If you’re about to begin the process of selling your Durham Region home, or if this is simply something you’ve been considering, then you’ve probably asked yourself the question, “Well, how much can I get for my home?”
Of course, this is a difficult question to answer! The short answer is that this depends on a wide variety of factors, particular to each individual property. However, if you’re feeling particularly lost in regards to how to price your home, we have a few tips that can help steer you in the right direction!
Know Your Home’s Worth
The very basis of understanding what to price your home comes from what exactly your home is worth. That being said, this isn’t always any easy thing to figure out. Some things that will affect your home’s worth include: location, lot size, home size, age of home, interior and exterior upgrades/renovations, and more.
Typically, an older home will sell for less. Consequently, a waterfront home in Clarington with renovated, modern layout will likely sell for more. That being said, arguably the biggest factor that dictates a home’s worth is its location; a home that is not in top shape might still fetch a high price if it is in a particularly desirable neighbourhood. A home located a short distance away from shopping and dining opportunities is also something that appeals to buyers.
How do you best determine your home’s worth? It’s easy. Take an in-depth look at the real estate market in and around your area. By seeing what homes are listed for—and more importantly, what they have actually sold for!—you can make an informed decision about how exactly you should price your home. Looking at homes similar to yours, and what your home has sold for in the past, will be the biggest help to you!
Price Competitively—But Don’t Undersell Yourself!
Now, it is important that when you look at active listings and recently sold homes that you look at this with a critical eye. In short, be honest about what properties are most similar to yours.
It is important that you do not price your home too high, otherwise your property will sit on the market for too long, and you likely won’t have any worthwhile offers. This may result in you lowering the price of your home after some time in order to attract potential buyers. It’s not a very fun situation to be in!
However, pricing your home too low will also be disadvantageous to you. After all, you want to get the best price for your property. It’s a delicate balance!
As a seller, you might want to get your home professionally appraised. However, a home appraisal is usually done after your property is listed, as this is generally done at the buyer’s request—and on their budget.
Get an Agent’s Advice
If you’re still unsure of your home’s value, then you might want to get a professional opinion! Dan Plowman agents can help you price and sell your home. We even offer a free market analysis service—all you need to do is contact us today!
Trustworthy and experienced, our agents have the necessary Durham Region market knowledge to sell your home at the best price. It’s quick and simple!
Contact us today to help you with your next home
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