How To Price Your Home To Sell Quickly Without Giving It Away
When you sell your home, you want to find the perfect balance between pricing the property low enough to attract buyers while getting the highest value for the home. It can be difficult to know how to find this perfect balance, but there are some ways to help you know how to accurately price your home.
Research
To determine the right price for selling your home, you must do your research into the local housing market. You should look at the competition in your area and assess the prices and condition of comparable real estate. Be sure that you focus on homes with similar square footage, condition, age, and location. If a home has been listed for a long time on the market, then it is most likely priced too high. You do not want to look just at the real estate currently on the market. The more important numbers are those associated with past sells of comparable homes in your area. Reliable sources of marketing trends include the Federal Housing Finance Agency, local property tax records, local building permit information, and FNC.
Get Your Home Appraised
If you are unsure of the value of your home, you can get a professional to come in and appraise the property. You can also get your home inspected to find any repairs that may affect the price of the house. You may also be able to do some simple and inexpensive maintenance and repairs to raise the value of your home. Talking with a professional real estate agent can also provide valuable insights into the true value of your home and the current market trends by providing you with a Comparative Market Analysis (CMA).
Ask for an Objective Opinion
When people sell their homes, they are often influenced by sentimental value when trying determine its monetary worth. Therefore, it helps to have an objective opinion about the true value of the home. This could be from a real estate professional, or even a trusted friend, family member, or colleague, as long as they can be objective enough about the property. Another way to objectively review your asking price is to try to look at it the house as though you were a buyer. Think about whether you would pay the asking price for your home in its current condition.
Do not just simply ask for the price you paid for the property. You want to be sure to set the price low enough to attract buyers while also ensuring it is high enough to not only to satisfy your financial goals but to fit in with the market. You should also keep in mind that the asking price for real estate is often a starting point, rather than a final price.