You have decided to sell your home. The very first thing you think about is "How much is my home worth?"
In one sense, the answer to that question is: "My home is worth whatever a buyer is willing to pay." The problem is, you really only find that out at the end of the process what that price is. Meanwhile, you have to set a target, a listing price to give potential buyers an idea of what you think your home is worth.
It is essential that the listing price you set be realistic. If it is too high, you may discourage potential buyers. If it is too low, you may find it sells very quickly, but you will not have realized the maximum value.
Many factors influence the value of your home: location, age, condition, size and style are among the most common factors. The biggest influence, however, is market conditions. When demand is high, prices generally tend to be higher; when demand is low, prices are lower, too.
How do you know what is a reasonable price for your home? You can check other listings on Propertyshop.ca. You can look at other websites, newspaper advertising, and real estate publications to see at what price similar homes have listed. You can talk to friends and acquaintances that have bought or sold recently.
These are indications only. They will put you in the ball park perhaps, but they won't factor in things that may be unique to your home.
The best, surest way to make sure your home is priced appropriately taking into account all the factors we have mentioned, including market demand, is to have a professional appraisal.
This is well worth the price. You will be assured that, based on the appraisal, you are setting the right price for your home. The appraisal is confidential between you and the appraiser. You don't have to show it to anyone. But it is a valuable document to have if you want to show it to a potential buyer during negotiations. That is your choice alone.
The appraisal will take into consideration the specific condition of your home. (See our Selling Tips for a number of ideas to enhance the value or the "sellability" of your home.)
You may choose to combine the appraisal with any improvements you make in order to find a fair asking price. Remember, selling a house is a negotiation. Your asking price should be higher than the price you are willing to accept, but not too much higher.
There is a danger in overpricing your house. It can end up sitting on the market for an unreasonable length of time, and people can start to wonder if there is something wrong with the house if it hasn’t sold.
In a competitive market where real estate agents are competing for listings, you can end up with someone “buying” a listing by promising an inflated price. This almost always ends up in creating false expectations on the part of the owner and, ultimately, disappointment.
With Propertyshop.ca you aren’t influenced by competition for listings. You set your own price based on a realistic assessment of all the factors that determine the value of your home.
Nobody will try to “sell” you on an unrealistic price.
No comments:
Post a Comment