How to get the price value you want for your home
So, you’re looking to sell your home at the right value and you are looking at lots of different things. From choosing how to sell your property to the kinds of repairs you have been advised to make, there is a lot going on.
When it comes to your home value however, this can be a stumbling bloc. It happens because you will here the common phrase; “you’re home is only worth what someone is willing to pay.” In a lot of ways this is true.
But what you want to do is find the best possible value for your home and then sell it as close to that as you possibly can. It makes sense, right. You want to sell your house for the best possible value that it possibly can sell for.
So how do you go about achieving that? Here is our mini guide to getting you the house value YOU want!
Research, research, research!
One of the big mistakes that people make is not understanding their home value based on the local market place. Yes, there are national statistics as well as regional, but the big one you want to be looking out for is the local marketplace, and by local, we mean, local.
Check for homes for sale down the street that you live on. Look for homes in the block where you live and then look for any homes in a similar neighbourhood. From there you want to narrow your research to homes that have sold in the last six months and see what their value was. By doing this you get a realistic expectation of the market place.
Of course, you want to check out what kinds of homes are for sale and have sold so that you have a fair comparison for your own home.
Now target your pricing
You understand what is going on in the local market now; possibly better than those selling a home in the local real estate market. Now it is about targeting your pricing to make sure that your strategy is in line with what you want to achieve.
How do you do this? Simple. Take the number that you are now comfortable in your head with after all the research. Then take into account sellers fees, taxes, legal fees. Add that to the figure that you want for your house, and we mean REALLY want for your house. Now that total is figure is where you should target to sell your home.
Understand if the marketplace is willing to pay for that. If it is, great. If it isn’t then you may want to consider either taking a hit on the property or riding out the market until you can get the value that you want.
Don’t spend unnecessarily
The worst thing you can do is spend money unnecessarily on your property to bring it up to a certain standard. Is that what the market is crying out for? Are you really going to get the value back in the short term? No, in the long term yes.
Basically, if you’re looking to sell your home fast, you want to be strategic where money is spent and understand the value that you are going to get from your property in the kind of market you are in.
These basic tips will help you generate the kind of interest and value that you really want for your home.