If you are planning to sell your house, you should know its worth. Setting the right price is one major aspect of your marketing plan regardless of whether you do the selling yourself or you hire an agent. The agent can easily run a market analysis but you don’t want to be blindsided by the agent’s recommendation alone.
A house’s location plays an important part in its value. A property owner can’t get away with this one. If your house happens to be in a desirable location, you can always get a higher price than you can for the same house in less desirable neighborhood. Houses near to schools, shopping malls, restaurants and coffee shops, and transportation areas are expected to be more expensive.
A well-maintained house has a better chance of selling for more than a run-down house in the same location. No one wants to buy an expensive house with less than perfect heating system, with leaking roofs, with broken windows, or with poor interior. Keeping your house in top condition will give you a good return of investment should you decide to sell.
The number of bedrooms and bathrooms, presence of a swimming pool or indoor gym, square footage of the house, modern kitchens and bathrooms can also increase your house’s value. Obviously, a six-bedroom house costs more than a two-bedroom house.
Comparable and Market Condition
Comparable houses can also be used as basis for your house’s value. Check the recent sold houses in your area and take note of the houses’ price which is similar to yours. Your asking price should be within the same range, otherwise, your price will be considered as too high.
As soon as you have decided on your asking price, you can focus on your marketing strategy to find potential buyers.