The place to find the right home
The place to find the right home
The place to find the right home
SERVICES
Valuations
Learn more about our Valuation Services
The process of estimating the value of property is known as valuation. There are numerous methods of assessing the value of a property. Valuation gives useful insight to both buyers and sellers on how to estimate the approximate worth of a house.
Factors that influence home value
You must price your home right for the market you are selling in. And because estate agents work with property and identify the local market, they are often the best resource to assist you in establishing the actual market value of your home.
To attractively price your home right, you naturally have to understand how home values are accurately calculated and what elements play a role. Here are four key factors you cannot ignore
Location of your home
Your home might be beautiful, but if in the wrong area, there might be issues trying to agree on a fair market value.
The location of your property can be more important than even the size of your home. Always remember what drew you to your area when you bought it.
Questions that are important to buyers:
- Is there a good infrastructure?
- How far is your property from schools, shops and places of work?
- Are there any entertainment facilities in the area?
- Can you easily access highway or public transport pickup points?
- How secure is the area? Is there any threats close by?
Time of the year
Sales volumes various throughout the year, called Seanonality.
Natural elements, like the weather or dull winter days, school terms, fixed holiday, and many more factors cause buyers and seller fluctuation.
More serious buyers will brave the winter weather to find their dream home and you might have fewer properties to compete with.
Seasonal changes also get people more eager to make changes and in summer there is definitely an increase in potential buyers.
Market conditions
Our properties might be the biggest investment we have made and the economic environment reflects directly on the property market. Therefore we need to assess the market first. The difference comes in when there are a lot of properties versus less properties on the market at the time we want to sell our property.
It all boils down to supply and demand and how the price will be affected. When there are many properties available, buyers can pick and choose and it is called a buyer’s market.
The most favourable market to sell in is a seller’s market where homes sell quickly and for a higher price.
Competition
The true market value of any property is determined by what a buyer is willing to offer. If your home is listed at a competitive price, the interest may result in you receiving more than your listing price.
Most buyers look at properties that are within a price range they can afford and qualify for and therefore your property needs to be priced at a competitive level that is competitive with similar properties in the market.
Never underestimate buyers as they perform a more thorough comparison of property value in a neighbourhood than sellers. If your property is uncompetitive within the area, the buyer will ignore your property. But on the other hand, if the property is priced correctly, you will find more interested buyers, which can result in a higher price for you to sell at.
Additional factors to consider when pricing a house for sale
Considering a sole mandate can help a seller obtain the highest possible sale price.
This encourages buyers to compete against each other and not agents. if an agent has the seller’s best interest in mind they will also get the best possible price for the seller.
Conclusion
To conclude, the biggest concern when selling your home will be to find out how much your property is worth, especially in a buyer’s market where you require to price your property correctly.
If you require the most significant boost for your home’s sale, start with the price tag. You will find that buyers shop in their price range so your property needs to be in that area’s best price range.
Property Valuation can be a complex process but Eazy Homes offer this service because we identify the market and want to ensure you obtain the real market value of your home.
Speak with licensed property valuers and get a valuation for your property today. Let us leave you in the right hands.
FIND
Featured Agents
Get in touch with our real estate experts.
