Individuals looking to sell their houses, must ensure that the valuation of their respective properties have been done correctly. After doing a market survey, there are steps that you can take, to improve the valuation of your house. In other words, property owners can help improve the price of their houses. The price of a property depends greatly upon its appearance and condition. A well maintained house, with minimum requirement for renovation is bound to fetch a higher price than a less maintained one. Additionally, you must also be aware of the ongoing property prices in the region, to evaluate areas wherein you can help, to increase the valuation of a property.
Steve Liefschultz CEO of Equity Bank, has long been associated with real estate development. With his experience in property pricing and real estate, Liefschultz believes that property owners have major contribution in increasing the valuation of a house. A simple thing like a well maintained lawn or a landscaped garden can help to increase the price of a house. If you are seeking a loan from a bank or a financial institution, to purchase a new home by selling your old house, it is all the more important to ensure that your property receives a higher appraisal. If your property does not receive a higher valuation, then the loan may not be sanctioned by the bank or the financial institution. Some of the steps that you could take to ensure that your home receives a higher appraisal are as follows:
- All property dealers mention that it is essential to ensure all the property papers are in order, before you put up your house for sale. Ensure that the property taxes and mortgages attached to the property are paid. Any outstanding loan against the house will reduce the valuation of the entire estate.
- As the seller it is essential that you ensure that the property is well maintained. A well-kept house always receives a higher appraisal. Proper wiring, well maintained kitchen, well designed bathroom and a properly maintained lawn can help increase the price of a house extensively. This is especially applicable for owners looking to sell older houses that they have inherited. If required make certain changes to the property, in order to create a good first impression on the prospective buyers.
- You should take an objective view of the transaction. Having lived in the house for a long time, you are bound to get attached to it sentimentally. However, you should ensure that sentimentality does not affect the property valuation. It is good idea to keep sentimental items such as photographs and trophies away, so that the home buyers who come to visit are impressed by the house and do not feel that they are encroaching on someone’s sentiments.
Thus, it is essential that you take proactive steps to improve the valuation of your property. Steve Liefschultz mentions that homeowners can improve the price of a property extensively by taking certain minor steps.