One of the first things you will consider when putting your home on the market for sale is the price.
Pricing your home should take some careful consideration. It helps to understand how the list price can impact the sale of your home.
For example, if the price is too high, you may limit your buying pool to a smaller audience of buyers who have been approved with the financing to purchase it.
On the flipside, if it is priced too low, it may sell easier, but you lose out.
You want to get the highest price for your home, but if you aren’t reasonable, you’ll never end up selling it. Your goal should be to set a realistic price. Professional Realtors represent 87% of home buyers, so your home price will be under professional scrutiny.
There are four factors you can look at when it comes to raising or lowering the price of your home.
Location
It’s become a cliche for a reason. Location, Location, Location. The most significant factor in your price will come from the price per sq. Foot of what homes sold in your area.
Condition
With the base price per sq. Foot you may be able to make adjustments based on the condition of your house. Homeowners tend to be biased toward the state of their homes while prospective buyers are extra picky.
Surroundings
Don’t underestimate what people will be willing to pay for a good school zone or quick access to major commuter routes. Buyers won’t just be looking at your house; they’ll be paying attention to the traffic getting there and the property and views around it.
Features
Accentuate your homes positive features. Keep in mind buyers are shopping. Buyers approved for a loan amount, don’t mind paying a little extra for features they love over another home.
We’ve seen buyers pay nearly 5k extra just because it had a fireplace and the other similar homes didn’t.
If you are looking for a ballpark price estimate, try looking at your Zestimate online or of homes similar to yours.
But before deciding to list your house, make sure you get a professional realtor to give you prices of homes like yours.
We offer a free automated home pricing tool that uses actual sold data, so it’s more accurate than typical online home pricing tools used by Zillow or other national real estate websites.