Whether you are buying or selling a home having the ability to identify hidden value is an important skill to obtain. Having the right real estate professional representing you is your key to success. The ability to determine the value of property is the cornerstone of the real estate business.
Buyer’s agents as a matter of business assist their clients by making sure their clients do not pay more for a home than they should. A listing agent's goal is to assist their sellers obtain the highest and best sales price that the market will allow. As an agent when you view property you are looking at it from several different angles. One of those angles is the potential that a property holds.
So what are some of features which can relate into hidden value in a property?
1. Unfinished Bonus Rooms/Basements or Undocumented Finished Rooms/Basements – Unfinished space that can be finished adds extra square footage and value as well as function. Sometimes, there may be bonus rooms or basements that have been finished, but not indicated in the listing or tax records.
2. Warranties – Transferable warranties that are left behind by a previous owner can be a gold mine, nothing like saving on repair costs and having piece of mind.
3. Included Appliances – Obtaining these items as a part of your purchase can make moving into a new home more cost effective with less cash out of your pocket.
4. Dock Rights – Got a boat or other water toys, having dock rights included in your purchase can save you on dock rental and storage fees.
5. Outbuildings – Additional structures on the property that serve or could serve a valid function such guest quarters, gym or storage facility.
6. Memberships to country clubs, golf courses, lakes, etc. – Sometimes sellers, offer a paid membership to the local country club as an incentive to a buyer.
7. Property Surveys – Knowing your property’s exact boundaries and features is priceless. Especially if there plans to add an element such as a fence to your property.
8. Rental Space – Any component that can draw income such as an in-law suite or fishing and hunting rights.
9. Timber – Are those trees located on the property timber trees? If so, depending on the species, size and quality of the trees you could command premium compensation.
These are just a few of the possible hidden gems you can find hidden in a home. You just have to have an open mind and the right real estate agent representing you of course! Visit my web site for insight on how I assist buyers and sellers in the Atlanta metropolitan area real estate market at www.MetroATLRealEstate.com.