Determining the ideal sale price for your home is one of the most important decisions when selling real estate. Setting the right sale price can make the difference between selling quickly and languishing on the market for months. As a home seller, you’ll want to price your property competitively but also maximize your profit. Here are some tips for researching and setting the sale price of a home.
Key Takeaways:
- Research similar homes that recently sold in your neighborhood to estimate your home’s value
- Hire an appraiser to provide a professional valuation of your home
- Consider hiring a real estate agent who can advise you on competitive pricing
- Make updates and improvements to potentially increase your home’s sale price
Research Neighborhood Sales Data
The first step in pricing your home is looking at what other similar homes have sold for in your neighborhood recently. You can find this neighborhood sales data through real estate sites like Zillow.com and Redfin.com. Look for homes that are comparable to yours in square footage, number of bedrooms/bathrooms, lot size and other features. The sale prices of these comparable properties will give you a good idea of the current market value and realistic sale price for your home. Aim to price your home in line with these similar neighborhood sales.
Hire an Appraiser
While you can get a general estimate from online sales data, hiring an appraiser to assess your home will provide a professional valuation. An appraiser has extensive real estate valuation experience and will conduct an in-person inspection of your property. They will consider all of the home’s specific attributes and current market conditions to determine a fair market value and recommended list price. Though hiring an appraiser costs a few hundred dollars, it’s worth it to get an accurate assessment.
Make Updates to Increase Value
Some improvements and updates to your home prior to listing can potentially boost your sale price. Things like kitchen or bathroom remodels, freshening paint and carpets, fixing any issues, and landscaping curb appeal can make your home more appealing to buyers. Consider if any affordable renovations could increase the value and allow you to list your home at a higher price point. Cosmetic changes can have significant ROI.
The key to pricing your home competitively is gathering the relevant data and input from neighborhood sales, appraisers, real estate agents, and your own value-boosting improvements. Aim for that sweet spot between squeezing out top dollar and limiting how long the home sits on the market. With the right sale price, you can ensure a quick, profitable sale. Using a well-informed pricing strategy will help you successfully sell your most valuable asset at fair market value.
Consult a Realtor
Experienced realtors like Chris Schmidt and the team at Your Home Sold Guaranteed Realty - Chris Schmidt Team are extremely knowledgeable about home values in your local market. An agent will look at your home’s features and comparable sales to recommend an ideal listing price. They can advise you on competitive pricing strategy to maximize interest and drive buyers to your home quickly. Realtors have insider expertise on achieving the optimal sale price.
Find the Sale Price of a Home – Call Chris Schmidt
As leading Houston real estate agents, we have the market insights, data, and expertise to provide houseowners like you with an accurate assessment of your property’s current value to sell it for top dollar.
Connecting with us ensures you receive:
- A customized Comparative Market Analysis pulling the latest comparable sales.
- Precise pricing recommendations based on current market conditions.
- Guidance on how to prepare your house to maximize marketability and achieve top dollar.
We’re here to provide the clarity and confidence you need to price your Houston area house right. Let’s connect to discuss your house’s value today!
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