WHAT REALLY DETERMINES THE PRICE OF YOUR HOME?
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Hi everyone, today I want to talk to you about what really determines the price of your home when you sell.
If you ask most people the question you will get answers like how many bedrooms and bathrooms it has, how big the house and section are, what condition it is in or any number of physical attributes. These are all important but on their own they don’t determine a property’s value.
Buying a home is a very emotive process for most people; it could be your first home, a bigger home because the family is growing or a smaller one because they have left home, or any number of reasons that have emotion involved. It makes sense then that emotion is a big factor whether selling or buying.
All buyers are different. Investors for example are mainly concerned with the return they can achieve and emotion doesn’t really come into their thinking. Not surprisingly therefore they often submit low offers.
At the other end of the scale buyers who have missed out on several other properties and who are running out of time before they have to move out of the place they have just sold are driven hugely by emotion and will often pay a premium just to get settled.
Our role as agents is to help owners maximise any features that are likely to create emotion when buyers inspect such as presenting a garden as a safe and wonderful place for children to play or parents to relax.
Experience tells us that every buyer has a different perception or point of view and that determines how much they want (and will pay for) a property. Our job is to help you as an owner showcase your home to attract the right sort of buyers and then to help them visualise living there. Once they can see themselves there then we can work with them to see what living there is worth to them, and the more they want it the more likely they will pay a premium price for it.
So EMOTION is what really determines a home’s value. Sure – everything else is important but ultimately we are dealing with the buyers’ emotion.
So if you are thinking of a move why not give us a call and let’s see how we can help you create the reasons for buyers to get emotive about your home.
