House Valuation | Importance of Local Knowledge to Achieve your Best Price

  • 2 years ago

Hello from Keenan Auctioneers and Estate Agents Cavan and welcome to Episode One of our blogs we call ‘The Kick’.

Episode one is the first of a series of five top tips on how to avoid wasting time and money when selling your home in Cavan. Have a look at the video below after reading this blog which includes links to relevant information within our website. If you would like to follow this series on our YouTube Channel Subscribe Here and give us a thumbs up on our videos. It actually helps the other YouTube viewers find solid sound advice when it comes to their property sale, purchase, or ownership.

Getting the Right Advice When it Comes to Selling Property in Cavan

Tip No 1 of this Series

If you’re thinking about selling your home, the first thing you need to do is get someone out to have a look at the property and give you an idea of its market value. Different estate agents call it a valuation or a market appraisal, however, there is a difference. A market appraisal is about an estate agent going out and giving you a ballpark figure and talking through marketing strategies with you.

Getting a formal evaluation is something different. More work goes into it you’re charged a fee. The value is usually registered at one of the bodies here in Ireland also.

A market appraisal (that’s what you’re talking about in this article) is needed if you’re going to sell your house. For example, an estate agent would go out to your property to help you understand the current market while discussing what it is that you wish to achieve.

That would be followed by looking around the home itself. Knowing what’s going on in the local market, and then giving you an idea of the guide price. In this way, we would establish a price that we would ideally pitch the price at. So, if you are interested in selling, we would encourage you to call an estate agent or ideally ourselves and we can take it from there.

Otherwise, by taking the valuation on yourself you could run around in circles, worrying about this, that, and the other in knowing what to do. There is a lot of information freely available however tapping into the specialist local knowledge that we have, obviously makes a huge difference.

Property Market in Ireland, 2022

But before you get to any of that, you really just want to get an idea of what the local Cavan property market is doing and what the market value of your house is. This takes us to the next step. Even with all the technology in the world, real estate is still very much a local industry, a local business, needing a local agent.

Your local agent is really going to be the one who knows what’s happening. For example, looking at the most recent house price report it has the average property price of a Semi-Detached home in Cavan as €183,000, unchanged from the previous year.

Reading that you would obviously be lead to believe your house is worth in the ballpark of €183,000, but the reality is different.

For example, here in Kingscourt Cavan, three-bedroom semi-detached houses are reaching a market price of anywhere between €230,000 to €240,000 and even €250,000 for a good one. So, so you cannot get away from that local knowledge and experience on the ground plays a key role in setting the right price level.

There are good tools online. The property price register is good for getting an idea of what’s happening in the market, but at the end of the day, despite all that technology available you can’t beat contacting a local agent and chatting to them.

Influences that Affect Your Property Selling Price in Cavan

Based on that you might wonder what would determine a higher price on a property compared to maybe a property that may or may not be of a similar standard. There are lots of outside forces that affect value when it comes to the increments of 10,000 or 15,000 Euros. These are things you can’t change such as: When the property was built. Another would be the energy rating on the property in most cases.

Getting the Best price for your Home. Preparation

You can change, how it is presented, however. Having the property clutter-free. Make sure that the title is in order. Make sure that the lawn is mowed and shipshape etc. Repair any cracks that have occurred. This way you can put a house in a position where it can be presented at its best for marketing purposes. That, believe it or not, can make the difference between €10,000/€15,000 in the final asking price.

Simply put, the better it looks, the more people want to visit. In turn, the more people through the door equates to you receiving more and better bids on your home.

More to Follow Soon!

That’s a wrap for Episode One of the Keenan Auctioneers and Estate Agents vlog series The Kick. We covered our first tip within this series of five. Next week we will have Tip Number Two and that involves Choosing an Estate Agent in Cavan. There will be lots of good information in there so join us again soon.

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