Property Valuation Benidorm
If you plan to sell your property in Benidorm, you should get a property valuation from a professional real estate agent. The broker will come to your house for personal inspection and give you an estimate of what you can sell your home for. In this article, we will cover everything you need to know about property valuation of houses and properties in Benidorm.
When you consider moving, of course you are wondering what your home in Spain is worth in today’s market. You get the answer from one of our locally known brokers, free and completely non-binding. We also give you advice on both buying and selling property in Benidorm. If you would like a FREE property valuation of your home in Benidorm, please contact us today.
What happens during a property valuation in Benidorm?
To conduct a property valuation, a professional broker will do a lot of preparation work before the physical inspection of your home. The broker learns your home and understands what is unique about it, and spends time so they knows the neighborhood better than you do yourself. The broker will describe who the potential buyer is, and lay out a plan and strategy for just your home, and how to maximize the price the clients are willing to pay.
A property valuation from a broker will, in addition to the broker’s experience, both personally and collectively in the company, be based on knowledge of the current housing market. Including a statistical factual basis based on a database for all home sales in Benidorm. The broker estimates a value based on relevant sales made in the area in recent times, and adjusts for different qualities that do not appear in the statistics, but which can make a big impact on the sales price. For example, sun and views, garage / parking, patios, interior standard etc.
Factors in property valuation in Benidorm
There are several factors that are reflected in a property valuation – it represents the sum of the totality. In this is the location, standard of the home, number of rooms and floor plans, neighborhoods, proximity to schools, kindergartens and activities, public transport, garage and parking facilities, outdoor areas and any common areas, to name a few.
What can the property valuation be used for?
With a new property valuation, you have the opportunity to get better conditions for you and your mortgage. If the property has increased in value while you have repaid the debt, it will increase the security the bank has for the loan. In this way, you will be able to negotiate at a lower interest rate on your home loan. In periods of high house prices, it will be very profitable to negotiate at lower interest rates. If prices fall again, you will have made good negotiations and remain at a favorable rate.
If the value of the property has increased, the flexibility of the loan will also improve. If you want to finance, for example, a renovation by increasing the home loan, this can be done as far as the loan’s total amount does not exceed 70% of the total value of the home. If you do not have enough flexibility, you may want to consult with a broker or appraiser what type of refurbishment is worthwhile and that will increase the value of the home more than the refurbishment cost itself. From here, a loan can be raised to finance the renovation project, and then baked it into the home loan after the new valuation has been carried out.
Advice and guidance when selling property in Benidorm
A good broker will also present what you as a resident of Spain get from a potential partnership, give advice when it is best to sell your home, and whether there are opportunities to change that could give you more of the sale.
In some cases, it may be worthwhile to style the home, paint a little, or other things to make sure it is at its best for display. This will give you the best possible basis for deciding whether and when to sell, and which broker you should use when selling. A good broker is an investment – you should be left with more than if you had done the job yourself. After the inspection, the broker will send you a valuation showing how much your property is worth in today’s market.
Why do you need a valuation in Benidorm?
A property valuation is an important step on the way to get a complete picture of how well you home in Benidorm will sell in today’s market. Not least, you can get suggestions on how to maximize your sales value.
You usually get free valuation from most real estate agents, if you are considering selling your home. If you need a refinancing valuation, you often have to pay the broker for this.
When should you contact a real estate agent for a property valuation?
You should contact real estate agents when you start thinking about moving. It is important to know what you can get for your home before you start to view other homes.
It is especially important that you make a valuation BEFORE you need to refurbish the bathroom, kitchen, or other big changes. It is not always worthwhile to refurbish the bathroom before selling. With a valuation, you can be more certain that the refurbishment will actually increase your home value.
If you would like a FREE property valuation of your home in Benidorm, please get in contact with us by using the contact form below. Thank you!