Knowing How to Price Your Home Right

Selling a home is a big process. But making sure that the home is sold for the right price is an even bigger process. That is because so much of the getting the right value of a home is dependent not just amenities and the location of the home, but also on the current housing market trends.

The good news is there are factors that sellers can look at to help get a better gauge on their homes value. There are also tools available and websites that can help guide homeowners to get a good sales price range for marketing. Websites like UpNest can be quite helpful to get a basic value range.

Market Effect on Property Value

When the housing market is considered a seller’s market, pricing a home can become less difficult. That is because homes that are priced even a few thousand over the standard comfort range of value can sometimes sell if the demand is high enough. In a seller’s market, pricing a home a few thousand dollars over the comfort range of value, can sometimes stop buyer’s from even looking at a home. However, if the market is steady and does not lean into a heavy buyer or seller’s market, the pricing of a home can be a critical component to a sale.

One of the most difficult parts of selling a home in a steady market, is pricing the home right for a sale without over pricing or underpricing it. Doing this can deter a healthy market sale price. In this type of market, even overpricing the home by $5,000 dollars or more can stop potential buyers from even looking at the home.

Amenities and Features That are Considered Valuable in a Home

While many homeowners may have a set value in mind of what they want to get for a sale price, this usually has little bearing on the real value of the home. Home amenities that are considered important by average buyers include: location, home condition, amenities and market conditions. These are considered the primary factors of any sale price. That is why it is important to ensure that all these areas are evaluated properly.

While a homeowner may have things about their home, they consider most important, the general market has a set standard of amenities and criteria for value that are considered important. Many amenities can be considered extras. In some cases, certain amenities may prove to be a deterrent.

The most important amenities and features that are considered valuable in a home are: 

• Location
• Square Footage
• Open and Flowing Floor Plan
• Age
• Condition of Home
• Fireplace
• Finished Basement
• Multiple Bathrooms
• Master Bedroom Suites
• Enclosed Porches, Decks and Outbuildings
• Landscaping
• Newer Mechanicals
• Newer Roof, Siding or Windows
• Lot Size, Shape and Topography

In each of these value categories, homeowners can feel certain that a buyer would find these to be a top priority for selling a home. By understanding these areas of value, homeowners are better able to price a home right for sale. Also, they can learn how to feature the homes best amenities when selling it.

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