Are you thinking of selling your house?
There are some things that it would be useful to understand, as you will face a number of well-prepared opponents in real estate valuations. It’s gonna be like a wrestling match, and if you’re not prepared, you’re gonna really hurt yourself.
The valuation of a property is subjective. All interested parties seek to impose their views on the basis of their own interests:
The owner calculates the price, not the value. And he does it by adding to the cost paid, the sacrifices made at the time he built or bought it. An intuitive hypothesis of increase due to the elapsed time plus the emotional value of his memories.
The real estate agent will try to pull the price down, aiming to speed up the sale and to collect the commission asap. Or, what is worse, he will try his luck by putting it on sale at your desired price – despite knowing that it is off-market and that it will invariably fall over the course of months, delaying it until the damage becomes practically irreparable.
The appraiser offers an assessment based on a thousand variables depending on the contractor, a valuation for a mortgage does NOT determine a real market value.
So what happens in the end?
That the poor owner ends up accepting his property going on the market at a lower price – or much higher. But it doesn’t end here:
The potential buyer tries to negotiate, nibbling a little more of that value.
In the best of cases the property is sold between 10 and 20% less than it should.
There are variables that you cannot change, such as the location of the property… but you can control an important pillar, the state of it and its presentation on the market.
By investing between 3 and 7% you may increase its value by 12-15%
So, since you will inevitably get on that ring and you know definitely they will try to lower that value, get ready to win!
How to maintain the value of your home
The number one factor to win any fight is to anticipate the moves of your opponent.
You can and must move sooner and faster than your opponent.
There are many things you can do now, before you climb into the ring, small actions that can help keep the real value standing until the final gong.
Depending on budget and time, you can do A LOT with LITTLE money.
Maintaining the level of energy efficiency
Let’s start by checking the state of thermal insulation and supplies.
Let’s take a look at:
Capacity to produce energy in general
Any chipped tiles? Old-fashioned, vintage, neutral? How is the parquet or wood? How are the baseboards?
Sometimes replacing a couple of tiles is enough. Polishing floors can be a magnificent action. In the worst case, trying to change or cover them may be the best option. However expensive it may seem, this action alone greatly increases the sales value.
Paint the walls
Another action that costs very little compared to the value it adds.
Whether you want to do it yourself or trust a professional, in a couple of days and with little budget you can make up the walls and refresh the rooms.
Natural lighting radically changes the look of a house. That’s why it’s important to make sure you have clean glass and adequate curtains to orient the light during daytime hours.
The same applies to artificial lighting: what kind of light do light bulbs emit? Is it possible to gradually change the power of light? Are the light bulbs you use energy saving or are they the old fashioned ones?
Do you have lamps in the corners of rooms and lounges, to give a quieter atmosphere depending on the moment?
Speaking of switches, what’s their status? It influences more than you believe in the value that the potential buyer can perceive during a visit, both for aesthetics and safety.
If you are thinking of selling your house soon and decide to change it, better a neutral design, than a too original one.
This simple rule applies to all the elements that are in the house, from the kitchen to the bathroom, from the accessories to the floor. The more “neutral” the taste you adopt, the wider the range of tastes you will get.
balconies and terraces
Balconies and terraces increase the basic value of a property but they represent a problem if not treated properly. In the meantime, let’s paint there too.
Do you have plants? In what state are they?
The layout and the very nature of the plants can completely change the perception of a balcony or terrace. Maybe we should buy a couple of plants that give us the touch we need to get all the splendor of this space. Maybe we should put the old swing back in?
Garages and basements
Let’s tidy up first!
Make sure you start from here to give the whole house a better look. I’ll explain why this is the nerve center of the whole house.
If you have a basement or garage, chances are this is where all the objects accumulate over time, so the first valuable tip is: get rid of everything you don’t need!
Most people have difficulty finding a connection between this action and the mess in the rest of the house, and yet, it is so. If you free up space in the basement, getting rid of objects you don’t need, you can use that same space for other objects that have accumulated in the meantime and may still be useful.
You will be able to reorganize the areas to find a new place for many objects that are now invading your rooms.
If you can do this, you’ll be the first to be surprised by the order of the house. It is particularly useful when the agent, the appraiser, and also the potential buyer enter to evaluate your property.
Once you’ve resolved the matter of settling, evaluate whether even in the garage or in the basement you need to make up walls or repair floors.
Let’s get something moving!
In the end (it’s best to do it after any action) give yourself a chance to see things from another perspective.
Sometimes, just changing the layout of the furniture achieves a better distribution than the time and use had established.
Call now: +34 646 431 340 and book our Shield Check Up, a personalized consultation FREE AND WITHOUT COMMITMENT. We’ll help you understand how to make an estimate of the interventions and give you a detailed list of actions you can implement at no cost or at low cost for makeup to your home.