Location of the home

Discussion in 'Buying & Selling Real Estate' started by shilpa123, Nov 20, 2014.

  1. shilpa123

    shilpa123 Banned

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    I am trying to sell two homes out of which one is located in a deserted region and another in a centre of the city. Which do you think would be sold out at higher price? Do you think I should keep a higher price for any of these?
     
  2. Rainman

    Rainman Senior Investor

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    Property located within the city will be more expensive than one located further out. But then again, it would depend on which city it is. In Detroit for example I've heard that people are being paid to take some abandoned homes. Great deal? Nope. Currently it's the most dangerous city in the U.S. So if you own property in a place like Detroit then quite obviously either you wouldn't sell the house for a lot of money or you won't sell it at all.

    So since there are lots of variables at play which would ultimately determine what you make from either of the two houses, you'd need to tell which city it is in order to get less vague answers.
     
  3. Peninha

    Peninha Senior Investor

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    It depends on a lot of factors, but to start with a place in the city just for the location has to be worth more.
     
  4. dianethare

    dianethare Senior Investor

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    It goes without saying the house in the heart of the city should sell for more, much more, and you ought to invest the money you get out of that..as for the one in a sort of deserted area, just put up a friendly price {pocket worthy} and you just might get shocked at the turnout :). All the best.
     
  5. Muthoni

    Muthoni Guest

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    The one in the city should definitely fetch more. The home in the deserted place could be highly sort after by persons looking for solitude. Maybe before setting the price, find out what buyers are looking for so that you can set the price based on that. Security in the neighborhood will also determine if someone will be willing to buy that home isolated from the masses.
     
  6. Gelsemium

    Gelsemium Senior Investor

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    I think that selling a place, even if it's a good one, in a bad location can be something extremely difficult because these days it's a sellers market, not many people buying.
     
  7. shilpa123

    shilpa123 Banned

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    I do not think both the houses should be sold at the same price. It will be a big injustice to the location of the house. It is best if you try and sell the house in city at a higher price.
     
  8. Rosyrain

    Rosyrain Senior Investor

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    Your out of the city house might be attractive to someone who is looking to get away from the rush of the city. Your house in the city would probably be appealing to someone who really wants to move to the city, depending on what city like mentioned above. It really depends on where you live and where specifically the houses are located.
     
  9. missbishi

    missbishi Well-Known Member

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    Your best bet would be to go online and find out how much similar properties in the area have sold for. You need to take note of the current market conditions before deciding how much to ask for either house. Otherwise, you could end up letting the house go for below the market value or even not being to sell at all because the house is overpriced.
     

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