Putting a price tag on your home is difficult because your home is unique and filled with many personal stories and memories. You want the next owners to take just as good care of the house as you did. When listing your house, pricing factors fluctuate depending on your house, the market and area. Below are five pricing factors to look for when selling your home.
Look at the Market
Housing markets change quickly, so you need to make sure you are on top of your game when deciding what to price your house. Look into the past three months of what a house similar to yours and around your area was listed. This will give you a good estimate on what to list your home!
Finishing Touches Matter
If you spent a good chunk of time and money on renovating your home, buyers will notice. They prefer to spend more money on a house with new fixtures and finishes compared to an outdated home. Updating your home before listing will add a higher price factor.
Everyone is Different
If there is a house down the street with the same square feet and same amount of bathrooms and bedrooms, it is still a different home compared to yours because of different appliances or yard space, etc. Therefore what your house sells for will be different than what the house down the street sells for. This is another price factor to consider when listing your home.
Go to Open Houses
Do all the research you can when determining a price for your home, even if it means going to someone else’s open house. This will allow you to see your competitor’s renovations, floor plans and fixtures, giving you insight on if your house has more or less value.
Utilize Your Real Estate Agent
Ask your local real estate agent on their thoughts on the housing market and what you should list your home. A great agent knows the market in your area well and will provide you insider’s knowledge on homes for sale. Don’t rely only on what your agent tells you. Be proactive and research to see what the best price is for your home.
Are you ready to sell your home and need help buying a new one? Contact vLoan to help get you started in the homeownership process.