How to calculate the rental or sale price of a property

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How to calculate the rental or sale price of a property You are determined to rent your house or sell your apartment , but you don't know how to calculate the sale or rent price? Vivanuncios, eBay's real estate portal in Mexico, gives you very useful advice so that you can put a purchase or rental value on your property. Do it yourself, compare prices online When you decide to sell your house on your own, that is, without the support of a real estate agent, it is best to do a comparison exercise. Enter real estate portals on the internet, such as Vivanuncios , and check the sale price (or rent) of houses or apartments that are in the same area as your property. Take into account the number of rooms it has, the services and the conditions it is in. All this will help you compare the cost of properties similar to yours and, based on that, put a figure on your house or apartment. How does a real estate consultant establish the sale price of a property? A real estate advisor is the professional who helps you in every step of the buying and selling process, hiring him offers a lot of security to the parties involved and will keep you away from real estate fraud . One of the main functions of a real estate agent is to help you estimate the market value of a house or apartment for sale. Although you can do the comparison exercise that we mentioned above yourself, it is likely that you will miss details that a real estate agent would never ignore, so that the value judgment that he will offer you will be much closer to the real value of your property in the market . Also, that estimate will not be based on an emotional point of view, which usually happens when you are judge and party. READ ALSO How does a real estate agent help you and how much does he charge? 75249 According to Ángel Valdés, president of APCI (Association of Professionals in Real Estate Marketing), a real estate agent is in charge of providing an opinion of commercial value. To do this, you must consider the location of the property and many of its specific characteristics (if it is a house or apartment, a condominium house, how many bedrooms and bathrooms it has, if it has a garage, pool, etc.). Once he has this information, he proceeds to do a market study analyzing the sale or rental prices of a certain area from various online portals. In the process, it will "reward" or "punish" the price of the house or apartment in question. For example, if the house has a nice garden, it can stand out from the other properties and raise its price a bit; but if the floors need to be changed, then that point will be subtracted and everything will have to be reflected in the commercial value suggested by the agent. That is why sometimes it is not possible to do it yourself with the same certainty as a professional in the field. Sky Marketing is a leading marketing company working on many real estate projects like smart city Lahore, park view city Islamabad and development housing societies in Pakistan. “The opinion of value that we generate as real estate is very close to the appraised value or the final sale or rental price. In fact, those three values may vary, but they are all actual values. The opinion that a real estate agent offers to a client will always be within a 10% margin in relation to those other values ”, says Ángel Valdés. Finally, he indicated that to determine the rental price of a property the same exercise is carried out, that is, a market study to know the average price in a certain area. In general, the rental price of a property can reach up to 1% of its value, although it is clear that this price will go down or up depending on the environment where it is located and its characteristics, among other factors. READ ALSO OPINION: HOW TO CHOOSE A REAL ESTATE AGENT 4108 And how does a company that specializes in real estate appraisals set the price? To know the value of your property, there are also professionals who are dedicated to property appraisal. In an interview for Vivanuncios, Jesús Ramón Orozco de la Fuente, general director of Tinsa México, explained that valuation methodologies are universal, although 3 approaches are normally used: the cost approach, the market approach and the income capitalization approach. “In the market approach, a photo is taken of what is happening in the market at that moment, in an area or radius close to the property you are valuing. There you will find a series of samples and, through a statistical method, you will find the value of that property. A homologation process is carried out in which you reward or punish your subject property and that takes you to an average homologated unit value that you then apply to the construction surface of the property that gives you the market value. With this information, it should be possible to sell in a period of 30 to 90 days ”explains Orozco de la Fuente. Finally, the income capitalization method is used to estimate the value of the property according to what you can demand to exploit it for rent. In this case, the amount you will charge as the owner must be deducted from maintenance costs and taxes. To know more details, do not miss the second part of this note: the ABC of real estate appraisals . Follow us on Facebook and Twitter to find out. In Vivanuncios there is a wide range of properties with which you can compare the sale or rental price of your property. Be sure to visit us and take a look at the Vivanuncios Blog to find out the best information and the best housing tips.

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