Price your property right. The value of a property is decided by various factors, including the cost of similar properties in the same location, the view of the apartment, the available amenities in the building and the overall market trends in terms of appreciation and depreciation.
Selling a property is art which can be perfected if one follows certain guidelines. Forum often gets queries from consumers such as ‘How do I calculate the right price for my house?’ or ‘How can I make my house more valuable so that I can get the best price for it?’ or ‘How can I increase the value of my house?’ Here are some ways to achieve the right value.
Price History: Identify houses which have been sold recently in your area and try to read the market trends in terms of pricing. Property portals today, offer online tools which calculate the worth of your house online. It is also good to do some research on houses that resemble your property. It will help you know the market well and assess the real value of your own house.
Negotiation: While developers can afford to give discounts and lure buyers, you as an investor may not be in a position to give a heavy cut. However, do keep in mind that a potential customer will always try to negotiate. How much of a cut is fine and how much is unworthy of pursuing should be your call.
Quoting the right price: Selling prices depend a lot on the amenities and facilities available for a prospective buyer. Apart from the location and infrastructure, buyers look at what are the conveniences they can get- is the house maintained over the years, what is the condition of the building, what do others have to say about the project, is there constant water, power supply etc. Keep the pricing rational and not too high as overpriced houses take time to sell or sometimes don’t sell.
It is also recommended to talk to neighbors and ask for the prevailing rates. You could also get the property evaluated by 2-3 brokers to get a realistic quote. Happy Selling!
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