Assessing the Correct Value

Price is extremely important.  Of course what most of us tout is location, location, location. It is important to understand how price and location fit together. When it comes to selling, the importance of pricing your home in Burlington is superior to everything else. A simple illustration is to picture a home for sale in the best location you can imagine in Burlington or Oakville. Then put a price on it that is too high by market comparison. The result will be that the home may be admired by many but no offers will come since the price is attracting the wrong crowd. To further illustrate, take a less popular location and market-price it, the buyers will be lined up with offers. The location in Burlington, Ontario factors in to correct pricing the way other important features do when assessing the likely sale price of a home. Correct pricing then, when it comes to selling, plays the leading role followed by strategic marketing and negotiating in order to obtain optimum value.

Location is paramount on the other hand when assessing where the highest rate of appreciation might be expected over a period of time. The neighbourhood proximity to schools and shopping means your home will be more in demand on the part of buyers and generally produce a higher increase in value and of course a quicker sale when that time comes.

When buying, there is a trade-off for location. A home for sale on a main street for example will usually have more features for the price, than the same home on the nearby crescent. So a main street may be just what a consumer prefers knowing that they are getting more of the features they want for their money. On the other hand, a buyer may prefer to take the home on a crescent with less features for the money preferring the added safety that accrues to that location, where small children may be a concern or just that is it quieter.  Maybe the proximity to GO trains and highways will be important to the buyer.

It is a matter of choice and most people, whether buying or selling, want to come away from the process feeling they were well informed and pay or receive a fair price.  Call Gail Fabiani for your free market evaluation at 905-577-0220