Working out what a home is worth to sell or buy has been the question of all ages when it comes to real estate. Sellers want to achieve the highest price possible and buyers want to purchase the property for the lowest price possible, so how do you find the balance. When choosing to sell or buy a home completely ignore what you hear about ‘the market’, whatever it’s doing you are, typically, selling and buying in the same market. So how do you work it out? There are pricing websites like RP DATA, apps, neighbours, friends and family and agents. And getting all these opinions will only confuse you more.
Think of it like baking a cake, you could have the same 4 ingredients, but depending on how much you have of each ingredient and in what order you mix those ingredients it will determine the outcome of the cake. It’s either going to be the world’s best cake or a rock cake. Now relate that back to property, you have features, ie; bed bath car, land size, position, location, orientation, number of neighbours, condition, maintenance, style, colours. You can have all the elements, in varying amounts and in various order and you will have completely different homes worth completely different amounts of money.
If you are selling a home, you’ve probably paid more attention to similar homes around you that have sold than any agent you interview. Make sure you choose your agent based on strategy and marketing and not on the price they tell you. From day one the strategy the agent is employing will be designed to achieve for you the highest possible price the market will pay. Choosing an agent based solely on the price they tell you will almost always ensure that from day one that agent’s strategy will be on how to get your price expectations, they set, down. Always choose marketing and strategy over price.
If you are buying a home, you will get to see more comparable homes that suits your needs that any agent you look to purchase off. Look for a property that meets your needs, will provide you with the lifestyle you seek and pay what you think is a fair price. When you do find that one home that suits all your needs it’s ok to be tough on negotiations, but stubbornness usually sees people miss out on good homes for a reasonable small amount of money. If you’d like to have a chat about the doo’s and don’t of selling or buying a home, feel free to give me a call anytime on 0414 344 442.
Belle Property Narellan | 4647 7533