North Myrtle Beach and Grand Strand Real Estate Professionals  

 
 

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How does a Purchaser Determine Value?

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glossary

 

How Does a Purchaser Determine Value?

Value is determined by the price of the property - in relationship to the features of the property - compared to other properties sold and listed for sale that are similar to yours.

For example, if you were going to purchase a new car, one dealership has the car you want priced at $20,000. The next day, you saw the same car at another dealership also priced at $20,000, but it is the upgraded version, with leather seats, special wheels and a great stereo system.

Which car is more valuable? The upgraded verson - of course. It is the product with better features, for the same price. Now, what if the first dealership lowered their price to &15,000? Which car is now a better value? Less features with a much lower price.

So, to increase value, either (A) lower the price, or (B) have more features for the same cost as other properties without those features. This is how we establish value in real estate.

Unless you are planning to add more features and benefits to your property, price is the only issue that will determine the value of your property.

 

 

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