Selling a home is always an experience, no matter how many times you’ve done it. You’ll learn something new each time, depending on the type of home you’re selling, the area, and market trends. What doesn’t change is the need for home valuation to get an idea about the general worth of your property.
However, that’s not the only benefit you get from getting your home appraised. Home valuation is a key part of real estate selling and makes the process smooth and efficient. This blog will help you understand the benefits of property valuation and discuss a few tips to improve yours.
What Is Home Valuation?
Home valuation is the process of getting an unbiased professional opinion of your home’s value. The person providing the valuation is typically a licensed home inspector or a general contractor. They evaluate the following aspects of your home to give a valuation based on the existing market conditions:
- Attic and Insulation
- HVAC system
- Electrical and heating systems
- Overall condition of walls
- Condition of doors and windows
- General maintenance
- Basement (if applicable)
Stated above are the primary aspects an inspector will consider when assessing a property’s overall value. There is no need to worry, though. An inspector will not look for perfection. Keeping the basics well-maintained should lead to an evaluation that helps you close the sale.
Benefits of Home Valuation When Selling a Home
The process may sound daunting, but it has several benefits. Here are some of the top reasons getting a home valuation will go in your favor:
1. Knowledge About Home’s Strengths and Weaknesses
Avoiding property valuation is pointless because most buyers arrange an inspection anyway. By getting an inspection before putting the property for sale, you’ll at least know more about your home’s strengths and weaknesses.
This knowledge will help you and your real estate agent knows what to focus on when marketing your home.
2. You’ll Have a Base Comparison.
A house evaluation is a great way to get a base idea about your property’s relative value in your neighborhood. Having a higher than average property value is an excellent opportunity if you intend to sell your home for a premium.
It’ll be challenging to convince buyers to pay a premium without an inspection certification proving your property is worth the money.
3. Adjust Pricing Based to Match Value
The typical pricing strategy is to consider the average value in the neighborhood and set a matching price. However, the case may not always apply depending on your property’s condition, positioning, access, etc. A home evaluation takes these factors into account during assessment.
The benefit is that you’ll know the difference between your home’s pricing and actual valuation. You can then adjust the pricing to match the value or make necessary adjustments to improve your scores to get a better deal.
Robert DeFalco Realty’s team has the experience, will consider the situation, and recommend the option that maximizes the transaction value.
4. Legitimizes Sale Proposition
House maintenance is expensive, but it’s not always as easy to tell how much money goes into it from a simple house tour. If you invested money for repairs, painting, and roofing, you should benefit from it at the time of sale.
Getting a home valuation is the best way to legitimize your demand for a higher price because the inspection will corroborate your claim. Inspectors consider a house’s structural condition when giving scores, and your investment will get great scores.
Additionally, an inspection will also reduce buyer apprehension since it will provide clarity about the house’s state. A good score will prove the offer isn’t a scam and increase confidence.
5. Perform Doable Corrections You May Have Missed
Technically, it would be best to get all the repair work done before the inspection. However, there is always a chance that you missed something minor. An inspection will point it out. Hence, the property evaluation will help you to get the necessary work done (if it’s doable) before a buyer comes for the house tour.
Home Maintenance Tips Before the Valuation
Are you already anxious about hiring an inspector for a home evaluation report? Don’t be. Here are a few tips to improve your house appraisal scores.
1. Check for Water Damage
14,000 homes in the US experience some water damage emergency each day.
Water damage is a sneaky but serious problem most properties face and need repairs. It can result from poor plumbing, insulation, roof damage, etc. The problem is that delayed response can cause structural damage.
Therefore, look for wet patches on walls, ceilings, floors, or random puddles around the house. These patches and puddles are signs you need water damage restoration.
2. Inspect House for Signs of Mold Growth
Mold is technically a consequence of water damage. However, it requires special mention because it can be harmful. There are several kinds of molds, all with distinct characteristics and hazardous properties.
Ignoring mold can cause infestations, hazardous for people with mold allergies. Mold infestations also weaken the foundations of the house, making it vulnerable. Such incidents are especially likely in New York due to the proximity to the coast, so get regular mold inspections to know about potential mold growth.
3. Confirm There’s No Pest Infestation
The last thing you want on your inspection report is a note about pest infestation. Pests are a walking health hazard, spreading infections and dirt as they scurry about the house.
An infestation can automatically get the house value to plummet. That’s all the more reason to get pest extermination before the inspection. Our team can guide you to several reputable businesses for pest inspections to determine if you need pest extermination.
Overall, getting a home evaluation is beneficial for you when selling your house. It legitimizes your claim, gives you an idea about your property’s value, and helps you identify strengths and weaknesses.
If you are interested in selling your home, please contact our team. We will lend you our full support to ensure you get the best deal possible. You can also send us any questions you may have about the process, and we will respond as soon as possible.