How Do I Set an Asking Price for My Home?
Selling your home is an exciting process but one of the main areas sellers struggle with is setting their perfect asking price. In this blog we are going to be discussing how to agree on the ideal price for your home.
Nine times out of ten, sellers believe their property is worth more money than it actually is. The trick is to do your research… There are plenty of factors that can affect the asking price of your property...
Postcode – One of the main affecting factors is your Postcode, your asking price will all depend on the regional average property price. This is different throughout the UK with the South having the highest house prices.
Size – This is an obvious factor, with bigger houses achieving a higher value. Although the actual number of rooms is also a highly considered aspect. Even if your property is smaller, if you have a large number of rooms or converted rooms this can definitely work as an advantage.
Wear and tear – Even though property age matters, you can have an older property which has had great upkeep that can earn more money on the market than a newer property that has not been looked after. Take into consideration the overall wear of your property, is there any improvements you can complete?
To agree on a high asking price, you must first make your property look it’s best. Research high value home improvements to really boost the amount. Even a lick of paint here and there can add some crucial value.
Now it’s time for the valuation! It’s really important to make sure you pick the right estate agents for the job. Look online, ask friends and family, do your research… The average amount of valuations is 3 so you should pick 3 suitable estate agents who have sold properties like yours before. Don’t be surprised if their valuations are different it’s up to you to create the middle ground.
When choosing an asking price, you must be prepared to go lower, so pick an ideal figure then raise it in preparation for lower offers. That way you won’t be disappointed by a much lower figure than you anticipated.
Don’t forget you have the final decision and if you don’t feel happy with an offer then don’t accept it, sometimes playing the waiting game really pays off.