What’s my house worth?

Jonathan Thompson, Real Estate Issues
This is the first question that a seller wants answered. The best way to determine a property’s value is to compare it with similar properties that have sold in similar areas.

Since most people are only selling one property, how are they supposed to compare it to other property sales? The simplest way is to speak to a local estate agency.

The most common mistakes made when trying to determine a property’s value are; many people try to compare the price that they heard that a friend or neighbour received. Often, for their own reasons, people are not completely honest about the purchase price that they received.

People often compare similar properties, which are located in different areas. In Bulawayo, two houses that are exactly the same will not necessarily have the same value if the suburb they are in differs.

Sellers will try to use information from properties in different countries and even from other continents to determine their property’s value.

Home owners will often over value or under value unique features of their home.

Well maintained properties will generally bring a better purchase price. A home that is appealing to a larger audience will not always be worth more money, but the wider appeal makes a sale more likely.

General trends in the local economy will affect house values. Neat, uncluttered homes are easier to sell than messy ones. Purchasers will be attracted to homes with neat gardens.

Speak to a registered local estate agent and get the best valuation for your property done.

Jonathan Thompson is a registered real estate agent who works in Bulawayo.

He has nine years of experience in Real Estate in the USA, and another 10 years’ experience in Bulawayo.  He is the founder and the Managing Director of Thompson Properties (Pvt) Ltd.