The valuer will look at a range of factors, such as the type and size of the property, its location, condition, age, garden size, development potential, parking and the value of similar properties in the local area.
A valuer will take all the following things into consideration before providing their valuation:
- Condition
- Space
- Kitchen
- Parking
- Location
- Expansion potential
- Unique characteristics
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Condition
A primary consideration for a valuer when valuing a house is its condition. Is the property structurally sound? A valuer will look for cracks in the interior or external walls, or any evidence of subsidence. The state of roof tiles and guttering will be inspected. Any significant remedial repair work that is needed on the property will affect its value.
Are there signs of damp inside, such as peeling wallpaper or black marks on the walls or ceilings? How old is the boiler? Does money need to be spent modernising the property? If a house needs new carpets or a new bathroom buyers will be looking to reduce what they are prepared to pay for the property.
Space
How many bedrooms does the property have? What size is the plot? How big is the garden? Space is an important factor when valuing a house, but size alone does not determine the valuation. In the UK the number of bedrooms is more important for families, because of the preference for children to have their own room.
Kitchen
A huge tick for any valuer is seeing a property with a modern kitchen that does not need replacing. An agent valuing a property will also consider the layout of the kitchen, the age of the white goods (if they are forming part of the sale), the worktop space. Read our property valuation checklist for more ideas on what questions a valuer might ask you during the valuation.
Parking
Where can you park? Does the property have a garage or driveway? Private off-road car parking spaces are not always guaranteed, especially for properties in urban areas. For these types of properties valuers will want to know how easy it is to park close to the property and whether parking permits are needed.
Location
Location, location, location – where have we heard that before?! It’s so true though. A valuer will know the market value of similar properties in the local area, and how this is affected by proximity to schools, shops, transport links and outdoor space.
Expansion Potential
Is there potential to develop the property? This is an important consideration for valuers, as buyers will look more favourably on properties that can grow as their families or needs grow. Could outside space be used for an extension, a loft turned into a bedroom, or a cellar into a study? Valuers will want to know if any planning permission applications already exist for the property, which will improve your chances of receiving a higher valuation.
If a property is listed or is in a conservation area, potential for development will be limited.
Unique Characteristics
No two properties are the same, and some will have unique features that can increase its value. Valuers will look for things that make a house stand out from the crowd. Original fireplaces, staircases, south facing windows, walk-in baths, smart lighting, wet rooms – all these features could make a difference to a valuation.
Are you ready for a house valuation?
If you are looking for a valuation on your property, haart offer a free, up to date, no obligation valuation service. Valuations take around 40 minutes and will give you an accurate idea of what the asking price of your property will be when it is up for sale. Our agent will be able to spend time during the valuation recommending the kind of improvements or changes that could add value to your property.
