Pricing Your Home To Sell
List To Sell- Pricing Your Home Right
Even though you are moving there is a good chance you still love your home. If for no other reason than it is where you spent time with your family. This emotional attachment can make deciding on the price of your home hard for some and that is okay. This is just one more reason why it is so important to have a good realtor that you can trust.
The right realtor will be able to explain to you exactly why they feel you should be asking a certain price. This should include showing you what other similar homes in the neighborhood have sold for.
The goal is to find the right price the first time you list. Having to lower the price at a later date never looks good and you can be sure that other realtors, those who will be representing potential buyers, will notice.
Here are some things to keep in mind when pricing your home to sell:
Forget what you paid
While we all want to make a pretty penny when selling our homes that is not always realistic. Unfortunately, what you paid for the home when you bought it has no bearing on what you can actually sell it for. What you sell your home for is going to be determined by the current real estate market. Period.
Pay attention to comps
You have tools at your disposal both online and offline to help you determine what your home should be selling for so use them. Comparables, or comps, are one of the best tools to help you figure out the right price for your home.
Comps will show you what other homes of similar square footage, with the same number of bedrooms and bathrooms, in similar condition, in the same neighborhood sold for. This is most likely what you will be able to get for your home. Pricing it much higher is not going to ensure you make more money off the sale.
Use your realtor
Nothing beats having a knowledgeable realtor that you can trust but that does not mean you should do so blindly. When yours tells you what price they feel the home should be listed at, be sure to ask why.
You can never know too much about what is happening so never be afraid to ask questions. If your realtor doesn’t seem to want to give you any it might be time for a new realtor.
Understand that upgrades don’t necessarily mean a higher asking price
If you have upgraded the home and added a bunch of great features that doesn’t always translate to a higher asking price. It all depends on the upgrades.
Get a handle on just what upgrades affect the price of the home before you list. For example, refinishing old hardwood floors will give you a 100% return on investment while getting a nicer, newer pool liner will not. Upgrading a bathroom will give you a great return, sprucing up your dining room? Not so much.
These tips are a great start to help you list your home to sell at the right price the first time. And really, isn’t that the goal?