Real property is unique. Homes that are in the same neighbourhood, same street and even adjacent property are all different. Even if they look different, one might have a bigger lot size.
In an apartment building, units vary in size, number of bedrooms, views, location, etc. Because it is unique, it has certain aspects that cannot be compared to another property. Each unit --even new building developments--is different. Appliances and finishes might be either inferior or superior to another unit, i.e. granite kitchen counter, stainless steel appliances, brand names Bosch vs. Maytag.
For a single detached home, the type of dwelling is unique from house to house even on the same block. The size of the dwelling, the landscaping, interior and exterior finishes, are all to be taken into account, and not easy to compare. These are some of the many aspects we look for when Realtors value a property. The more closely aligned the seller's and buyer's value a property's aspects, the better able the buyer and seller can achieve their goals.
For buyers, understanding that because a home is unique, be prepared to compete and bid as chances are there won't be one like it.
Attend our home buying seminar for more information about the process, market trends, forecasts, statistics & more.
Go to www.vancouverfirsttimehomebuyer.ca for scheduled events, or TEXT / email me at firstname.lastname@example.org (604) 764-6873.