There are a lot of things to take into account before you put a price
on your home.
Where
is the location of your house?
Location is very important when trying to price your house. You might
have paid £50,000 for your home 5 years ago but if the crime rate
is up, businesses have left the area etc.. then the value of your
house might have dropped. Or you might have paid £50,000 for it 5
years ago and businesses might be booming, no crime rate, a sort after
area etc.. then the value of your house will be "sky high".
It is very important that you do research before you even think of
setting a price.
What
is the condition of your home
If your house and your neighbours house are both on the market at
the same price but your neighbours house looks more attractive and
is more updated who`s house do you think people will want to buy?
Your neighbours. It may pay off to spend a few quid doing your house
up a bit (that doesn`t mean you need to decorate the whole house).
Look around your home and see if there is any thing that could be
done to improve the value of your home. I.e. worn carpets, wood work
yellow and needing a paint, your garden is unkept and messy. You don`t
have to spend a fortune to make your home look appealing. Just do
it up where it is needed and the rest will sell itself.
Look
at your home through a buyers eyes
Do you remember when you bought your home? How much you wanted to
change it and add your own touches. You wouldn`t have given the pervious
owner a second glimpse to what she had done to it and neither will
the next owner. That's how prospective buyers will look at your home.
They won`t care how much time and effort you have put into making
it your dream home. They are looking for a house that they can make
their own. So don`t price your home on sentimental value.
Get
the experts in
Invite at least three Estate agents to visit your home and give you
their opinion of its likely selling price. Ask for a "comparative
market analysis" (CMA), which shows the prices of comparable
recently sold homes, on-the-market homes and homes that were on the
market, but weren't sold. This will give you an idea on competitors
prices.
Do
market research.
Go see an estate agent and pretend that you are looking to buy a house
in your area. Ask what prices they are offering then go and view some
that are similar to your home. Write out a checklist and tick off
what they have on offer i.e. fitted kitchen, double glazing, garage,
is the general condition better or poorer than your house ? When you
get back home compare your home to the ones you have viewed and make
your price from this. Or you could walk around your area and look
for house that are up for sale write down the address and make inquires
over the phone about the price.
Personal property
Personal property should be excluded from the selling price. Washers,
furniture, curtains, etc.. You can either ask prospective buyers if
they want to buy them or sell them separately to others. Or you could
include them for free this will be and added bonus to prospective
buyers and they will take the free over especially if they are first
time buyers.
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