Incorrectly pricing your property for the current market could provide fatal. List it too high and you will put off potential buyers, and the property could end up sitting on the market for some time. An inflated listing price will also make comparable homes appear to be bargains – so this could mean that you are helping to sell your neighbours’ home instead of your own! Whereas if you advertise your property price too low you could end up out of pocket, selling for less than it is worth.
While there are valuation tools available to sellers online, to set the right market-related value requires specific area knowledge, an understanding of the conditions surrounding the market and insight into the mind of applicants.
Some of the key things to consider include:
- Type of property – is it flat or a house? Is it a detached property? How many bedrooms and public rooms? Does it have off-street parking and a garden?
- Market trends – elements such as government policies, access to finance and unemployment impact the property market throughout the country
- Neighbourhood – is the area developing? What are the local schools and amenities like? What do other houses sell for in this street / area? How long are they on the market for?
- Property inspection – how old is the building? Is the property walk-in condition or a renovation project?
McQueen Legal has over 35 years experience in the housing industry and know the Edinburgh marketplace inside and out. Don’t take the chance and value your property wrongly – speak to the experts who will guide you through the process and ensure your property is valued correctly.