fbpx

How to know if you’re getting a fair deal on your Real Estate property.

How to know if you're getting a fair deal on your Real Estate property.

Buying a Home requires a good chunk of your savings if not all your savings. Every person wishes to have their own home in their lifetime. You have decided to buy a home in 2022. When you are buying a home, you are looking at many houses of varying prices. After all, homeowners want to make sure they buy a home at a fair price. You want to make sure you get a good deal.

But…

How to know you can be sure you are getting a good price for real property?

Recently Sold Properties

Gave a look at the price of the recently sold comparable properties. A comparable property would be one of similar size, condition, location, and facilities. By looking at the sold properties, you gain valuable insight into the pricing of the house.  Find out answers to your queries such as ‘Are the recent sales were on same, less or more price?’

You should check the price of several sold properties to compare it with a house you are interested in buying.

Comparison

You must visit other houses that are on the market. You must compare the listing of multiple properties of the same square feet, rooms, conditions, and amenities. Compare it with the house you are interested in purchasing. By doing that, you get to know if the owner is charging higher than others then why is it so.

Duration

If you are considering a house, compare it with a comparable house that has been on the market for quite some time. The chances are if the property has the same or is more priced than a comparable house. It is overpriced. You must gear up for a negotiation game.

Market conditions

Take notice of market trends. Find out if the prices have gone up or down lately? If prices have increased, at what rate the similar properties have gone up.

Potential

Check out if the location where the house is built has potential. The future plans for the area can also impact the prices. If the area is being developed, such as a new mall, new companies are coming up in the area. The prospect for house appreciation in that area looks good.

Rental

In the case of a house, you can force appreciation by renovating and giving it as a rental. If new jobs prospects and colleges are coming up or are nearby. The probability of renting it out to students and relocated professionals is high.

 

Vision India is a RERA-approved developer in the Kharar area. Check out all our projects with various styles of houses such as apartments, duplexes, independent houses, penthouses even commercial properties are available. Contact today to know more.

 

 

 

 

Leave a comment

Your email address will not be published.