The price you ask for your home is the most important decision you will make when deciding to sell your home.
It is this simple. A properly priced home should sell quickly. An overpriced home may not ever sell.
First let's review what factors do NOT affect the value of your home:
- The profit you wish to make from the sale. The buyer doesn't care about your profits. They only care about getting a home for a fair price.
- The amount of money you've spend on improvements. Although the condition of your home does affect its value, you often do not get 100% return on investment on home improvements. This is especially true if the improvements or upgrades were based on your own personal preferences.
- What you paid for the home. Buyers do not don't feel sympathy for you if you overpaid for your home. Remember, they just want to pay a fair price at the current market value.
Now let's consider the conditions that DO affect the value of your home:
- The status of the current real estate market. Are there a lot of similar homes for sale in the same area? Are prices dropping in your area?
- Hard facts such as the size, number of bedrooms, number of bathroom, square footage, and conditions of your home.
- Desirability factors such as location, schools, and amenities.
- Selling and listing prices of comparable homes. This is the most important factor in determining the value of your home.
Whether you are buying or selling a home, George Maynes will always work in your best interest while helping to make your real estate transactions as stress free as possible.
George Maynes and his team are excited to assist you in all of your real estate transactions. Please contact George Maynes for a FREE (no obligation) consultation if you plan to buy and/or sell a home. We will provide you with reliable advice so you can make informed decisions.
Prudential Fox & Roach, REALTORS®
2451 Fairmount Avenue, Philadelphia, PA 19130