Besides knowing how to prepare a home to be ready for selling, most sellers ask “what should my list price be?”. When determining the optimal price for your home, there are several factors to take into consideration.
Working with an Agent:
Many people give you advice as to what you should list your home for. Google has made many an expert on many things, but to really protect one of your largest financial decisions in your life and to maximize your personal profit from the sell of your home, you need to consider working with a real estate professional to determine the best list price for your home.
Important considerations when pricing your home:
Obtain as much information as you can (Your real estate professional will be able to help you).
Consider the following:
Selling price of comparable homes in your area.
Explanation as to why homes have sold for more or less than other homes and how this effects the price of your home.
Comparison analysis of homes that have sold, under contract, or listed for sale.
Time the average home has been on the market for the comparable area.
Review comparable homes in the area and look for the following in that comparison:
Year homes are built
Proximity of the comparable home to your home
Difference in square footage of the comparable homes to yours
Number of bedrooms and bathrooms
Upgrades such as: flooring, bathroom and kitchen upgrades, roof replacements, etc.
Outdoor extras such as pool, outdoor kitchen, storage shed/workshop
Number of garages
Appearance of your home as opposed to that of comparable homes.
Any prior damage to homes
These are a just few items to take into consideration. Each one has more detailed information to consider when pricing your home to sell. Just because a similar home sold for a certain price, it does not mean that yours should sell for that price as well. There are many circumstances of the owners or even the home itself, that are the cause for why a home may have sold for less than yours should.
If you have any questions or would like more information, please feel free to reach out to me and I would be happy to answer any questions you may have and help you properly price your home.