Property Value Factors

When it comes to appraising a property’s value, the building and its attributes plus land value are the main factors. 

Below is a guide on contemporary attitudes towards property values of residential homes:

Bedrooms

The number of bedrooms is a highly important factor when estimating a property’s value. Over the last 50 years the number of bedrooms in a typical home has grown from two to four, but the average household size has decreased. 

Regardless of this shrinking household size, the desire for larger homes remains strong and the market tends to put higher value on four bedroom houses and three bedroom apartments. Extra bedrooms offer flexible lifestyle options such as a home office, hobby room or guest bedroom.

Bathrooms

The number of bathrooms and toilets is second only to the number of bedrooms when it comes to buyer interest. The market looks for a second bathroom and/or en suite bathroom. 

Storage

This is an underrated influence on value. Homes with plenty of storage spaces are more highly valued.

Multiple living areas/ theatre room

Buyers place a higher value on homes with multiple living areas or a home theatre room. A room with flat screen TV, surround sound and comfy chairs are always in demand.

Garaging

Secure car accommodation is still highly important to buyers. Most households have two cars, so double car garages or larger are sought after.

Kitchen

A well-designed, functional and spacious kitchen with quality draws and cupboards, bench tops and appliances is a priority for today’s home buyers.

Outdoor entertaining area

Whether it’s a simple social space with a modest outdoor setting, or a lavish BBQ and entertaining area, a functional and sheltered outside space that expands the living area of the home is high on buyers’ want list!

All of these factors come together to establish an estimated selling value of the home.

At Dougmal Harcourts – The Property People, when we appraise a property’s value, we take in to consideration all of these attributes, plus current and relevant nearby sales to establish an estimated selling price for your home. Speak to one of our Sales Consultants and ask for a ‘Market Appraisal’to receive all of this up-to-date information personalised to your property.

How to Prepare Your Home For Sale

Every seller wants their home to sell fast and at top dollar. Unfortunately, it’s not just down to luck; it’s careful planning and knowing how to spruce up your home that will send potential buyers scurrying for their cheque books. Here are some ideas on how to prep your house and turn it into an irresistible and marketable home.

1. Disassociate yourself with your home

Give your agent the opportunity to do their job, and potential buyers the space they need to be drawn to the property. Sellers that linger during an open inspection, or start telling stories about their property, will turn most buyers off.

2. De-personalise
Pack away personal photos and family heirlooms. Buyers want to be able to imagine their own life in your home.

3. De-clutter
De-clutter systematically, starting with areas that will be of most interest to buyers when they inspect your home, followed by the areas they’ll do most of their living in. 

4. Clean out and organise storage spaces
Buyers love to see what kind of storage space they will have. Imagine if they open a closet and everything falls out! If they open an organised closet, they will assume you take good care of the rest of the house.

5. Rent a storage unit

Almost every home looks better with less furniture. Consider storing items that block walkways or aren’t necessary to keep in the house while you’re trying to sell.

6. Remove or replace favourite items

If the chandelier in the dining room is a family heirloom, take it down. If buyers never see it, they won’t want it to be included with the house.

7. Make minor repairs

Fix things such as cracked tiles, leaky faucets, burnt out light bulbs and doors that won’t close properly.

8. Make the house sparkle

Buyers will not be impressed if they see lots of dust or dirt. Make sure you make your home sparkle, or hire a professional cleaner if you need some help.

9. Check your curb appeal

If a buyer doesn’t like the exterior of your home, you’ll never get them to look inside. Mow the lawn, trim back plants, clean up, and plant flowers to enhance your home’s curb appeal. 

It always helps to put yourself in the shoes of the buyer, and by making a few little improvements to your home, you are giving it the best chance to sell.