Setting the Price for Your Home

Setting the Price for Your Home

When it comes to selling your PEI home one of the biggest factors in how quick it sells is setting the price.  It might sound like an oversimplification but price is one of the biggest factors in selling your home as quickly as possible.  That being said, it doesn’t mean that you have to give your house away.  Setting the price for your home will depend on several different factors.  The size, number of bedrooms, and of course the location will all affect the final price.  If  you want to sell quickly and still get top dollar then you need to sit down and work with your realtor to determine an aggressive pricing strategy.  Let’s look at how to determine the price.

Setting Your Price

One of the reasons it is so important to work with a realtor to set your price is that they are capable of taking the emotion out of the situation.  Homeowners can be emotionally attached, after all you have created some great memories there.  Sometimes greed can rear its ugly head too when it comes to price.  Your realtor can put together for you a competitive market analysis that will help figure out what your house is worth.

This analysis will look at other homes in the area that are comparable to yours.  Bear in mind the are comparable not identical, so the analysis will look at houses roughly the same size with the same number of bedrooms.  They will look at the final selling price along with how long the home was on the market.  From there you and your realtor will sit down and decide if your house should be priced on the low or high end of the comps.

Getting it Right from the Start

If you get the price right in the beginning then you can get it sold quickly.  The longer that your house sits on the market the more you’re going to have to lower the price.  Along with the price you’re going to have to get your property in front of as many potential buyers as possible.  Make sure that your price is in line with what other houses are selling for on the market.

The price that you finally settle on for your home’s listing will also depend on the time of year you decide to sell.  Home sales are more active in the spring and early summer months.  Take some time and do your research before you finally decide on your strategy.