If you've recently decided to sell your home, you might be experiencing a range of thoughts and emotions. Besides the committment to sell your home, choosing your asking price is probably the biggest choice you will face. Working with an experienced agent is key, and having professional guidanceallows you to list your home with confidence. Following are some home pricing thoughts you'll want to consider before making a decision.
Get Acquainted With the Market
The housing market changes often, and trends develop because of supply and demand. Your strategy may be much different in a buyer's market than in a seller's. Research to understand what is happening in your area. Upfront knowledge is important in deciding, and a REALTOR® will provide valuable insights into the market.
The Power of Comparison
It's your right to ask any price you want for your home, but that doesn't guarantee that you'll get it. An huge part of pricing your home is to look at comparable homes and–not what they listed for, but what they sold for. Your REALTOR® can provide you with a comparative market analysis which is full of helpful information on your area comps.
Put Your Emotions on Hold
Of course, your home holds sentimental value, as it should, but some parts of your home may be worth more to you than they would to a potential buyer. Are there add-ons that may detract from the value to buyers? Could your home use a makeover? The answer to these and other questions, when answered honestly, may influence how you ultimately price your home.
Spruce Up Your Home
Your home may be in good or even great shape, but most homeowners can find a few things that need attention. Small projects such as tidying up your home's landscaping and decluttering its interior may allow you to up your asking price. Potential buyers will be looking at the home as a whole but will hone in on details as well. A tidy, welcoming home is what they hope to see.
Taking the time to do your research and make your home its best before listing your home will make the pricing process easier.