![]() If you’re the seller, you should not assume that the property price will end up being the same as your perceived selling value. The state of the marketĭetermining the market value of the home is just one step in the negotiation. Location is the biggest factor in determining property prices, with the views, nearby attractions and the relative safety of the area all playing a role.Įxperts will look at the price at which other similar-sized homes in the neighbourhood have been sold for, (as well as the price at which the property in question was last sold for). The primary factors that professionals use to value a home include: 1. There is a process involved, and being knowledgeable of it means you don’t have to “guess” the value of the property based on superficial elements The factors that play a role in property valuation As such, it helps to know what factors play a role in property valuation. Whether you are looking to buy or sell, knowing the value of a property is an important step in the negotiation process. Market forces play a substantial role in determining property value and the final selling price for example, a buyers’ market may force you to sell a property at below the estimated market value. ![]() The advice of estate agents is invaluable in determining a property’s estimated market value, and what its price tag should be.The main factors in determining the value of a property are the selling price of other properties in the area, and the price at which the property in question was previously sold for.
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