Value vs Marketability – Stand apart from the Sotogrande crowd!

A very important aspect of the real estate business is the valuation of the property. Valuing property in Sotogrande is no different. If done correctly it will yield results, for both vendors and buyers in terms of a sale. If not done in a diligent manner it will lead to a property being “stuck” for months and months on websites. Another, also a very important aspect is the properties marketability. What’s the difference? 

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Value is about size (land and house), features (such as windows, kitchens, floors, doors, etc), property type/configuration (villa, townhouse, apartment, urbanization, etc). 

Marketability is about softer issues, such as how ready is the asset ready to be sold. Criteria such as general condition, aesthetic appeal, cleanliness, and very important legal documentation. 

What affects a property’s value in Sotogrande?

1. Supply and demand in the market. Value is determined by what buyers are prepared to pay. When the demand for housing in Sotogrande or Costa del Sol is greater than what is available on the market prices generally rise. The opposite is true when there is more supply than demand. Property prices fluctuate with demand. The value of a villa or apartment is not established by the seller, but by the prospective buyer. 
2. Refurbishing a property can impact the home’s price range but it does not mean it will be more valuable. Upgrading the kitchen or bathrooms will make the home more appealing, but it doesn’t mean a buyer will be willing to pay an increased amount for your Sotogrande property. Also, don’t outspend other properties in your area. Why would a buyer pay more for a villa, when they can get a similar one in the same area for less?

So, what about marketability in Sotogrande?

1. This is determined by how ready the property is to be sold. Increasing marketability can help you achieve a higher price in Sotogrande or Costa del Sol. 
2. If your home is clean, neat and well-maintained, it will be far more appealing to prospective buyers. 
3. Adding a coat of paint and having the garden manicured may not increase its value, but it will make it more appealing to potential buyers.
4. Staging will help. It is advisable to de-clutter and remove unnecessary items. Also, keep the home furnished. It can often be more difficult to sell an empty home. 
5. Make sure all documentation is correct. How many times have sales fallen through because the property is not correctly registered? Sometimes it takes a long while for these errors to be amended. Buyers may find another option in Sotogrande during that time.

Both getting the right valuation and improving the marketability should be considered when selling or buying your Sotogrande or Costa del Sol property. It is important for you to ensure you maximize their potential selling price and stand apart from the crowd.

If you need assessment regarding your Sotogrande property in Spain, do not hesitate to contact us. 

Charles Gubbins +34 607 911 661
Stephanie Noll +34 607 465 383