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5 Factors That Affect The Value Of Your Property | Edmonton Real Estate Pro| Mani Bagga

Posted by Mani Bagga on Tuesday, June 14th, 2022 at 1:58am.

Going out in the real estate market to buy or sell a property is one tiring task. On top of that, if one doesn’t know the worth of their property, they might get ripped off without them knowing.

Factors affecting value of your Property- Mani Bagga

Here’s a list of questions that will help you you know the worth of your property and ask for a reasonable price while selling or get a good bargain while buying -

1. Where Is the Property Located?

The location of the property tells a lot about it. As a buyer, one would be willing to buy a place that has schools, restaurants, hospitals, well-connected roads, and other important places nearby. They would also look for a good and peaceful neighbourhood with the lowest crime rate. If your property covers some or most of these criteria, then you can expect a good deal.

2. Is It Newly Constructed Or Been There For A While?

Well, it is not so difficult to guess that newly built properties are more expensive than the older ones. This is because the new ones do not have any extra expenses or repairs and can be bought as they are. Older buildings require frequent repairs and maintenance and are not as reliable as the new ones. Due to all this, the new properties go for higher rates than the old ones.

3. Is It Well-maintained Or Not?

A well-maintained property catches the eyes of the buyer instantly. People often tend to buy homes that look and feel good, rather than those that need some work done. Everyone wants to move-in in into a fresh home and that is why one should always keep their house clean and tidy. If it is clean and tidy, you can expect a better return on your property.

4. Is It Listed With A Good Realtor?

The chances of your house getting sold as early as possible rest in the hands of a good realtor. A realtor makes money when a house is sold, so they will surely like to sell it as fast as possible and this is good for both the buyer and the seller! But an important thing to be noted is that you should always choose a realtor that you believe will sell your property at the best price possible. An active realtor, who is much more experienced and knows the market very well will always get you deals that you can’t resist. Everything’s just about the exposure - And a good realtor knows how to work it out!

5. Is The Real Estate In Your Neighbourhood Meeting The Needed Supply With The Demand?

No, this is not about economics. The Demand And Supply surely fluctuate the prices now and then. If let’s say, Edmonton has a high demand for real estate but has a low supply, then the property rates will automatically rise. These rates can also rise and fall during the boom and recession periods respectively. Having good knowledge of this demand-supply chain can yield better results.

 



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