A large factor in this equation is price. Price is the number one factor that most home buyers use in determining which homes to view. Although the price is set by you, the value of the home is determined by the buyer. Your REALTOR® can help guide you to an asking price that will help you meet your own goals, plus attract buyers
What Can Affect Your Asking Price?
Urgency. Do you need to sell your home quickly?
Competition. Are there just a few or many homes available in your price category and area?
Available financing. Does your home come with an assumable loan that is below today’s rate? What are the current home loan interest rates? What financing alternatives are available for your home and area?
Competitive Market Analysis. Do you know what similar homes in the area sold for within the last six months?
Expenses. What are your selling costs?
What Doesn’t Affect Your Asking Price?
Original cost. Your price is determined by today’s market.
Personal attachment. Buyers will act on their emotions, not yours.
The cost to build the home today.
Neighbour’s claims. Don’t listen to what your neighbours tell you is fair market value for your home. OTher homes in your neighbourhood may not be as similar as you think.