There are lots of different factors that can affect how much a house will sell for. There are several fairly obvious factors involved, such as the number of bedrooms and bathrooms, but there are also some hidden or surprising factors that can have an impact on the price of the house.
Use of space
The number of bedrooms, bathrooms and parking spaces will all affect the price of the house, sometimes dramatically. Having lots of storage space, an attic, or a garage will also increase not only the price of the house, but the amount of interest there is in the house when you come to sell.
It’s a good idea to look into whether there are any structural problems within the house before you put it on the market – if buyers commission a survey and find major problems, they can renegotiate and potentially knock a significant amount off the price.
Problems can include subsidence, dampness, plumbing issues, broken tiles, and leaks. Investing in ongoing maintenance throughout the time you live at a house is a good way to sell your house for the best price when you come to move on.
Where your house is situated can affect its asking price significantly. Factors such as schools, services, local jobs, and social activities can have an impact on the prices of property in the surrounding area.
The price of your house also needs to fall in line with the prices of other properties in the area. Your 2-bedroom house, for example, should have a roughly similar valuation to the 2-bedroom house of the same size across the street.
This may be a bit of an obvious one, but that doesn’t mean we should leave it off the list! The strength of the overall economy of the country will certainly have a big impact on the real estate market. Factors such as unemployment will play a part here, as housing prices depend on the public’s ability to afford them and support the housing market.
Yes, having pets, namely cats and dogs, can bring down the price of the property – having a pet-free home can be a selling point.
But don’t worry too much if you’re an animal lover! As long as your pet isn’t too smelly, there aren’t hairs everywhere, and they don’t intimidate house viewers, they shouldn’t knock down the price.
For more info or if you would like to discuss selling your house with us, get in touch with us here.