How to determine property value?

As most of the times, especially for new investors who fail to consider real value of a property would deter them from making the best deal that are available in the market or making out the best return out of it. Investors who fail to consider the right factor will lead them to low investment performance which will end up limiting the wealth they could earn. Thus this is why it’s imperative for every investor to accurately determine the value of the real estate property. This article can be addressed to new or experience investors no matter it purpose is to serve as a learning guide or a reminder to oneself. Here I’ll be listing several aspects which can help you in pinpointing the exact value of your property and of course there are still many factors outside which will help you to get a good idea of the value of the property you are selling.

Comparable prices

First of all this is the most popular method that are taken up by majority investors in establishing property value. This method comprises of comparison with the recent sale prices of the similar property that you are going to sell within the same area. Bear in mind that additional facility that you have in your property such as swimming pool, garage, and so on will give you a slight increase in your property value and thus remember to add these figures up. Thus your property is readily to sell to the public once you know your property value and set up the right selling price for your property.

Location

This would be one of the important aspects running in the mind of buyer especially in deciding location of the property that will ease them with their daily routine and as an opportunity which will serve as a good investment for them now. Thus location of your property will have an effect on your property price although you may think sometimes think that why you can’t set the same selling price of your property with other properties that are comparable in size, quality and feature. For an example if your property a rural area or perhaps nearby with highway thus this will lead to lowering value of your property.

Size

Normally, the value of your property also being determine on the basis of square footage. Generally if your property having larger square feet, let assumes to be 800 square feet as compare with other property in the same area which only 750 square feet and with similar selling prices, buyer would definitely pick the one with additional footage. Thus, if your property having more spaces this would definitely put your property in a favorable position as compare with others during the selling process. Therefore remember to evaluate the square footage of your property as one of your aspects in determining the pricing value of your property.

Therefore by understanding the important aspect it will help you in determining the right value of your property.