It is important to purchasers that they pay the right price for property, in much the same way as it is in the vendor’s interest to get the highest price for the same place.
Emotional purchases can often fetch a higher price, especially in the heat of the moment bidding.
We have researched three easy tips to ensure your next purchase is at the right price:
- Don’t rush it if you can help it. Check listed prices, attend open for inspections and compare to final sales prices for three month period. It is sometimes easy to scribble these details onto the sales brochure and file them away in a folder.
- If you don’t have time, you can do an automated valuation (AVM) on the property you are interested in, or pay to get a licensed valuer to do one through a company like RP data. You can also get a listing of recent sales in the area.
- Remember to compare apples with apples. Two properties may have the same number of bedrooms, but look at other features like number of bathrooms, land size, off-street parking and other features such as swimming pools, proximity to suburban amenities etc.
Hopefully with this knowledge up your sleeve, you can go in and negotiate the right price like a professional and come away feeling like you did your homework and got the place for the right price!