February 26, 2021

How to Increase your Property Value During a Market Appraisal

Are you thinking of listing your Northern Beaches property for sale this year? Then you should have a market appraisal or two completed to ensure you’ll get the most out of your real estate. Market appraisals are usually provided free by real estate agents who are looking to sell your property for you. As the owner, you can follow some tips to increase your property value during a market appraisal and achieve your property’s best asking price.

 

Condition

If your house looks brand new, then there is nothing else for you to do. However, if even you admit that it does need a little touch up here and there, then it’s time for you to take action. A real estate agent doing a market appraisal will certainly inspect the condition of your house or apartment as it’s a factor greatly affecting the estimated selling price.

From making sure the columns of your house or apartment are standing strong without visible cracks to erasing the signs of wear-and-tear from high impact areas like doorways, floors, and stairs - checking and fixing all of these will help your real estate agent arrive at a figure that is closer to the ideal selling price.

Even if your house or apartment has been in use for years, if not decades, there is still a way to give it a good facelift, by deep cleaning both the indoor and outdoor areas of your property. Pressure or power wash your patio to get rid of dust, dirt, and grime. Give your windows a thorough wipe, including the windowsill and corners where dust and dirt love to call home. Hire carpet cleaners and make sure no room is left out in the cleaning process.

If you need to remove your appliance and furniture to clean the rooms thoroughly, do so. Nothing beats a deep-cleaned property that almost looks like it’s brand new.

Features

If you’re seeking to enter the competitive Northern Beaches real estate market, then it’s time to brush up on what features are the most sought-after by buyers in your neighbourhood. Ask your real estate agent if your patio will be better converted as an outdoor living/dining room or kitchen for example. Consider adding a fire pit or outdoor fireplace? Maybe a pergola or patio cover will extend the outdoor living space and consequently, your property’s living area?

Each square metre added to a living area is an increase in your market appraisal. Although, be mindful to not go overboard and convert every spot into something. It’s always best to select a spot and leave the rest so the new owner can add his or her own improvements.

Recent Improvements

While you’re doing all the refurbishing and updating of your house or apartment, also take note of what these recent improvements are. Keep the receipts and bills for the upgrades and renovations you have made to your property. This way, a real estate agent making the market appraisal can factor in these improvements and their real cost into the estimate.  

Take note also of the recent improvements in your area, new transportation links, restaurants, services, even government offices can be a deciding factor for a buyer to choose your property.

With these tips, we hope to have empowered you as an owner in increasing your property value during a market appraisal. Do some - or all of these and you’ll see returns on your effort.

Ready to get market appraisal for your property in the Northern Beaches? Get in touch with Clarke & Humel today.