Whatever the reason you have for selling your house, you won’t want to settle for a price which you didn’t keep or didn’t expect to get in return of selling your property. Selling a house is not usually a quick decision to take; you have to be very considerate and wise to proceed with the transaction.
While many people are of the view that new houses sell fast, providing good amount of money for the seller. On the other side, there are others who think that if you hold that property for some time, chances are the rates would shoot up giving you more value for your money. In either case, what’s the primary thing? You have to price it right! Let’s understand some quick tips on how to price you house so that it sells like a hot cake:
Fix Your Base Price
This basically means the price below which you cannot sell off your property. Why’s that important? That’s because if you don’t know the base price then you won’t be able to fix a price which covers your purchase cost and any additions which you’ve made. Consider all the costs you have incurred on your house and fix a base price.
Do Your Research
Before just straight away jumping on fixing the price, have a look at what rate others are selling. Check out the newspaper classifieds or run an online property search to know what’s the average selling price of similar properties in your area. Never get confused with the active listings, because they have not been sold yet. They’re just competitors who have listed their price. Make a note of that too but don’t draw your conclusions on that.
Consult a Professional
Although this will cost you, but this would also make sure that you fix the right price which covers your costs, gives you profits and recovers the agent’s commission. Taking help from a professional will help if you don’t have much time to do research or else you’re not that much aware of the market conditions.
On the contrary, if you’re not taking any professional help, then you can set a price lower as it would not include commission charges.
The Magical Price
Some prices have a psychological effect on the buyer’s mind. For example, $99 grabs much more eyeballs as compared to something listed with $100. Fixing a magical price like $399,995 will grab more attention than $400,000. Such prices will also come under range searching, so you’ll have a perfect chance to be noticed.
Think as a buyer, loose that emotional attachment for some time and think what else you would want with an asking price like that from the property. This will give you a better idea on how demanding your house is.
Apart from these there are many other factors like, the time of the year, interest rates and the law of demand and supply. If there are several properties like yours, then you’ll have a hard time getting your price.
But make sure, don’t get against the market, work along with it and you’ll get the right value of your house.
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