How to Determine the Value of Your Property Before Putting it on Sale
- It is important to be aware of the many factors that go into determining the value of your house so that you do not undersell or overprice your property
- Many property owners make the mistake of putting prices on homes without any research which makes them stay on the market for a long time
- It is important to offer a realistic appraisal of how much your house is truly worth on the market before selling
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If you have ever wondered how much your property is really worth, then this article is for you. Many landlords do not know the value of their homes or how to determine their price. Yen.com.gh has put together some factors to consider before selling your house.
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Hire or Ask a Professional
There are real estate professionals called Appraisers who determine the value of properties. They can give you expert advice and determine the true value of your home based on certain considerations.
Check For The Price of Similar Houses
The same type of house may have different prices in different areas. Check for the price of similar properties in your neighbourhood. This will give you a fair idea of the price to put on your house. You can also find out from online real estate portals such as Meqasa, Edanra or Jiji.
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Determine the Conditions of the Property
You must be realistic when pricing a home. Certain factors that may influence the price may be the age of the house and the condition in which the house is in. If major repairs need to be done by the new owner, then it will significantly affect the price of the house.
Location of the House
As stated earlier, the location of the house greatly influences its price. Houses in hot spots such as Cantonments and East Legon are usually more expensive than similar ones in other locations.
Properties in emerging areas which have shown signs of becoming city centres in the foreseeable future may also be expensive.
Talking about emerging areas, Yen.com.gh wrote about emerging areas that will soon become highly sought-after in Ghana.
The prime neighbourhoods of today are fast becoming choked and new areas are springing up to take their place. Many people have identified the potential that these new communities possess and are capitalizing on it.
Source: YEN.com.gh
