When you sell your home, you must place an accurate value on the property. If you put too low a value on it, you will lose money, which may hamper your plans to buy your next home. You may also struggle to generate interest in the property. Therefore, you need to place an accurate value and this means you need a local agent.
There are many factors which influence the value of a property. As you’d expect, the size of the property matters, with the number of bedrooms and bathrooms being a crucial component in the property value. You will also find the condition of the property influences the value. This is to be expected, and no would be surprised at these aspects and how they are integral to the price.
You need someone who knows and understands the local market
However, given the array of external factors which influence property value, you need to call on the services of an expert who knows the local market, and who can accurately assess the external factors.
The level of supply and demand for homes in your area is a significant factor on the value placed on a property. If many homes are available and not many people want to buy, with supply outstripping demand, this will lower the value of a home. If there are not many homes available on the market, and there is a big queue of buyers, with demand outstripping supply, this will increase the value.
In the latter scenario, buyers are keen to step on the property ladder, and this means some will be willing to pay over the odds for the property. A smart agent who understands the local market will recognise this, and they will mark the value of the property accordingly.
Local schools influence property prices
There are also other external factors to consider when it comes to property value. There is a lot to be said for the influence local school ratings and spaces have on property values. If an area has excellent schools in their catchment area, there is a higher level of demand for these homes from families. Therefore, the price a buyer is willing to pay increases, which means most homes will have a higher value.
A similar factor occurs with reliable transport hubs, good shops and other essential amenities. With so many external factors influencing the value of a home, if you are looking to sell your home, you are advised to call on the services of a local expert.
At Country Properties Baldock, we are pleased to say we know the local area and the local property market. If you are looking to arrange a viewing for your property, you should contact us, and we will be more than happy to assist you. If you plan on selling your home, contact us today, and we will be more than pleased to help.