Value Of Property - Barrie Real Estate

Value Of Property - Barrie Real Estate

Value Of Property - Barrie Real Estate

In real estate, it is very important for you as a home owner to carry out accurate property value assessments on your property. One good way of assessing the value of your Barrie real estate property is by taking its square footage into consideration. This is because the evaluation of the square footage of your property can influence its value estimation. Here's why.

The absence of square footage analysis in property value estimation will provide you with an inaccurate estimation of the value of your Barrie real estate property. Properties that fall within 20% down or up in terms of square footage tend to be a favorite amongst real estate appraisers. Because of sub divisions, most homes tend to fall within a fairly limited size range.

It is important for anyone involved in the buying and selling of Barrie real estate to carry out proper analyses of the home selling processes in this area, as well as the particular sizes of the homes. One thing to remember with regards to square footage is that this figure tends to vary a lot with different homes. The common misconception especially amongst first time homebuyers is that if house A measures 2,000 square feet and is worth a certain amount, then house B which measures 2,100 square feet will therefore be worth more. As such, an inexperienced property buyer would assume that because house A is worth $200,000, then house B would automatically be worth $210,000. The truth is that an increase in square footage does not necessarily translate to higher value for your Barrie real estate property. This also applies in the event that both houses A and B are located in the same area, are of the same style or design and feature a similar number of bedrooms and bathrooms.

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