What's Your Vancouver Island Property Worth?
In today's real estate market, pricing your home right can make or break a successful sale. At Layzell Dreger Walton & Associates, we know how to price your property to make sure it sells for top dollar. If you're curious about your home's value in our current market, just fill out the form below and we'll send you a free Comparative Market Analysis. Or, find out more about how we determine your home’s value below!
How Do We Determine Your Home’s Value?
When you partner with our team to sell your home, one of the first things your agent will do is determine a fair market value for your property. In a competitive market like Nanaimo, this pricing strategy is crucial to the success of your sale. On one hand, if you price it too high, the listing will linger and become stale, while lower priced listings get all the attention. On the other hand, if it’s priced too low, you may not get the full worth of your investment. Your agent’s number one concern is that your home sells quickly and garners multiple offers.
To accomplish this, they’ll look at factors like:
- How much have homes in your area recently sold for?
- Perform an in-person inspection of your home to factor in features that affect the value of your property.
- Where the city’s overall real estate market is trending.
How Does This Valuation Differ From BC Assessment?
Homeowners are often surprised to learn that their home’s market value and assessment value are very different figures. Although BC Assessment bases your home’s value largely off of the real estate market, their valuation is usually only done once per year and doesn’t change until the next assessment is done.
In a rapidly growing market like ours, assessments can become outdated rather quickly. Our market valuations determine what your home is worth right now, ensuring you’re setting an appropriate asking price when it’s time to list.
Ways To Improve Your Home’s Value
Can you improve the value of your home? Absolutely. From large-scale improvements to budget-friendly upgrades, there are often many ways to improve to take the value of your home to the next level. Visit the informative sellers section in our blog, or learn more about the selling process in our Nanaimo home selling guide.