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Buying and selling a property is usually an activity that involves the homeowner a few times in a life time and is one of the most valuable transactions you can deal with.
People often think they can act independently, without intermediaries.
After all, property portals seem to make it easier to set a price and match supply and demand. But is it really all that simple?
In this article we discuss the 5 most common mistakes you should avoid if you want to evaluate your house correctly and leave you with a final tip to help you with this task.
What do we really need to watch out for when we want to set the selling price of our property?
We all know how emotionally demanding it is to sell one's home, rich in experience, history, personal and family ties.
Often the home represents the most economically valuable object in our lives.
This makes it difficult for us to be objective in defining an accurate property evaluation in line with the market. Relying on the external help of a professional allows you to detach yourself from this emotionally challenging situation and have an objective assessment of the real market value of your property.
It is not enough to consult the best real estate portals to be able to define the appropriate selling price of your home.
Thanks to the portals it is possible to make a 'comparative estimate', but hardly on the market will two houses be really comparable in terms of their specific characteristics. And above all remember: portals express the sales proposal, not the actual price at which the property will be sold or its valuation.
A valuation that is not in line with the market will increase the time it takes to sell and risk devaluing the property in the long run.
Often people selling their home are inclined to make an accurate comparison with the price they paid to buy it.
As we all know, markets are cyclical, and real estate is no exception: the purchase price will not always necessarily lead to a higher selling price after years.
Over the years, moreover, market demands change considerably: the characteristics of the most searched properties vary, the urban and landscape aspects of cities change (which can impact, for better or worse, on the livability and comfort of a home), not to mention the wear and tear on the property and its common areas...
All this necessarily leads to effects on the revaluation or devaluation of the property.
The starting point for correctly valuing your home is certainly the calculation of the commercial surface area and the price per square metre. The survey must be professional, with the aid of floor plans and appropriate measuring instruments, but this is not the only decisive aspect in arriving at a correct evaluation.
There are other parameters that play a fundamental role in defining the value of the property, which only a professional will know how to take into account to the right extent.
The characteristics that influence the value of a property, and impact on the price and time of sale, are indeed many and also depend on the historical moment/market trend. Think, for example, of the boom in demand for houses with gardens or large terraces, which has risen sharply since the pandemic.
Contrary to the previous point, it can happen that an independent valuation of one's own property overestimates the value of ordinary or extraordinary maintenance work carried out recently. Improvements that do not change the characteristics of the house do not add value when assessing the sale price.
Sophisticated alarm systems, mosquito nets, air conditioners or special equipment such as solar panels may be distinctive elements of the property, a strong point to win over potential customers, but they will have no impact on the final valuation. Extraordinary internal or external renovation works, on the other hand, will have to be wisely estimated to positively affect the value of the property.
The input of a consultant or real estate agency will help the seller to give each intervention its due weight.
Relying on a professional allows you to avoid the mistakes we have just seen together and get the best valuation for your property.
Your advisor will not be emotionally involved in setting a sales price, he will carry out a thorough market analysis that will allow him to assess the situation, the competition, the strengths and weaknesses of the property and ultimately define the sales positioning and pricing strategy for your home, with the aim of achieving a quick sale at the best price.
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