When it comes to selling an old house and building a new one, as you know, there are so many things to consider. After all, this complex task is worth a lot of money, and you want to be certain that you won’t lose any.
In this article, we are going to break down this entire process and tell you about some important aspects that you have to think about. You will learn how to estimate the value of your property i.e. how much money can you get for your house, but also some things that you should know about building a new one.
How to calculate the value of the property?
Okay, let’s start at the beginning. If you have a large family, and your current home has become too tight for all of you, the logical step is to find a bigger one and move. However, the very first thing that you have to do is to sell the house you are currently living in.
When it comes to finding out the value, there are a few ways you can do this. Firstly, if you know nothing about this process, you should definitely hire someone like assetadvisory, to do the calculation for you. All you have to do is to provide them with information about the property and they will do everything else.
Secondly, you can try to do it via online tools. You would be surprised to learn how many of these are available, and also how frequently they are used. If you opt for this, you have to do a little bit of research on your own. You have to acquire public records documents such as tax requirements and property transfers.
What are the things that affect the value?
Do not forget to check the market value. As you know the location of your property influences the price greatly. You would not be able to get the same about of money for a home that is in some rural, secluded area as you would for one that is located near the center of the city.
Other things that affect the value are the vicinity of schools, hospitals and other public institutions, and even malls and grocery stores. Just think about, when one looks for a new home they want to ensure that their kids won’t be far away from the school they go to.
Furthermore, before you enlist the house, our advice is to renovate it a little bit in order to increase its value. Simple things like painting the walls in some neutral color and fixing small things around like loose boards or doorknobs can go a long way.
Why is this important?
We have reached the big question – Why do you have to estimate the value? Well, first of all, you will know how much money you can get for it. This is not only going to allow you to start planning future investments, but this is the only way for you to be certain that you are going to get a fair price.
Moreover, you are going to attract more potential buyers. People are not going to waste their time looking at houses that are not fairly priced. No one is going to give you extra money just because you think they should. By presenting them with a reasonable price, you are increasing the chances of actually making the sale.
In addition, this is going to allow you to conclude the entire process faster. This is especially important if you have already found your new house, and you have to put down the payment on it. Even if this is not the case, we are sure that no one wants to prologue it if it isn’t absolutely necessary.
Things to consider when building a house
Okay, so we have discussed some major aspects of selling a home and assumed that you want to buy a new one. Still, let’s now mention some things if you are thinking about building a house from scratch.
If you cannot find anything that suits all your family’s needs and you can afford to, the best thing that you can do is to build a new home. Yes, this is as complicated as it sounds, so let’s discuss some major details.
Where to start?
Let’s suppose that you already own a property, clearly, the very first thing that you have to do is to draw up the plan of your future house.
Clearly, you have to think about the number of rooms and bathrooms you need, the size of the kitchen and other common areas, whether or not you want a garage or something else in your backyard, and so on. However, in order to make a complete plan, you are going to have to hire a professional, of course, if you are not one yourself.
They are going to help you design everything that you have envisioned. Drawing the basic layout of the house is easy, but thinking about every detail requires a lot of time and effort. Plus, they are probably going to suggest to you some ideas that you had no idea were even an option.
Consider the expenses
Once you have planned everything and know exactly what you want and how you can make it, it is time to calculate how much money you are going to need. Again, this is something that you can try to do on your own, but our recommendation is to turn to quantity surveyors.
Basically, the main job of these people is to manage all the costs that come up while building a home. The biggest benefit of hiring them is that they are going to ensure that you do not go over the budget. They are going to help you to stay focused on all the expenses and save you a lot of money this way.
Find a contractor
Another crucial person that you need is a contractor. Yes, you should consider their fee, but you shouldn’t make a decision based on it. Make sure to inquire how they conduct the business, tools, and equipment they use, don’t forget to read the comments of other clients, and maybe even contact them too.
Design the interior
Once the construction has started, it is time for the fun part of the process – decorating. Yes, you will have to oversee everything, but unless you really want to be included, you won’t have to do any actual work. This means that you can start by designing the style of each room, choosing furniture, appliances, decorations, and so on.
All in all, in this article, we have tried to make a list of some of the most important parts of both processes. As you can see, it is something that requires a lot of your time, effort, and attention, but if you make a plan and do one thing at a time, everything is going to run as smooth as possible.