Know the real value of your property
Category News
It is always wise to observe the housing market and its sales trends in your area to make sure that your asset will yield a good return. We know that to make a return it is a good idea to buy in the right area at the right price. However, if you are looking to make the change, it is important to know your home's value in the current market
Price is a science - investigate & compare
Be realistic - pricing too high will keep buyers away and your property may sit on the market for a long time; pricing too low means you may lose out and sell below value. A good real estate agent will provide sellers with an estimated market value of their home. They will base their findings on recent sales of similar properties, as well as the supply and demand, in the area. Agents have access to advanced industry related tools to assist them with this process such as Lightstone, a comprehensive property information reporting tool.
Investigate the properties that have recently sold in your neighbourhood and area. Compare them to yours for similarities in size and condition and take note of their selling price.
Determine the market value & economic climate
The market value is how much a home will sell for under normal conditions. But, the true market value is what a buyer is actually willing to pay for a property in the current market.
Many factors influence the market value such as the political and economic situation in the country, the Covid-19 pandemic, the location, area and nearby suburbs, size, layout and the general condition of your property and surrounding neighbourhood.
For an accurate assessment of the market value of your home, rather get an experienced real estate agent to evaluate your property.
To contact one of our Real Estate Agents, follow the link: https://www.homesofdistinction.co.za/agents/
Updating your insurance
Updating your insurance will keep you apprised of the value of your property.
Keep your property insured at the full value it would cost to be replaced - especially if there have been any renovations or home improvements.
It's best to ask a home builder to calculate how much it would cost to clear your site and design and build your home from scratch - to determine replacement costs at today's prices.
Then adjust your policy immediately, if necessary, and always remember to notify your insurer when any renovations or home improvements have been done or increased the value of your home.
Get a professional valuation
As the housing market changes daily, it's always best to consult a professional estate agent who will conduct a Comparative Market Analysis (CMA) to provide an estimated market value of your home.
This valuation will be based on statistics and facts and will include the strength of the local market, the supply and demand in the area and the recent sales of other similar properties in the area - information that only an experienced, professional real estate agent will be able to source.
A good, knowledgeable real estate agent will know general and area-specific property market trends, what is selling and what is not, who the buyers and their price ranges are and what is planned for the area in the near future. It is their business to know these things!
For a professional property valuation, contact one of our Real Estate Agents: https://www.homesofdistinction.co.za/agents/
WIN! WIN! WIN!
Enter our Competition and Don't Miss Out!
You can WIN from NOW until 15 December 2020.
If you would like to WIN a voucher, valued at R3000 then book an obligation free professional valuation of your home with one of our agents and you will be entered into the draw.
Click here to find an agent: https://www.homesofdistinction.co.za/agents/
Contact us: info@homesofdistinction.co.za
Please note:
T's & C's Apply
You can only qualify if you live in one of our areas.
The promotion will run from NOW until the 15th of December 2020.
Always be informed of the value of your home. It's your biggest investment! And keep your insurance updated accordingly.
For a professional property valuation by a reputable, experienced real estate agent, contact us on: https://www.homesofdistinction.co.za/ or to contact one of our Real Estate Agents, follow the link: https://www.homesofdistinction.co.za/agents/
Author: LV Digital
