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A guide to your property valuation

 

When it comes to selling your property, it's only natural you want to know all of the facts before beginning.

 

For the majority of us, owning a property will be one of the largest financial commitments we'll make in our lifetime, so making sure that you optimise on its value is really key in order to step further up the property ladder and afford that next dream home.

 

As your leading local expert, we've taken a moment to break down some of the important areas of your market appraisal, so that should you decide to ask an agent to value your property, you'll know exactly what you're getting from them.

 

 

What do we mean by property valuation?

 

A property valuation is an assessment of your property’s value, which takes into account a wide range of factors from the property type and size, to its condition and location, as well as seasonal and national trends.

 

Having a local agent conduct your appraisal can be a really useful advantage, as they'll know the local market and be able to target buyers within that area with the right marketing strategy to generate more viewings for your home.

 

Whilst it's estimated that a seller will have appraisals from two to three agents on average, it's vital that you choose representation based on their service proposition and success metrics, rather than opting for the highest valuation.

 

The aim here is to competitively price your property to achieve the best sale price in the best time frame possible. 

 

Set the price tag too high, and you'll elongate your stay on the market whilst deterring otherwise interested buyers. Set it too low and you'll lose out on its full potential value.

 

Why is it important to get an up-to-date valuation, even when you're not thinking of selling?

 

The market is constantly changing, so whilst you might not be ready to sell right now, it's recommended to keep an eye on how properties are faring near you.

 

If a lot of your neighbours are selling quickly, it can be a really good indicator that you'll be in a prime position to find a buyer at a price and time to suit you.

 

Prices have been increasing year-on-year, so knowing your home's value can also mean that when it does come time to sell and move on, you're already informed and ready to instruct an agent, saving yourself time and energy from the very start of your property journey.

 

Whether you're looking to sell right now or sometime in the future, talk to our agents to find out exactly how much your home could be worth by clicking here

 

 

Buying to become a short-let landlord

 

With a lack of certainty on travel restrictions, many Brits are planning to vacation closer to home this summer, giving investors the opportunity to break into the short-let market.

 

 

Where should you start?

 

Lasting anywhere from one week to six months, short-term rentals can be a great investment choice.

 

Before deciding where to invest, you first need to think about the purpose of your rental, for example, are there any cultural events, attractions or destinations that could prove in-demand and help you to secure higher and more consistent returns?

 

Location is everything within the property sector.

 

Opting for somewhere with great transport links or nearby to an airport could give your accommodation an instant USP that increases its rental value per night or week.

 

The next step would be to determine how involved in the management side of things you want to be.

 

Short-term lets require more work but give you greater flexibility.

 

The key consideration you need to make is how to avoid extended void periods where the property is vacant.

 

If you're looking to be highly involved in your lettings responsibilities, you might find that marketing your property across a multitude of channels helps you to build reviews and a trusted reputation, whereas you might find it beneficial to consult a letting agency if those tasks become too much.

 

To browse our properties and find your next investment, visit our website by clicking here

 

 

  

 

Post-pandemic predictions for the property market

 

After 18 months of uncertainty, the UK property market has seen some incredible highs and lows, from the sector closing and reopening last spring, to the impact of the stamp duty holiday on residential transaction levels.

 

For those looking to buy or sell in 2021, here are the top projections on what will continue to shape activity levels in the coming months.

 

House prices at a record high

 

Initially propelled by the stamp duty holiday, house prices have risen by 10.2% in the year to March 2021, with vaccine optimism now fuelling high demand levels.*

 

With a tapered end this September, homeowners can still save £2,500 on the first £250,000 of a property due to the stamp duty holiday, meaning that sales will continue to push up prices this summer.

 

If you haven't had a recent valuation of your home, talk to us today to gauge its current value.

 

The long-awaited return of overseas property investors

 

Travel has been made all-but-impossible for most travellers.

 

However, with vaccine programs being rolled out in other countries as well as the UK, we should soon see the return of overseas buyers looking for their next investment opportunities.

 

This will be key to help the market fully recover from the events of 2020, particularly for the construction sector.

 

Country locations increase in popularity

 

Remote working became the norm for most of the country's workforce in 2020, which gave people the freedom to move further afield.

 

As outdoor space went up in our estimations, the need for a perfect commute distance became less important, leading to more buyer activity as homeowners and tenants found themselves restless with their current accommodation.

 

More space for remote workers

 

For those whose job will continue to operate remotely, a home office or designated workspace is essential.

 

Larger properties are in short supply, making it the ideal time for homeowners to sell up.

   

Commercial spaces transformed into residential properties

 

Commercial spaces are being left empty, as many people are now opting to work from home, where able.

 

This means that many offices have closed permanently, leading the owners to convert them back into residential properties.

 

Overall, this could have a massive impact on the market.

 

 

Do you want to know your options buying or selling this summer? We'd like to offer you a consultation, visit our website to learn more by clicking here

 

 

*ONS

 

Top home improvements for this summer

 

Over the last 18 months, the number of Brits undertaking DIY projects and renovations has jumped significantly, as we found new ways to pass our time in lockdown and improve our living situations.

 

But, which home improvements have the biggest impact to your property's value?

 

Extensions

 

Adding an extension is one of the most popular home improvement projects, adding up to 23% to your home's sale price.*

 

In fact, in northern regions over 2020, there was a double digit increase in planning permission applications for extensions.

 

Garages

 

Adding a garage is a great way to expand your home.

 

Having a property with secure parking can lower the price of your car insurance policies, as opposed to on-street spaces, whilst making your home more attractive to buyers.

 

Loft conversions

 

Loft conversions are a brilliant way of creating extra space out of an area that is rarely used, whilst contributing an additional 20% in value to your property's price.*

 

Due to COVID-19, people are looking for space for home offices.

 

A loft conversion is the perfect solution!

 

Conservatories

 

One of the great advantages of building a conservatory is that planning permission is more straightforward.

 

It also adds around 5% to the value of your house.*

 

Outbuildings and sheds

 

Green space has become massively important to us.

 

Having an outdoor space that can be used for storing gardening equipment or even as somewhere to relax is highly desirable.

 

Find out how much your lockdown improvements have added to your property.

 

Book a free valuation with us today by clicking here

 

 

 

 

 

*Nationwide, Homeowners Alliance and Conservatory Expert