If yes, then you definitely need to read this piece.
Whether you are letting your property or selling it, you will have to opt for a valuation of some form or the other to fix the exact price. Sooner or later, you will have to arrange for someone to do it for you and enquire – ‘how much is my property worth?’
Here Are Some Generic Rules To Follow:
Okay, these are not really the rules, rather the requirements. To understand how local competitor properties are being marketed and at what price, you need to have access to the following three vitals:
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Data Of The Sold Or Rented House Prices
The price of your property need not be what you think it is. Rather, at most times, it is what the buyer or tenant thinks it is. This is why you need to compare your desired price with those of the recently sold houses. This will help you set realistic price goals and win the trust of a potential buyer or tenant.
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Recent Market Trends
You need to keep a tab on what’s up in the property market, especially of the locality. This is somewhat similar to knowing the sold price data of properties. Check out which type of property is trending and if at all yours can meet the expectations.
Did you know, even the number of bedrooms can affect valuations? Higher need not always be better. The strength of the local property market might keep varying from time to time.
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A Good Estate Agent
If you are letting, he better be a letting agent, and if you are selling, a selling agent. Either way, this professional is going to introduce you to the process of property transaction – what clicks and what doesn’t.
Sometimes, the value of your property doesn’t depend on the state of the market or its type, or even its similarity to competitor properties. Instead, it largely relies on how the estate agent chooses to market the same and negotiate its price. So, whenever you’re confused, keep calm and pick a good property agent.
Surprise! Valuation Also Depends On These 10 Factors
- Type and size of property.
- Age of the property.
- Features and fixtures
- State of repair.
- Available accommodation.
- Location, position, and surroundings.
- Time on the market.
- The way of assessing – comparable sales, income method, or cost approach.
- Compatibility with building rules and regulations.
- Association with any stigma, whether criminal, debt, public, or phenomena.
‘How Should I Value My Apartment in Bath?’ – Still Wondering?
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Let’s Check What’s Trending In The Market
Before you jump to any conclusion for your ‘how should I value my apartment in Bath‘ dilemma, here’s something you need to know about the present-day property market scenario.
The average price of properties in the city is currently £406,279. This is somewhat similar to that in Combe Down. At present, flats are the most preferred of all properties, selling for an average price of £307,854. Terraced properties are preferred next, but are a little costlier than flats.
They would fetch you around £423,277 on an average. So, you are on a vantage point regarding your apartment. Semi-detached properties are also popular, selling for an average of £396,838. You’d be surprised to know that prices have increased by 10% since 2014 and 17% since 2013.
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Want Some Data For The Prices Of Recently Sold Properties?
Here’s a slideshow depicting what’s selling where and at what price. Check out and compare your property.
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Hunting For Reliable Estate Agents To Value Your Apartment?
Let your search end here. Receive the most accurate valuation report for your apartment in Bath delivered by local property specialists. Click here for the privilege.
Wish you a happy home!
The Apartment Company 