Frequently Asked Questions

Questions about renting

1. Firstly, you’ll need to work out your budget for rent. That also includes the bills you’ll be responsible for as a renter.

2. Be clear on what you’re looking for in your next property. Have questions to ask at the viewing; our rental viewing checklist will help.

3. Prepare your documents (such as references and identification) to get ahead of the competition.

To rent a house you’ll need to provide character references from your current landlord and employer. You’ll also need to prove your income by providing payslips and bank statements.

The letting agent will run a credit check on you to understand if you can afford to pay the rent and if you’re likely to pay it on time.

A tenancy agreement or Assured Shorthold Tenancy Agreement (AST) is the standard contract for the vast majority of rental properties. It comes with various protections, including for your rental deposit. Make sure you check it over before signing the contract.

Question about mortgage calculator

You can calculate a home’s value through a free online valuation tool, hiring an appraiser, or working with a real estate agent to get a comparative analysis. Free online home value calculators look at transactions in your area and public data to generate an estimate. But, if you’re looking for a more accurate number, you’ll need to work with a real estate professional who will look at your property’s condition, the market trends in your area, and other factors to calculate your home’s worth.

What adds value to your home depends on a variety of factors. Some of these variables are external, like a jobs market that attracts new residents to your area, easy access to trails and parks, or the development of local restaurants and shopping centers nearby.

A booming economy and market drivers like a low supply of inventory also work in your favor. These influencers have the potential to boost demand for your home and help it sell for more money.

Other factors are within your control. According to our research, improving your curb appeal with basic lawn care and cleanup is the number 1 thing you can do to improve the marketability of your home. You can also invest in larger upgrades that add value (just be sure to check on the ROI) and keep the house in great shape with proper maintenance over time.

Generally speaking, automated valuation models (AVMs) run some combination of county auditor and tax assessor records, user-submitted data, and property listings and sales through a unique algorithm to arrive at a home value estimate. These tools are able to comb through millions of pieces of data almost instantly. 

Home value is the amount that buyers are willing to pay for a property, depending on a number of factors, such as the location and condition of the home. Fair market value refers to the price that an average or reasonable buyer would spend on a house when there is no existing relationship with the seller, and no extenuating circumstances endearing the buyer to that particular house.

It’s a good idea to check up on our home’s value periodically and start owning your home’s history and value online. When the time comes to sell, buyers are going to look up your address and if the internet says your home is worth less than you’re asking for, it could weaken your negotiating position.

In the weeks and months leading up to listing the property, looking up your home’s value before you sell gives you an idea of how much you can list it for and how your home compares to other listings in the area at that time. You should also check your home’s value when you’re thinking of making major changes to your property, like renovations or your updating property insurance.

After you receive your estimate, we recommend connecting with a top real estate agent who will conduct a comparative market analysis on your behalf to lock in a pricing strategy. With an estimate in hand, you can also calculate the cost of selling your home and find out the net proceeds of the sale.

Question about property valuation

There are several ways to find out the value of your house. From getting advice from an estate agent, using property websites, using online property valuation tools, or seeking advice from professional valuers or surveyors. Getting your property valued depends on your personal preferences, time and budget. However, the most common way to determine how much your house is worth is by getting a property valuation from a qualified professional.

There are different types of valuations available, including instant online valuations, virtual valuations, and in-person valuations from local experts. An instant online valuation is quick and convenient, virtual valuations allow for a more in-depth assessment of your property, while an in-person valuation from a local expert can provide valuable insights into the local property market and factors that may affect your property’s value.

In-person valuations: An in-person home valuation is typically the best type of valuation as it includes a detailed inspection of the property by a local expert. This can involve a thorough assessment of the property’s size, condition, location, and unique features, as well as an analysis of recent sales in the area. The valuer may also take into account any renovations or upgrades that have been made to the property. The result is a more comprehensive and accurate valuation of the property’s current market value, which can be useful when buying or selling a home.

Online valuations: An instant online home valuation typically includes an estimate of the current market value of a property based on publicly available data such as recent sales in the area, property size, and location. Some online valuation tools may also take into account unique features of the property, such as age and condition, to provide a more accurate estimate.

For an online home valuation on your property, use our quick and easy-to-use home valuation tool today to find out how much your house is worth in just the click of a button.

Virtual valuations: Virtual home valuations have become increasingly popular in recent years, particularly in the wake of social distancing and an increase in working from home. This type of valuation involves using video technology to give an estate agent a virtual tour of your property, who then provides a valuation remotely. The benefits of this type of valuation include the convenience of not having to schedule an in-person visit and the speed of the valuation process. However, virtual valuations may not be as accurate as in-person valuations, particularly if there are issues with video quality or connectivity. For a free virtual valuation of your property, book yours today to find out how much your house is worth.

Sales vs Lettings valuations: Sales and lettings home valuations differ in their approach and purpose. A sales valuation is focused on determining the current market value of a property for the purpose of selling it. This involves analysing sales data, the condition of the property, and other factors that can affect its overall value. A lettings valuation is focused on determining the rental value of a property. This involves analysing the local rental market and the demand for properties in the area. The purpose of a lettings valuation is to give landlords an accurate estimate of the rental income they can expect to generate from the property.

1. Receive an accurate estimate: Whether you’re just curious to know the value of your home or if you’re deciding to sell, by choosing to get a valuation of your home, you can find out an accurate estimate of your property’s current market value.

2. Setting an asking price: When selling your home, knowing a suitable asking price can be difficult. Booking a valuation can set a realistic asking price for the property, giving you more peace of mind and improving the chances of a successful sale.

3. Negotiating: Not only can it help with the asking price, but it can also help with negotiating power. Once you know the value, you’ll have a clearer understanding of how high or low you can go in the negotiation stages.

4. Valuable market insights: A home valuation can provide valuable property market information and insights, including recent sales data and trends to help you compare.

5. Potential issues: A valuation can help highlight any problems that may arise when selling your property and highlight any unique features that your house has.

6. Financing and insurance: A home valuation can be used to secure financing or insurance for the property.

7. Tax purposes: Getting your home valued can be helpful for tax purposes, such as determining the value of an estate for inheritance tax.

Take the first step to selling your property today by finding out how much your home is worth with Lakara Properties . In just a few clicks, with one of our local experts or use our quick online valuation tool.

If you’ve already found out the value of your house, instruct Lakara Properties to sell your home for you now, hassle-free.

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