The Ins and Outs of Setting a Price for Your Home

 

When selling your home, assigning a price to that value is complicated. There are so many factors to take into consideration: the memories, the space, the interior, and exterior design, and the list goes on. But you have a major financial interest in the place, too, so the best way to find a price for your house is to think like a buyer. 

 

Buyers think of value, but they’re more concerned with price. And your home’s price is one of its most attractive — or unattractive — features. The right price can attract buyers quickly. The wrong price may mean the house sits on the market for a long while. 

 

To avoid this kind of mess and confusion, we have some tips to share which will make the home-selling process easier. 

 

Your agent brings the right mix of industry expertise and knowledge of your local market to the table. A good agent will listen to your needs, take into account your research, and use his or her knowledge of the local market to help you pick the best asking price. You will collaborate as a team since it’s in both of your interests to price your home correctly. 

 

Your home’s listing price should largely depend on what similar homes recently sold in your area. To price your home, your agent will run the average sales prices of at least three homes to assess your home’s value.

 

In addition to recently sold homes, your agent will also look at properties currently for sale in your area. These listings will be your competition.

 

As previously mentioned, many sellers think their home is worth more than it is. This is a result of memories and sentiment. But you have to stay objective when assessing your home’s value. Buyers, after all, won’t know your home’s personal history.

 

Thinking of selling your home as a simple transaction is impossible. But everyone decides to do so for a reason, so at this point, all you have to do is to make the right decision related to the pricing because there is so little room for mistakes. 

 

Keep our tips in mind, and feel free to share them with someone going through the home-selling journey.