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What Are The Factors Affecting The Valuation Of Home And Property?

A property’s value is mostly determined by the volume of usable space and the amount of square footage. The number of bedrooms and bathrooms that a house contains can significantly increase its value. The location of the property or house will also impact its value. An estate agent may also inflate the price to encourage you to list with them. All the information is compiled to form a comprehensive explanation and conclusion regarding the outcome of the valuation report. Here we will discuss the factors affecting the valuation of home and property.

Upgrades and updates

The outdated features can create a negative impact on the value of your home and property especially when it comes to the kitchen or bathroom. Therefore you need to update and upgrade to considerably increase the real estate property valuation in Perth. The outside of the property also needs to be well maintained and you must not ignore overgrown trees, bushes and weeds.

Age and condition

The first impression of the property creates a great impact for the buyers. The maintenance neglect like the leaky plumbing and signs of damp or missing roof tiles gives a poor presentation of the property but also reduces its property value online in Perth. The cheap renovation will also cost you a lot.

Economic factors

The factors of the economy also create a great impact on the real estate property valuation in Perth. If the economy is booming, then there are more jobs and people can earn more money. It will result in more likely to invest in homes. This creates an increase in demand and then bumps up the house prices.

Expert valuers are required at the time of valuing a property. A good valuer will assess the real estate and afford clients with an equitable outcome. The factors influencing your particular real estate’s value can also depend on the type of valuation report you require.

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A Few Vital Questions To Ask Your Real Estate Agent Before Hiring

If you are buying or selling a property, the assistance of a real estate agent is somewhat indispensable. These professionals are adept in advising you regarding market trends and legal compliance, things that you should be aware of. They can also help you decide a price for your property, besides taking other important decisions. If you are planning to opt for the services of a real estate agent in West Perth or elsewhere, these are the questions that you should ask before hiring:

While buying a property

1: Who is the real owner of the property?

Learn everything about the vendor from your agent. It will help decide the final selling price, and if you can bargain a little.

Q.2: How is the neighbourhood?

Besides the property, it is essential to gain some information about the neighbourhood and the accessibility of the property. Such information will also help you assess the price of the property and make negotiations if possible.

Q.3: Are there any development projects going on in the area?

It can also affect the property, so you need to be critical about these things.

While selling a property

Q.1: What are the cons of my property?

Take honest feedback from your real estate agent to understand which areas you need to repair or improve to set a fair price.

Q.2: Is there any cost of selling the property?

It is essential to get as much information out of your agent to prevent shocks from “hidden costs” in the future. They will explain everything, so you need not get surprised (or shocked) by taxes and related stuff.

Q.3: What is the marketing plan for the property?

Know how your agent plans to market the property both in social media and in real time. An experienced real estate agent in East Perth will make use of all available platforms to market your property and find the best buyer.

If you have any other questions, do ask the same before the agent starts planning the sale. Understand the market trends before buying, and let the agent help you in every step of the way.

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Factors To Consider For Determining Property Valuation

Are you looking to sell a property or buy one? In both cases, you may need to consider a few factors to determine the valuation. This is the perfect way to make the best move. It’s a formal process that can also be executed with the help of professionals. In fact, it is important that you let professionals do the job for you in order to play it safe and smart. Investing in them can help you find the right price for your home. Professionals offering the determination of a property value online in Perth can be your best bet in this regard. For your information, you should consider learning the factors for perfect determination, which are mentioned below.

Land Size

The first factor that you need to consider is the land size. Every property valuer will start by looking at the land size of the property you want to sell or buy. The size of the home is also considered in this factor, and the professional will also measure it.

Age and Condition

Your professional property valuer will be responsible for knowing the age of the home while also looking into its condition. A 20-year-old home that has been well maintained and even renovated once a year is considered a good property to invest in.

Number of Rooms and Bathrooms

The third factor is also one of the most important ones, which talks about the number of bedrooms and bathrooms. This factor also includes other rooms like the laundry room, storage room, and garage. A real estate property valuation in Perth often considers this factor primarily.

If you want to buy a property or sell one of yours, you need to understand the above-mentioned factors and, thereby, use them in the process. But in order to ease it up, you can consider hiring a professional valuer. They have a better understanding of it and can accordingly help you in the best possible way, using their expertise and experience.