Property valuation is a crucial factor that every homeowner must consider. Whether you are planning to sell your property or rent it out, you want to ensure that you get the best possible value. Property valuation can be influenced by various factors, such as location, condition, size, and amenities. However, there are ways to improve your property valuation, and in this article, we will discuss some of the most effective ways.
1. Renovate and upgrade
Renovating your property is one of the most effective ways to improve its value. You can start by upgrading the kitchen and bathroom, as these are the most commonly used areas in a home. You can also consider adding a new coat of paint, changing the flooring, or replacing the windows. These improvements will not only improve the value of your property but also make it more attractive to potential buyers or renters.
2. Enhance curb appeal
The first impression of your property is critical. Enhancing the curb appeal of your property can make a significant difference in its value. You can achieve this by adding some plants and flowers, repainting the exterior walls, or installing new lighting fixtures. A well-maintained lawn and garden can also increase the value of your property.
3. Maintain the property
Keeping your property well-maintained is essential to its value. Regular maintenance can prevent minor issues from becoming significant problems. It also shows potential buyers or renters that you have taken good care of the property, which can increase their confidence in purchasing or renting it. You should ensure that all the appliances, electrical and plumbing systems are functioning correctly, and the property is clean and tidy.
4. Add energy-efficient features
Energy-efficient features can not only improve the value of your property but also save you money on energy bills. Adding features such as solar panels, energy-efficient windows, or insulation can make your property more attractive to potential buyers or renters.
5. Find a reputable valuer.
Third-party chartered surveyors are considered the gold standard in property valuations by insurers, as they offer reassurance that calculations were conducted by experienced and objective professionals. As such, it’s vital to secure a trusted and reputable surveyor.
6. Consult other parties.
Determining the value of a property should be a team effort. Make sure to compile a variety of property data from multiple qualified parties (eg accountants, contractors, estate agent professionals, risk managers, insurance professionals and chief financial officers) when making valuation decisions.