The Foundation For Your Future
Pricing Your Property
Pricing your property to sell can be difficult. When you decide to sell you want to sell as quickly as possible. At the same time you want to get as much cash equity as you can from the sale. It's difficult as an owner to price the home because you have an emotional attachment to your property. And no one can put a price on what the home is worth to you. When pricing you have to be able to set aside the emotions, the memories and look at the sell as a business opportunity. You bought your property at a base price and you added some items to make the home more comforting to your lifestyle. Along the way you have invested money in replacing and repairing items that needed to be done to maintain the home. Once you add in all these costs and include appreciation for each year you figure "that's what I will ask for my price".
The realty is pricing your property with this equation will probably inflate the value. Because of market changes over the years and how often it fluctuates it is almost impossible to price your property this way. And most of time it sits with a For Sale sign in the yard and folks call to find out the price and never call back.
To prevent your home from having a lot of lookers and no serious buyers consider having an agent list the property. With there expertise in the area and with the market they will be able to check out the homes on the market and the ones in your area that have recently sold. This gives you a good estimate of what market value is for your property. You can also have an appraisal completed.
It is best to take the emotion out of the pricing and use logical thinking. You will not be able to recover all the blood, sweat and tears you have put into the home. Those are what created your memories and those will stay with you forever. Emotion is not part of the pricing, appreciation is not always what you thought it should be, and the market is always changing so price accordingly to compete with others.
Logical thinking can help get your home sold. If you're looking to sell fast asking a bit less may be a good idea. If you are in no hurry to move then it is okay to ask the higher price and wait on the right buyer. The downside is sometimes you wait to long and the right buyer has walked and bought a cheaper home in the same neighborhood.