Tips on Market Appraisals
- Look for documented evidence of similar properties that have sold recently in your area
- Find out how long these properties took to sell
- Compare your home to others that are currently on the market
- Find out how long current properties have been on the market
- Compare the number of bedrooms, bathrooms and garage spaces with other houses that have sold
- Consider what needs updating, eg light fittings, blinds, floor coverings
- Work out the age of your kitchen and bathroom(s)
- Identify what maintenance is required on your home
- Assess how your landscaping presents to the market
Why should I get an Appraisal?
- To get a professional opinion on the likely selling price of your home should you decide to put your property on the market
- To get ideas on any improvements you can make and how to get the best “bang for your buck" from those improvements
- To see where your property sits on the market, even if you have no immediate plans to sell
- To check that you won’t overcapitalise on your property if contemplating a renovation or extension
- To get an opinion on what your property might sell for, with and without renovations.
- To use for insurance purposes so that you could purchase another property of a similar value in the event of a disaster.
What do I get after an Appraisal is conducted?
I will give you:
- A written report on the results of my research and where this information came from.
- Details of what your property previously sold for
- Details of your competition should you put your property on the market right now. It’s important to know that a property never sells in isolation.
- Details of previous sales in your area
Past sale prices give the best indication of what your property might sell for. These prices indicate “money in the bank”, not ego driven / wishful thinking that might have been built into the price before the sale.