What is your property’s value?

This question is fundamental when you are interested in selling a property. It is of vital importance so as not to delay your goal. Calculating the for-real value of a property is a task that you have to put in the hands of professionals because they will be objective in the valuation and also because this is fundamental to selling it. Hence we insist on the relevance of putting a property up for sale with the actual market value and achieving the sale within the standard terms.

To find out how to correctly value your home and what steps to follow, read our article until the end.

Why is it important to do a precise property valuation?

One of the keys to successfully selling a property is the time spent on it. According to statistics, a property with an accurate market price should not take more than six months to find its new owners.

On the other hand, the wrong valuation of a property can keep it on the market for a significantly longer time before finally having to reduce the price and adjust it to the real one.

When you enter the real estate market as a seller, you’re bound to come across several homes selling for a high price but don’t meet the criteria necessary to be at that price. That can create confusion when deciding on a sale price.

To determine the cost of your property, you should not look at the sellers’ offers in the immediate vicinity, but to know how much is the square meter of the area. You can obtain that information according to the sales in the last six months. It’s a good idea to track property prices in your area over time to see how economic changes affect prices.

Sellers often offer their property without first consulting with an expert. Many give a high price to allow room for negotiation with potential clients. For this, also, it is essential to have a real estate professional.

How much is your house worth?

The best and most accurate way to find out how much your property is worth is through the assistance of a professional in the field. If, on the contrary, you decide to sell on your own, there are suitable tools that can guide you through the process.

The most important thing is to examine and get to know the real estate market in depth. What is the current market state? What are the specialists’ prognoses for the near future? It is good to keep in mind that prices have their natural limit, which is determined by the situation of the mortgage market and interest rates at that time. Not only that: factors such as profitability also affect the precise value of a property.

What determines the value of your property?

Three fundamental aspects determine the price of a property:

1. Location.

2. Services in the area where the property.

3. Built square meters and common areas.

It is an indisputable fact that the primary influence on the price of a property is its location. And so are the amenities and services offered by the environment. The presence of public transport, which allows quick and comfortable access to different points of interest in the city, the green areas, and the presence of schools, nurseries, hospitals, shops and supermarkets determine the economic development of the place and attract buyers.

Square meter

The square meters of the property will determine the average price per square meter and is essential for any buyer.

The number of rooms is also a key element for people and therefore has direct importance in determining the price.

Type of construction

The type of construction is a relevant element when determining the price of a property, mainly due to the prevailing demand. Today, for example, the main interest of buyers is housing in newly built properties due to the higher quality of modern construction and its most up-to-date architectural appearance and functionality.

Energy-saving regulations are essential. New construction is required to do so.

Orientation and common areas

The orientation of an estate is also a significant factor. The more natural light the rooms in the property have, the more attractive it will be to potential buyers.

The state of the common areas of the building may also have a slight influence on the price. In general, a community garden and pool add up positively.

Parking and storage

An increasingly important criterion for homebuyers is the availability of a parking space. If you have one or more parking spaces, it can influence the final price of the house. A storage place or a storage room will also increase the value of your property.

Consult professionals

Doing some preliminary research on the real estate market will help you determine the value of your property. Keep in mind that the real estate market is very dynamic and requires constant monitoring by the seller. 

To determine the sale price of your property, the best procedure to follow is to consult professionals who will also take care of finding potential buyers and advising you at all times.

Fortuny Hogares Únicos commercial advisors qualify as Expert Appraisals. If you need help valuing your home, do not hesitate to contact us. We will be delighted to assist you!

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