When the idea of selling a house starts to peep into your mind, and you start talking about it in the family, one of the first questions that arise is related to the value and price. How much will I get from the sale? How do I get the most out of it?
The price at which to propose the property is a fact that must be perfectly positioned on the market to obtain interest and bring potential buyers to your door. An incorrect price is like an own goal, you will not have contacts, and you will be forced to review it several times with serious prejudice on the sales activity.
5 IMPORTANT TIPS TO HELP YOU DEFINE THE RIGHT HOUSE PRICE
- The value is influenced by the market: analyze the other offers
To make the valuation of your home, you will need to take into account market data to establish the correct price. You will also have to consider the attractive characteristics and negative factors of your home, context, and neighborhood, of those elements that differentiate your property from others in competition with yours.
Yes, because you have competitors in the sale of your home!
Browsing a bit on the various real estate portals, you will notice that at the moment, there are houses for sale similar to yours in terms of area, context, and size: they are identical houses which, together with yours, will look at and analyze every potential buyer! Are there other homes like yours for sale in your area? Have you seen the ads? What do you think of the price they require? Did you compare those houses to yours? In which characteristics is yours more palatable? In which is it less so?
This survey is not easy, but you have to do it because your property must be able to pass a “competitive selection,” it must be noticed, it must be chosen, it must have the right price!
- Do you know your home and neighborhood?
To calculate the right price, you need to know your home, the context, and the neighborhood in depth. You must know those data that have some relationship with the price: the factors that determine it influence it and refine it.
- what is the commercial square footage of your home? And accessories such as balconies, cellar, garage?
- what is the energy class of your home?
- how much are the annual condominium management expenses?
- Are there any extraordinary works in the pipeline? Do you already know the cost?
- Have similar properties been sold in your context? Do you know the price?
- Is your neighborhood reevaluating? What services are there such as schools, shops, sports centers, parks, or green areas?
- Our connections with important urban centers facilitated by convenient road connections, by the presence of a railway station or other public transport?
Are you able to recover all this information? Then continue reading!
Otherwise, contact one of our consultants.
- Try online price calculators to find your way around
We recommend trying a price calculator of those integrated into real estate portals. The portals use the sale prices of properties similar to yours (uploaded by other users) and the average market data to predict the value of your home roughly.
Enter the address of your home and some features that will be requested such as square footage, floor, accessories, energy class, and you will get a maximum indication of the value with a minimum price, a total price, and an estimated cost (which represents an average between two previous).
Do you think this value is the correct one? You have to consider the online price calculators only as an indicative reference!
The main reason is that they cannot read the nuances of the market like a real estate agent who deals with the territory every day. Secondly, you have to keep in mind that they are based on data you have entered, which may not be correct—100% (especially for the sizes).
Furthermore, the algorithm has the prices of the properties loaded on the portal as its basis. Therefore, the result considers only the “requested” prices and not the actual sales prices that may have undergone reductions during the negotiation: the advertised price is rarely the selling price.
Finally, each portal uses different algorithms that lead to values that are sometimes considerably distant from each other. Which will be the correct one?
Do you feel like choosing one and giving that price to your property?
Therefore consider them a simple starting point for an orientation on the price range in which you are placing yourself.
- Don’t be guided by emotions
Many sellers think that their home is worth more than others in the same category, more than the identical one of its neighbor, more even if it is in the suburbs. Because? Because there are memories. Because there is feeling. Because there is pride.
But it would help if you remain objective when setting the price for your home. After all, buyers won’t know the history of your home, and what makes it unique to you may be something that doesn’t appeal to them.
As much as possible, put aside the emotional attachment to your home; it will be easier and simpler to come to define a number.
- Have your partner do an analysis as well and compare the results
Does anyone else decide with you? Talk to your partner about the value of your home. You could do a market analysis on your own and compare yourself before concluding. It is a fundamental process because, in the sale of the house, you will have to adopt a shared line to define the sale price and then with the bidder to complete the negotiation.
Are you satisfied with the value you have obtained or are your ideas even more confused?
Did you understand that real estate valuation is not easy?
ASK FOR A CONSULTATION FROM A Our REAL ESTATE AGENT
The number you find at the end of each house for sale ad must be the result of an analysis of many factors that come to define a VALUE and, therefore, a price. What Our Network uses is a scientific method that starts from the analytical aspects (a commercial measurement that attributes the correct incidences to habitable rooms, non-habitable ones, and accessories), followed by a technical evaluation (which considers the aspects of the investment long-term) and concludes with a comparative verification (similar properties at what price were sold in the area? Which similar properties are offered for sale at the moment?).
Our network has always believed that determining the correct value is crucial, even fundamental, for promoting a home.