- Joined
- Jun 29, 2012
- Messages
- 2
Hello Experts,
Need some help with my dilemma. Would greatly appreciate any inputs you can give.
We have fallen in love with a house and we want to bid for it. The house is in a court with cul-de-sac with a Pie backyard. So, when we checked the neighborhood, the average sale was at $720k.
The house next door, which has exactly the same location and privacy advantages sold 2 months back at $750k. We want to use that as our pricing benchmark.
However the next door one has a bigger lot size (5600 vs 5000) and 200 sq.ft more in living area (2600 vs 2400).
How can I adjust the price based on the reduced lot size and living?
A simple math, brings it at $695k. Assuming, everything else is the same, that is.
However the other house also has a finished basement, an upgraded kitchen with granite, a fountain & a big patio in the backyard, a central vac, an upgraded 4 pc ensuite (vs a 3 pc in the one we live), hardwood floors on 2nd floor, an upgraded second bath, an accessible door from Garage etc.
If I included these costs, the prices comes down to well about $620K, which does not seem right.
Can you please help?
Thank you.
Need some help with my dilemma. Would greatly appreciate any inputs you can give.
We have fallen in love with a house and we want to bid for it. The house is in a court with cul-de-sac with a Pie backyard. So, when we checked the neighborhood, the average sale was at $720k.
The house next door, which has exactly the same location and privacy advantages sold 2 months back at $750k. We want to use that as our pricing benchmark.
However the next door one has a bigger lot size (5600 vs 5000) and 200 sq.ft more in living area (2600 vs 2400).
How can I adjust the price based on the reduced lot size and living?
A simple math, brings it at $695k. Assuming, everything else is the same, that is.
However the other house also has a finished basement, an upgraded kitchen with granite, a fountain & a big patio in the backyard, a central vac, an upgraded 4 pc ensuite (vs a 3 pc in the one we live), hardwood floors on 2nd floor, an upgraded second bath, an accessible door from Garage etc.
If I included these costs, the prices comes down to well about $620K, which does not seem right.
Can you please help?
Thank you.