Calculating the sale price of a home in Fuerteventura is a task that is influenced by several factors. Probably the least relevant is the emotional one, i.e., the price that the owner estimates his property is worth in the market.
The tactic of setting a high price and then lowering it if no buyers appear is a mistake that should be avoided by the seller of the property.
Setting a price that is appropriate to the market situation from the outset allows for shorter sales lead times and a higher closing price for the transaction.
What factors are taken into account to calculate the price of an apartment in Fuerteventura?
Location
What is the average price of homes for sale in Fuerteventura?
It depends mainly on the area in which they are located. La Oliva, Puerto del Rosario, Tuineje, Pájara, Betancuria, Antigua, are municipalities of the island, but the real estate market is different and in each of them, there are different areas, with more or less concentration of available properties, and more or less demand from buyers.
The proximity to the beach and the city center, to services in the area, define the price in a very high percentage.
Surface
The built meters of the property will be another of the elements that add value to the real estate investment.
In this way, not only the surface of the house will have to be taken into account, but also its distribution in number of bedrooms and bathrooms, the space of rooms such as the living room, the hall, the terrace or the garden.
Age and state of preservation
The year the house was built and its condition indicate the need for major renovations or minor repairs.
The possible reforms that have been made both in the property and in the building, will also be issues that add value to the prospective buyer (installation of elevator to ground level, roof and roof repair, or reforms in the electrical system.
Other characteristics of the property and the area
The characteristics and functions of the dwelling are taken into account, such as the existence of security systems, green and leisure areas, sports facilities, swimming pool, garden, terrace, sea views, as well as other services provided by the community of neighbours of the building or urbanization.
In an environment such as the Canary Islands, an important factor is the existence of solar panels on the building, which provide energy to the community. Remember that there are bonuses for having thermal installations in the houses (IBI solar).
Free home valuation service in Fuerteventura
Destiny Home offers a free property valuation service in Fuerteventura, with a system based on
- collection and analysis of official sales data in Fuerteventura, from Soain official sources: Fomento and Registrars,
- operations carried out by the real estate agency in recent months,
- observing the market trend,
- the knowledge of the properties that are available in the real estate market of Fuerteventura,
- the experience of real estate agents specialized in the buying and selling areas of the island.
As an owner, you only need to provide basic information so that the area agent can review the data and prepare a study of the property.
The estimated sales price is calculated based on actual closing prices of similar homes for sale in the area; the proposed estimated value is an amount on which to prepare a more detailed and personalized analysis, which requires a prospecting visit to the property and the area.
How a real estate agent helps to establish the real price of properties in Fuerteventura.
Sometimes, as an owner, it can be tempting to overvalue the property. However, determining the right price for a home is a delicate art. This is where a real estate agent can be of great help.
Market knowledge
Destiny Home real estate agents have a deep knowledge of the market in Fuerteventura.
This allows them to determine the real price of your home based on a number of factors, such as those listed (the location, size, age and condition of the property).
It is not an easy task, but counting on their experience can guarantee you a valuation adjusted to the market reality.
Comparison of similar properties
A technique commonly used by real estate agents to determine the price of a home is to compare it to similar properties that have recently sold in the same area.
This type of comparison is called comparative market analysis or MCA, which uses witnesses, homes sold and for sale, similar and in the same area to which you want to determine its price.
Negotiation and advice
In addition to setting the price, real estate agents can also advise you during the negotiation process.
A high price may discourage potential buyers, while a price that is too low may cause you to lose money.
The agent will help you find the perfect balance, ensuring you get the best deal possible.
In Destiny Home we have 2 offices open to the public, in Corralejo and Puerto del Rosario, from which the agents offer the service of advice to owners in Fuerteventura.
