Author: Jawitz Properties
18 June 2020
Everything you need to know about property valuations
If you’re thinking about putting your property on the market, the first thing you need to know is how much it’s worth. This will give you a realistic impression of how much money you will make from the sale – and it also gives you the ability to plan your next step. If your next step is to buy another property, you’ll have a good idea of how much you’ll be able to spend. If you’ve decided to put your property on the market, the first thing to do is contact Jawitz Properties and request a valuation of your property.
A valuation involves far more than an estate agent visiting your home and making some educated guesses. For starters, having an informed opinion about what your property is worth involves knowing your town and specific neighbourhood inside-out. That’s why the Jawitz Properties team has dedicated many years to getting to know every corner of South Africa. Other parts of the valuation process include looking at market trends and the selling prices of properties that have recently been sold in your area.
What factors impact your property’s valuation?
The old real-estate adage of “location, location, location” comes into play here, as property prices vary greatly from one area to another. This means that a home in Sandton is likely to have a much higher price tag than a similar home in other areas of Gauteng. This is based purely on where the property is located, and does not take what the home has to offer into consideration. Even within the same suburb, factors such as proximity to shopping centres, schools and other amenities will play a role in determining how much your property is worth.
Property size is another factor. In many areas, buyers have proven that they are willing to pay more for some extra space. This is all relative though, and in areas in which a lock-up-and-go lifestyle is sought after, large properties may struggle to sell.
The repo rate and other economic factors also have a role to play in determining the value of your property.
What about the property itself?
The unique selling points that your home has to offer also have a large role to play in the valuation of your home. For example, a home with tiled or stylishly laminated floors is likely to fetch a higher price than a home carpeted back in the 1980s. The rule of thumb is that if you plan to do renovations before putting your home on the market, the areas to focus on are the kitchen and bathrooms.
Homes with multiple living areas and entertainment areas are likely to be more highly valued than smaller properties in a similar area, but the specific location and condition of the property will also be taken into consideration.
Another factor which will play a part in the valuation of your property is security. Make sure that, as far as possible, all dense bush that’s close to your gate has been cut back.
Things to remember when getting your property valued
In the time of COVID-19, it’s great to know that getting your house valued does not mean exposing yourself and your family to unnecessary risk. Jawitz Properties offers free digital evaluations, and our team of experts can work from a healthy distance to give you your much-needed home valuation.
While you can also look at your municipal valuation, this is not reliable, because it will not take the condition of your property into consideration.
It is also important to remember that the value of your home is not necessarily the amount you will get for selling it – but it provides a good basis for an asking price.
Having your home valued can be an emotional experience. To you and your family, it has been your world and it is worth everything. Contact us and book your free digital valuation and allow your Jawitz Real Agent to worry about the numbers, while you focus on everything that the future has in store after the sale of your home. Our valuations are free, and they create no obligation to sell your property with us.
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