Pricing your home

Pricing Your Home
When selling your home, one of the hardest things can be deciding on the price. You’ve called us in as experts to sell your home and to help you price it so it will sell. We’re truly dedicated to getting you the most money you can receive from that sale. In addition, we recognize there are many reasons you may already have a certain price in mind. You may be considering…
Your Original Purchase Price
Chances are you paid market value. However, markets change, and today we have to deal with the current market conditions. If you inherited the property and paid nothing for it, would you sell it for next to nothing? Of course not. You’d price it at fair market value and sell it for what the market will bear.
Improvements
Improvements should be made for enjoyment, not resale. You cannot add an item to a home, select it to your style, use it, then expect a buyer to pay the original cost. Likewise, maintenance preserves the value, but does not create value. If you needed a new roof, it was needed as a maintenance requirement and cannot be added to the market price of your home.
Your Need For Money
Your need for money or the fact that you’re moving to a more expensive area where you will have to pay more for a home has nothing to do with the home’s current market value.
The Cost to Rebuild Your Home Today
Construction cost does not take into account market value.
Your Personal Attachment to the Property
The factors above may influence the price in your mind, but as you can see, they really have nothing to do with what your home is actually worth in today’s market. Over the years, we have often heard these comments from sellers.
“Another agent said it was worth more.”
“People always offer less than the asking price.”
“The buyers can always make an offer.”
“My neighbor was able to get his price.”
“My house is better than these other homes.”
“We paid more than that for our home.”
“We just painted and added new carpet.”
“I need this much money for our next house.”
Although some of these comments may be true, they are not valid when deciding on the right price.