5 Criteria for Pricing a Home

Dated: 05/30/2020

Views: 143

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

Location

Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

Date of Sale

It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

Home Build

Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

Features and Upgrades

Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

Sale Types

Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.

Latest Blog Posts

How to Improve Your Indoor Air Quality

Improved air quality in your home is essential for your overall health and well-being. Every time you open a door, outdoor emissions seep into your home. Other pollutants come from everyday building

Read More

5 Surprising Paint Colors to Avoid During COVID-19 (and 5 to Try Instead)

Of all the things stressing you out right now, you probably haven’t stopped to think about the colors of your walls. But colors (especially the ones you look at everyday) can have a huge

Read More

Organic Eating on a Budget

Organic food usually tastes better and is better for you, but it can also be very expensive compared to non-organic products. Organic food can cost nearly 50 percent more, thanks to the extra labor

Read More

Saving for a Down Payment: Where To Keep Your Nest Egg

Saving for a down payment is one of the first steps to buying a home --apart from getting pre-qualified for a mortgage. Starting your savings also requires quite a bit of commitment. It takes

Read More