There are many reasons why you would want to move and sell your house. When it comes time to do that, you will have a lot of things on your mind. Your home is your most valuable asset, so you want to make sure you price it right, so it doesn’t remain on the market for a long time. The longer it stays on the market, the less you will get for it. Here are some things to consider when you are deciding to list your home.
The comps sale price
The amount someone is willing to pay for a home is always what the price will be. However, to get your home in the right range initially, make sure you are looking at the comparable homes in the area. An agent is an excellent resource for this and will be glad to get you this information. Comparable homes are ones with similar square footage, number of rooms and baths, and even basements that are finished or not.
Comp listing prices
In addition to finding out what other similar homes sold for, it is also good to look at what other comparable to the listing price of other comparable homes. Home Buyers will be looking at other homes in the area pretty carefully, so you need to be in that same range to be competitive.
In real estate, a lot of different things factor into the price, but probably none more important than location. For every home buyer, that location may be something different. Some people might overlook a home with a lot of repairs needed if it is near the city and nightlife they desire. Others may prefer access to freeways, closer to shopping areas, or more secluded areas. Any location can be appealing to a potential home buyer. Make sure you appeal to what people are looking for in a city.
Some buyers will be glad to make a lot of needed repairs to a home. They will, however, look at the required repairs and factor that into the price of the house. You shouldn’t be comparing a home with the similar square footage if lots of fixes are necessary to one doesn’t need them. Make sure to factor that into your listing price.
What type of market is it? Is it a seller’s or buyer’s market? If it is a buyer’s market, you will have to compete with another seller to make your home more appealing. Your home may be in good shape and staged adequately, but you might still have to lower your price. To stand out, you might need to offer other incentives that other sellers aren’t providing. If it is a seller’s market, you may be able to list it for higher and get multiple bidders. Follow the news about the interest rates, amount of people moving to your area, and the job market to get the best feel for the market.
There are a lot of different ways to market your home, but one of the best ways to make it sell it to list it at the best possible price.