3 Things To Ignore When Pricing Your Home

Dated: 02/05/2016

Views: 1599


3 things to ignore when pricing your home

There are many factors that go into pricing your property. Your Texas REALTOR® can explain them in more detail, but here are few factors that don't have much weight in the value of your home.

What the Internet says. It's fun to type your home address into a price-valuation site and see what it says, but you can't trust such sites to give you an accurate number. These sites don't know the current market the way your Texas REALTOR® does, or take into account what a buyer in your area is actually willing to pay. Sometimes they're even too low since the site doesn't know about improvements to your property.

What you spent on your kitchen remodel. While upgrades definitely appeal to a prospective buyer, they won't necessarily fetch you a higher price. That's because many renovations don't give you a dollar-for-dollar return on your investment. Check out costvsvalue.com to get an idea of the projects that have the best resale value. Then, talk to your Texas REALTOR® about what he or she knows about the desirability of these projects within your market.

What income you need from the sale. You can't price your home with target proceeds in mind. Buyers don't know-and don't care-if you've got a financial goal, and they are turned off when a listing price is much higher than the property is worth.

Properties that are priced improperly tend to stay on the market for a longer period of time. That's why you should hire a Texas REALTOR® to come up with the best listing price for your home. He or she has access to the most accurate data about your market, and interacts with buyers regularly enough to know what they are looking for.

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