What Should I List My Home For?

Pricing Too High or Too Low Can Make Selling Difficult

Selling your home can be a stressful and time-consuming process. For many people, their home is where they’ve spent most of their lives, and leaving can stir up many emotions. Putting your property on the market can feel like a vulnerable prospect when people come around and scrutinize your space or decorative choices.

One of the most common issues people encounter when they sell their home is when the appraisal is less than what they think it should be. It’s important not to let these emotions cloud your judgment during the selling process if you want things to go smoothly!

Below are tips for navigating selling your home and determining a price that makes sense for you and the potential buyers.

Overpricing Is Dangerous

Listing your property for a higher-than-recommended amount can seem beneficial, but it can seriously backfire. Everyone thinks their homes are unique and potential buyers should pay a lot to live there, but it’s important to remember that what may be special to you isn’t necessarily special to everyone else.

When a house is overpriced, it risks sitting on the market for too long. The longer a home sits on the market, the less likely it is to sell. If the end goal is selling your home, you will have a difficult time.

Potential buyers may think a stale listing happens because there is something wrong with the property instead of believing it’s a special place to live. Listen to the professionals when they give you their recommended listing price! A house that is reasonably priced should sell quickly.

Going Too Low Can Hurt You Too

If your goal is to sell quickly, going lower than market value can seem logical to make that happen. However, underpricing a home can come with its own set of disadvantages, too.

Maybe your reasons for wanting to sell quickly are due to significant life changes, but to potential buyers, a house below market value can indicate serious problems. They may assume the place needs large-scale renovations, costly repairs, or have a history of undesirable circumstances.

Consider these factors when selling your property before listing it under the recommended market value!

What Factors Are Most Important When Listing a Home?

Understanding the factors that can affect the price of your home can help you better navigate the selling process. It may also help curb any unrealistic expectations that you may have, especially when selling a home that you’ve lived in for a long time. The housing market is ever-changing, but when pricing a property, appraisers look at the following:

  • Location
  • Overall Condition
  • History of Negative Events
  • Age
  • Number of Bedrooms/Bathrooms
  • Local School Districts
  • Crime Rates

Keep these features in mind during the selling process! It can help you better understand the whys and hows behind property pricing, so you’re not surprised by the number.

Want to Learn More About How to Sell Your Home?

Selling a home you’ve lived in for many years can be emotional. If you have questions about property listing prices in your area, contact realtor Linda Moore for more information!

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