Home valuations

When selling your property, you want to receive the maximum price and the best possible terms. Just because you paid one figure for the house, doesn’t necessarily mean that this is what the property is worth now, just as the cost of a rebuild or cost of other properties in the neighbourhood doesn’t mean you will obtain the price or deal you want.

The current real estate climate influences the property’s worth and if the market is poor, then the market will not support overpriced properties. The price of other similar properties around you is one of the most meaningful factors when deciding how much your property is worth. The fewer similar properties for sale around your neighbourhood, the less competition you have. The price of a property for tax purposes is often very different than the sale price, which many sellers do not realize.

The saleability factor of a property

Using a professional property inspector is a good idea if your property has potential problems, you have completed any large scale upgrades or if it is older than the average home. What the inspector will often do, is have a good look at your plumbing, electrics, HVAC, insulation, appliances, windows among other things; this is all part of the price charged. The purpose is to discover pests, air/vapour/thermal/rain leaks, and the like. The inspector will usually encourage you to be present at the inspection from start to finish and will clarify any defects seen in the home, offer you maintenance and repair tips, and answer any questions that may arise during the course of the inspection.

Market Analysis

As the name says, this tool compromises of a detailed comparison of your home to other similar homes in your district to arrive at a reasonable asking price. It’s best produced by a real estate professional with a lot of experience selling Calgary real estate and access to the most up to date, accurate reporting information and data on Calgary property sales. If you’re already concerned about how your house will measure up to the neighbours’, don’t be: what you know about your home is often better than what you don’t know about it! The drawback of the Comparative Market Analysis tool is that it doesn’t take months for it to be out of date. If yours was completed more than 3 months ago, it’s time to take another look; when it comes to market conditions, what’s happening now is all that matters.

Bookmark to: