There is always one thing in common when it comes to real estate investment – the PRICE. A good and fair price has a direct impact on the buyer’s and seller’s side, considering nobody wants to be at the disadvantage. Who would, right? Yet as we all know, pricing decision can result in an important consequence. It can make or break a good deal. That means, setting the right price level matters the most.
However, just because you can afford the price, that doesn’t mean you’re getting a good offer. Investing in a property such as Alveo condominium Tayagay is not just about the purchase. There must be a smart judgment to get a fair price. But how do you really know if you are getting a fair deal on the price? Here’s how:
- Research recently sold, comparable properties
Comparing properties is not just about how similar or different they are in terms of their sizes, condition, neighborhood and their amenities. When you compare, you basically include all the aspects of the property – not just the features but also the prices. Generally, most home investors gain their interest in the comparison of prices in different properties. Is the property less expensive than larger or nicer properties? Or is the property more expensive when it’s smaller? This will give you an idea on which of the properties has a better offer than the other.
- Check out comparable properties that are currently on the market
Aside from the properties that are recently sold, you can also try visiting other homes on the market. Perhaps, there are home features that you can find on a certain property that you want to have. Also, checking such will give you a big difference when it comes to comparison in many aspects of the property. With that, you can then start comparing prices and see if that particular feature is worth the offer.
- Look at comparables that were on the market recently but didn’t sell
Just because the property didn’t sell, that doesn’t mean it is no good at all. In fact, you can have a better option when it comes to their prices. There are even properties that are on sale with an affordable price without compromising its quality. If you are interested, then you can check out the unsold inventory index for the information about the current supply and demand in the housing market.
- Consider market condition and appreciation rates in the area
Whether you realize it or not, there are sellers who tend to overprice the property. There are also for sale properties especially when it’s urgent, sellers go for an underpriced rate. If you are not keen when it comes to its price, you may not get a desirable offer. That is why it is important for you to consider the impact of interest rate. Of course, this all depends on where the market is currently situated in the real estate curve.
- Are you buying a for-sale-by-owner property?
There are actually different ways of purchasing a property. One is through the for-sale-by-owner property (FSBO). It is when selling a property without the use of real estate agents. Investing in this kind of property should be discounted since there is no seller’s agent commission. However, this is one of the things many sellers don’t take into consideration when setting their prices. There are also possibilities that sellers may not have an agent’s guidance in setting a reasonable price, which may result in a bad deal. As a home investor, you have to be keen when it comes to its price.
The price is a big factor in the investment. If you want to have a smooth sailing process, then start your search with a good deal. Check if the property is worth the investment. Moreover, never forget to be keen when it comes to having a fair price.
