Pricing Your Home To Sell
In addition to location and condition, the asking price of a home is at the top of the list of important considerations. When a potential buyer is looking for a property, they want to get the best possible value for their dollar. This doesn’t mean that a home should be priced too low, but it does mean that knowing how to price your home is a must.
Know The Value
Regardless of whether you are in a buyer’s market or seller’s market, it’s important for every seller to know the market value of their home along with current market conditions. With this information, you will be able to choose a listing price that does not exceed the home’s value. At the same time, you will know how to react to various offers that a potential buyer may make. If you can select a price that is affordable to a range of buyers, you may receive multiple offers thereby sparking a possible competition among the interested parties.
Do Your Homework
The asking price that you choose should not be based on any one factor alone, but rather a combination of factors. One such factor is that of recent selling prices for comparable homes in the area known as “comps.” Important comparisons include construction year, square footage, views (if applicable), interior upgrades and additional features that make the home unique. Another part of the research is examining the current listings and the asking price for each home available in your area.
Set A Realistic Timetable
In reviewing the sale price for other comparable homes in the area, you should also note the length of time a particular house has been on the market. Some homes practically sell overnight, while others may remain on the market for months without being sold. If you want to sell your home quickly, you should consider this when setting a price. A bargain will obviously move quicker, but it’s important to make enough from the sale to feel good about your choice.