Home Selling Price: What To Consider Before Focusing on a Number.
Making a list of “to do’s” while preparing to sell your house or other property can be quite lengthy and cause you to act hasty when setting a price. A reasonable price is key to both buyer and seller experiencing the best sale possible. Regardless of the length of time you’ve owned your property, it is good to do the necessary research to know its current market value. There are invariably a lot of things to consider when setting a price for your property. Questions that need to be answered initially could include: How big is the house? What are its specs? How big is the lot? Location? Other questions to consider will often include topics dealing with the economy and the time of year you’re trying to sell the home.
Best Times To Sell And Other Factors
Spring is typically the best time of year to sell a house, as late Fall and Winter are usually slow times for real estate sales. Economic depressions or slumps can greatly affect the sale of a piece of property. If you can, wait until the market picks back up to a healthy rate. But it is unavoidable at times, and you may need to sell the house quickly. One of the easiest (and most important) ways to set the price of your house is to review the sale prices of homes in your area within the last twelve months. This is the best way to gather an accurate snapshot of what your home should be expected to net. And listen to your real estate broker. They will be experienced and provide sound judgment in helping price your property.
Regardless of the price you come to decide on for your property, the place itself should be in top order. Remember, the nefarious “first impression” is 80% of the potential buyer’s opinion of the property. Go above and beyond when it comes to taking care of the lawn and hedges. Paint the house if necessary, or do any needed repairs. The same goes for inside. Take for granted that you’re jaded when it comes to the appearance of your home. They are your memories and sentiments after all! Your memories don’t mean much to the buyer, however, so don’t be afraid to replace carpet or paint over a child’s former bedroom. Also in regards to setting your price in comparison to others in your area, don’t forget that your home may or may not feature certain amenities that could add to the value of your home. Does your property have an added large storage building on the back? Does it have a swimming pool? What about that new deck you put on last summer? These are questions that need to be considered when adjusting your idea for a price.
Setting the right price for your Columbia property in the beginning is crucial. If you set it too high, the house will sit and become stale in the advertisements. If you lower the price, buyers may see that as a sign that the property was being listed for too much and the new lower price may still be too high. On the other hand, if you price it too low, it will sell fast but you’ll lose some greatly desirable net profit. Location, time of year, economic conditions, amenities and actual house/property specs are all very serious factors when considering a final price. Don’t forget to think with a cool mind and have an open ear to the professionals who have been there many times over.