front and back matters too.

A property with a lawn in front or a backyard at the back will fetch a higher evaluated value as compared to the one with less or no space in front of backyard.

 

LOCATION:

The second most important thing after size is location.

A property located within the heart of the city usually has all the basic amenities like hospital, schools, gym, multiplexes etc nearby.

Such a house has a better market price due to its location. Whereas a property distant or in a suburb from a town will have a lesser price despite being equal in size.

 

BEDROOMS & BATHROOMS:

If your property has got only bedrooms despite being built up in 500 yards then the price it will be valued at will generally be for the space and not construction.

Utilisation of the space in the property matters.

People generally prefer properties with 4 or at least 3 bedrooms.

Bathrooms play a major role too. Homes with attached bathrooms are preferred by most of the buyers.

 

STORAGE SPACE:

Apart from number of bedrooms, storage space plays a key role.

If a property has store rooms or a garage then it fetches higher prices in the market when sold off.

Buyers prefer space in the master bedroom.

 

SMALL OR LARGE:

When buying a house in the neighbourhood, avoid buying the smallest or the largest house in the area.

Otherwise, your house will fetch lesser price in future when compared with the prices of the other neighbouring houses due to its lesser size or overhead cost of maintenance due to additional larger size.

 

GARAGE:

Everyone owns a car these days.

There are families who have even 2 or more.

So they prefer to buy a property which has a big garage which can fit in at least 2 cars.

 

Getting Advice From Zoopla

And the last piece of advice for buyers will be to check out Zoopla before you finalise your deal and sign the papers.

There you will get houses in the best location and most of the houses there are evaluated by professional which means you will be paying for what they are really worth of.

For more, look at sold house prices on Zoopla as this will provide you with a basic idea of how much houses similar to your house were sold for and will allow you to determine a more accurate price.