Setting a suitable price for your home is a crucial part of the selling process. Real estate properties can remain unsold because the owners have set exorbitant prices. At the same time, it is unwise to lose a large amount of money just to sell your home more quickly. It’s important for sellers to find the right balance.
Asking Prices
You can estimate the value of your home by looking at newspaper ads for similar properties. However, this usually isn’t the most reliable method. Owners may attempt to sell their properties at any price. Some people need to move quickly because of financial problems.
Recent Transactions
A more effective way to determine your home’s value is to look at the selling prices of “comparables.” These are equivalent properties that were recently sold. They must be similar in design, condition, size and location. Such properties should also offer most of the same amenities as your home. A local real estate agent can create a list of comparable homes for you to review.
The next step is to select one comparable property that resembles your home more closely than the others. Compare its neighborhood, appearance and features to those of your house. You can make lists of the advantages of each property. This will help you set an asking price that is slightly higher or lower than the comparable home’s value.
Exceptional Homes
Certain homes feature unique architecture or building materials that set them apart from other real estate in the area. A house may also have historical significance. In this situation, the best approach is to hire a reputable real estate appraiser.
Professional Advice
As a Mississauga real estate agent with more than 25 years of experience, I have been helping people price their homes for over 25 years. I use my extensive marketing expertise and real estate connections to sell each property for top dollars. If you need to sell a home in the Mississauga area, please contact me today at 905-502-1500 or visit my Website, www.mcdadi.com.