If you are considering selling your home, it is important that you list it at the correct price. To do so, you need to understand your property and its potential buyers. Here is a brief guide on how to ensure you get the right valuation for your home:
- Understand Logical Value
Logical value can be calculated using algorithms which aim to give you an approximate value of your home. These are based on postcodes, sale prices in your area, and prices that your house previously sold for. Whilst these factors can be a good indication of potential value, they don’t actually take into account the uniqueness of your home. Therefore, logical value is the starting point, from which you progress to get the correct valuation for your home.
- Understand Emotional Value
A property is only worth what somebody is prepared to pay for it. This may seem obvious, however, the underlying message indicates that the emotional value of a home is actually the most important aspect to consider. If someone feels a deep connection to your home, its location, or its land, then they are more likely to pay a higher price than someone who thinks of it as just a property.
- Understand Premiums
Understanding the different premiums that buyers look for allows you to get the right valuation for your home. Nearby features such as schools, transport links, shops or even the beach, can be huge incentives for certain buyers. Similarly, your home may have specific premium features which allow it to be valued higher. For example, solid wood or slate floors; a recently renovated kitchen or a beautifully landscaped garden.
- Find the Perfect Estate Agent
It is vitally important to choose your estate agent wisely so that your home is valued correctly. Don’t necessarily go for the estate agent that gives you the highest valuation because they may not have the correct buyer pool to actually sell the property at that price. Go for the estate agent that fully understands the logical value, the emotional value and the property premiums, and gives a realistic selling price based on a combination of these 3 things.
At Mallards, our expert staff have extensive knowledge and experience within the local property market. We know what local buyers want, and what other properties are on the market. We strive to provide an expert, honest and individual service and will ensure you get the right valuation for your home. For more information visit www.mallard-properties.co.uk