Not all Residential Real Estate Valuation professionals love to share their opinions with the public. That’s why you need to read this blog to know ways to get a great valuation.
Although they are uniquely qualified to generate reliable opinions of a property's value, there are some strange things they consider while appraising the properties. We’ve come up with four such unexpected things.
Tragedy, death, and other negativity attached to the property
Real estate appraisal Ottawa professionals consider infamous incidents such as suicides, hauntings, and murders during valuation. They call those properties "psychologically branded."
Property owners willing to sell immediately after a sad occurrence get a very less valuation. If they wait for some months or years, people forget those negative events and they might get a fair valuation.
According to ransom surveys, a property's value normally drops by 15% to 25% for a few years after the event. Although the stigma may fade, there are some exceptions.
Bad smells due to cigarette smoking, damping, and more
Do you know cigarette smoking isn't just bad for your health; the odor can affect the value of your home? Your ability to sell the home at good prices is greatly impacted by the bad smells. One random survey showed that 76 percent of Realtors feel smoking lowers the value of a home.
Moreover, over 70% of those polled stated prospective buyers are unwilling or less inclined to buy a home with a bad smell. Despite contacting a good Real Estate Appraiser Montreal, selling a smoker's property is more challenging.
There is no specific method for measuring this loss in value but one thing is sure, Cigarette smoke "substantially" reduced the value of a home. Besides cigarettes, dampness, pets, or heavy culinary spices may lead to a lower sale price.
Your next-door neighbors
Properties with negative surroundings such as uncontrolled pets, unkempt yards, noisy residents, or badly maintained properties lead to bad appraisal.
According to Commercial Real Estate Appraisal experts, the property valuation declines 5 to 10 % because of a bad neighborhood. Moreover, electricity lines, commuter railways, and motorways, also influence an appraiser's assessment.
No or very little curb appeal
Curb appeal is one of the prominent factors affecting the valuation. When it comes to selling a home, the buyer's initial impression of the property gets a great pushing when there is a green and peaceful environment. Landscaping may have a big impact on home values.
You’ll be surprised to know that 85 percent of people consider gardening while purchasing a home. The appraiser's assessment of value will be influenced by the subject property's landscaping, which may be old, sparse, or improper for the geographic location.
Your décor may be overlooked by the appraiser, but a house with so much mismanagement will never receive a favourable valuation. A neat, aesthetically beautiful home that makes the most of its space will certainly perform better than one that is disorganised.
Final word
Contact UCAS- real estate appraisal Ottawa if you want to get good valuation of your property. We assist you in locating an ideal property in the most desirable area within your budget.
