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How to Determine The Right Price of Your Home For a Pain Free Sale

Determining the right sale price of a house is not rocket science. However, most sellers fail to evaluate the correct price that leads the house to stay in the market for long. There isn’t any set formula to make the right estimation, but one can certainly decide these price based on the factors like the facilities, featuresand so on. 

 

Setting a price too high or too low can certainly affect the sale of your houseA price that is too high may scare your potential buyers whereas a price too low may land you in a huge loss and regret. 

Neither taking a decision in hurry would give you the desired price, nor will your emotions attached with your house be converted into dollars. So, what we need here is correct and calculative analysis of the market so as to decide on the right price for the home. The price which will go in accordance with the features and the facilities of the house will have the potential to attract maximum buyers.  

Before we jump onto determining the price, let us first look into the factors that would help us decide the accurate price. 

  

Factors to Determine Your Home's Value 

Factors to Determine Your Homes Value

 

Size: The price of your house will differ depending upon the size of the complete habitable areaThe bigger the size, the more the value. 

LocationThis feature highly influences the sale price of the house. If your house is located in a posh area, you are likely to get a higher price. Malls, schools, and parks in the vicinity of your house may prove to be an added advantage whereas industries, or the house located on a busy road may significantly affect the price.    

Building typeWhat kind of home do you have, closed, open, or semi-open? Do you have a well-furnished façade or not? These are also some of the characteristics which will influence the final price of your house.  

Number of rooms: This also forms one of the major factors in setting the price. No matter the house is small or big, extra rooms are always a cherry on the cake.    

Age and conditionTypically, the homes that are newer will get valued more than those that are old. Many buyers may also pay you top-dollars for a move-in ready home.  

Upgrades and Renovation: A well-furnished home will bring you more buyers whereas the house that is aesthetically less pleasing can shoo away the opportunities. So, renovations or a great interior in home do weigh more on the buyer's budget.  

The above outlined are some of the factors that may impact the price of a house. Now, let us dive right into determining the right price of home.       

 

Market Analysis

Market Analysis

Analyzing the market is of utmost importance. When we say analyzing, it means checking the supply and demand ratio in your suburb. For instance, the local market in the vicinity of your house may have the potential to affect the price of your home.  

To determine the actual sale price, you may check out the national housing industry to know how is it performing in terms of home sale prices. Keep a track of the local news and the updates by the real estate agents and the property market leaders. Staying updated with the ongoing trends, demands, and the news can give you a broader view and bring in clarity.  

  

Look Around The Neighborhood  

 

The right price is the price that buyers are willing to pay. Thus, it is interesting to keep an eye on the homes that have been put on sale and the ones that are already sold. As already mentioned, pricing a home depends on the market’s supply and demand, keeping yourself updated with the latest information and staying aware of the houses sold in your area in the recent weeks. All these points will help you know the value of your house and give you an advantage over the competitors.  

  

 

Check out Online Websites

Check out Online Websites

 

This one is another way to keep yourself updated with the current market pricesYou may explore online home listing websites such as realestate.com.au. Search for your suburb and check out the houses listed there. In this way, you will easily be able to analyze the prices of homes in your surroundings.   

  

Hire a Real Estate Expert  

 

When you are done with your market search and you have an estimate of your house, reach out to the real estate property experts for guidance the final check. Consulting the real estate agents will prove to be beneficial because they are the ones who are updated with the market value and experienced in getting their customerthe right price. But not every other real estate agent will help you get a better deal. If you wish to get a lucrative deal on your house, reach out to the best real estate agency in Lynbrook or your nearby suburb. Local agents are well aware of what goes in the marketSo, if you also want to the right time, and the right price to sell your home, book a free appraisal with Jasmine Real Estate, and get your property evaluated.  

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