How we value a property

May 6, 2016

Everyone wants to sell their house for its maximum value, but an overpriced house will put off some potential buyers before they’ve even stepped foot inside the property, and could result in a long wait before any offers come in. So how do we value a property? Here are the crucial factors that determine price.

Local area

Ever heard of the Waitrose effect? When a property is surrounded by upmarket amenities such as a Waitrose, what it means is that if there are lots of upmarket shops and restaurants around, such as Waitrose, this suggests affluence and house prices go up. To put it simply – premium brands tend to be in premium locations.

Personal factors

Any improvements made to the property will set it in good steed too. Luxury additions like personal gyms or swimming pools, but even just keeping period features will help with a higher valuation.

Aesthetics

There the obvious things like keeping your abode clean and well presented, but few know how lucrative it is to own property next to water. Just as hotels nearer the sea are more favorable, so are properties close to water . A close second is green spaces. If you can’t see water from your home, being near by a park can give you brownie points.

Potential

Even if your home doesn’t bear all the hallmarks of a great buy, its general potential can still be a saving grace. If you have a loft space that could potentially be turned into a second floor or if things like the cross rail are opening near by, thus improving transport links you could get more than you think for your asset.

Waltham Estates, is a family run Estate Agents based in the heart of Walthamstow. We can sell or let your home in Leyton and Walthamstow, we offer guaranteed rent schemes, so you never have to worry about missing your mortgage payments, should you choose to rent your property.When it comes to Property management in walthamstow, we offer an all inclusive service. Find out more

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