By Shell Johanson
How much is my Cariari home worth? That’s a question I’ve been asked so many times. Usually a seller already has a price in mind and their expectations are at times quite dead-on; at times too low, but in most cases they want way too much money.
I’ve heard all the reasoning, “But I paid so much for it”, “I really need that much to buy what I want”, “But I’ve put so much money into renovations”, etc. I always tell them the same thing, “You can choose the paint, the curtains, the lamps, the home, but you can’t choose the price of your own home.” As unpalatable as it might seem to the seller, the price is decided by the market place, and the market is a slave to supply and demand.
The Costa Rica real estate market is really something quite vibrant and can move up or down quite suddenly as many have witnessed. But in a country where there’s no real MLS (multiple listing system) to use as a guide or as a reference with comparable property for sale in the same neighborhood, how do you find the market value?
Ahh well, that’s where your experienced real estate agent comes in to help you out. If the agent is familiar with the area, in my case Cariari - Belen then the agent will have a very good pulse on proper pricing of the property for sale. My name is Shell Johanson, I Iive and love Cariari and know what is going on here.
A fast price guide one can always rely on is what’s called ‘replacement value’ and many banks use this kind of estimate. Although in most cases a great tool and easy to work with, so many square feet of construction at such and such a price and a lot of dimensions at such and such a price, swimming pool cost, cost of architects and permits, etc., it is still only a guide.
Many Costa rica properties for sale have an intrinsic value that is hard to define and it does add to the value of that home. So by all means, ask several real estate agents in the area and decide for yourself as to their accuracy. You will find some real estate agents who are only interested in making an ‘easy killing’ and will lower your sales price to do so. I can assure you that your Cariari ‘GoDutch’ agent wants work hard to earn the commission trying to make it a fair deal as I know what fair values are all about.
You might not always like what I have to say about the price of your home but I assure you I know my stuff, and a badly priced home is one that does not sell and just sits there costing you money.
Keep in mind that the first few months of a sale are always the most important ones, so don’t undermine the sale of your own home by overpricing. Contact me for a FREE appraisal of your Cariari property before you put it on the market and with pleasure I will explain you what I can do for you.