In this blog post, we look at Pricing your Spanish Country Home to Sell.
Pricing the house correctly is of utmost significance when it comes to selling townhouses, apartments, or country properties in Spain.
The duration of time that your home stays on the market is influenced by the price you set. In the event of setting the price too high, the number of potential buyers may decrease, leading to an extended time on the market. This prolonged period may create a negative perception, suggesting that there could be an issue with the house.
Location, location, location
We've all heard this age-old real estate mantra before, and it couldn't be truer when it comes to pricing your property in Spain. The location of your home plays a major role in determining its value. Is it situated in an up-and-coming neighbourhood with trendy cafes and boutiques? Or is it tucked away in a quiet countryside with stunning views of rolling hills and vineyards?
You need to consider the amenities and attractions that surround your property. Are there good schools nearby? What about transportation links? Access to supermarkets and shopping centres?
The more desirable the location, the higher the price tag you can justify.
Size Matters
The size of your property also plays a significant role in its pricing. Buyers generally have specific requirements when it comes to the number of bedrooms and bathrooms they need. A spacious living area and a functional kitchen are also key selling points.
Of course, there are always exceptions to this rule – some buyers may be looking for smaller properties for investment purposes or as vacation homes. But overall, larger properties tend to command higher prices due to their ability to accommodate growing families or provide extra space for hobbies and entertainment.
Comparable Sales
N.B. To get a good understanding of how the property market is doing on the Costa del Sol, we regularly update our Recently Sold Properties Page. We disclose information about how many viewings the sold properties had, how many offers, how long it was on the market for and other useful information such as what nationality the buyers were.
To determine the appropriate price for your home, the easiest approach is to evaluate the selling prices of similar properties within your locality. Ensure to examine houses that share the same number of bedrooms, bathrooms, and square footage as your own. Opting for comparable homes with akin floor plans and plots would be even more advantageous.
By studying these comparable sales, you can get a sense of what buyers in your area are willing to pay and how long it might take for your property to find a buyer. It's important to be realistic and adjust your expectations accordingly. If similar properties are selling quickly at a certain price range, it's a good indication of what buyers are willing to pay.
Reflect on whether significant improvements you have implemented justify a higher price for the property. Should you have renovated the kitchen and installed a new floor, it is essential to ensure that the price reflects these enhancements. Be prepared for the possibility of receiving less money than anticipated, as improvements do not always result in recouping their full cost.
When determining the value of rural properties in Spain, numerous factors come into play, extending beyond the property's condition, size, presence of amenities like a pool or garage, and plot size. The location itself holds significance, whether it is close to the nearby village or tucked away in complete seclusion. Additionally, the accessibility of the property is crucial, considering factors such as the length of the track leading to it or whether it is connected by a well-maintained tarmac road. These variables collectively contribute to the final sales price.
Market conditions
In a buyer's market, where there is an abundance of properties available, you may need to price your home competitively to attract buyers. On the other hand, in a seller's market where there is high demand and limited inventory, you may be able to ask for a higher price.
Do some research and talk to real estate professionals in your area to get an idea of what the current market conditions are like. This will help you make an informed decision when setting the price for your home.
Be realistic!
Remember, the goal is to sell your Spanish country home for a fair and competitive price, not to hold out for an unrealistic offer. Being realistic from the start will help attract serious buyers and increase your chances of a successful sale.
If in doubt, consult the professionals
Remember, pricing your home correctly from the start is essential. Don't let emotions or unrealistic expectations drive your decisions. Take into consideration the factors we've discussed – location, size, and comparable sales – and seek professional guidance if needed. By doing so, you'll increase your chances of selling your property quickly and at the best possible price.
Selling a Spanish Rural Property can be Stressful...
So, if you are looking for a reliable and active specialist rural estate agent with an impeccable reputation to market and sell your property, then give us a call as we have a huge client base looking for properties throughout the Guadalhorce Valley, Spain, and surrounding areas. Click on the following link if you would like further information and Professional Advice for Selling Rural Properties in Spain.
We're in the people-first business, not the property-first business. Decades of conversations with individuals like you have provided us with the knowledge and skill to sell any property, regardless of the circumstances.
If you are interested in purchasing or selling a rural property on the Costa del Sol, please do not hesitate to contact us to learn how we can assist you. In the meantime, you may find our Guide to Buying a Property in Spain useful.
We do hope you found this blog post useful, we look forward to meeting you one day soon at our office in Coin.
