Its tough to be objective while pricing your own property. Its a process that brings in its own levels of stress, and has huge financial implications. Under-price your property, and you could lose lacs. Over-price your property, and you turn away buyers. Repeat the unsuccessful selling process every few months or years, and the market doesnt treat you seriously or remembers your mistakes.
Calculating the selling price based on the purchase price, subsequent investments, and perhaps interest costs are easily the first steps taken by sellers when deciding the selling price. However, buyers are not interested in the historic price – just the way you were not interested in say the price at which your builder purchased land or overpaid for cement.
The best way to start is by evaluating the selling price (not quoted price) of comparable properties. The tried and tested benchmark is a per square metre or per square foot rate. The rate would increase or decrease for your property depending on its location, amenities, quality of material, condition of property, view, etc. etc. For a commercial property, curb appeal, nearby brands and road frontage would have to be compared. For land, an important factor in addition to the above will be FSI.
Its best to hire a qualified professional real estate agency to sell your home or land. PropertyInIndia.co.in is a professional real estate agency having offices in multiple cities in India. With our professional team in Goa, we are uniquely positioned to bring in an all-India perspective and local knowledge with a range of services much more than a neighbourhood broker.
Contact us now to start selling your property.
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