Setting the right price for your home right off the bat is important. The right price can quickly attract buyers, while the wrong price can leave your home sitting on the market. The best way to go about setting the price for your home is to hire a Waltham Real Estate Agent. Waltham Realtors can assess your home, compare it to others, and then come up with a fair price they think people will flock to. However, if you’re looking to understand on your own how much your home is worth, here are some ways to assess.
Do Pricing Research
You can start your pricing research on websites that have a pricing calculator. You will plug in your home’s address and it will give you an estimate of what your home might be worth. These calculators are based on the square footage of your home and the real estate data they have collected. Since those estimates are based on more general factors, they aren’t always the most accurate, however, they can still give you a base to start.
Know Your Neighborhood Selling History
Another way to accurately determine your selling price is to find out what similar homes in your neighborhood sold for. Look for homes that have the similar square footage, number of bedrooms, number of bathrooms, outdoor amenities, etc.
When working with a Waltham Realtor, they will be able to take this a step further by looking at their database to see what these homes were originally listed for and then what they were officially sold for. This helps them to see why some homes might have sold for less than they were listed for. Your Waltham Realtor can assess why price reductions were made and base your home’s estimate on those factors.
Assess the Competition
In addition to researching recently sold homes, you and your Waltham Real Estate Agent can also look at other properties that are currently for sale in your area. These listings are your competition. Because some listings don’t have the best photos or information, your Waltham Realtor can go take a look at the competition and see how your home might be better for buyers.
Understand The Current Market
Understanding the housing market where you live can be a big factor in how you price your home. If you’re in a seller’s market, that means there are more buyers looking than homes on the market. In this case, you could price your home slightly higher than market value knowing that buyers are desperate and are likely to pay more for your home. On the contrary, if you’re in a buyers' market, where buyers have the advantage, you might want to price your home a little below market value to get buyers more interested.
You can find what type of market your area is in online, or, ask your Waltham Real Estate Agent and they’ll give you some insight into the current market!