So you’ve made the decision to sell your Florida home. Now comes the hard part—setting a price that will get you the most value, but also attract home buyers and facilitate a speedy sale. Pricing a home can be tricky because there are many factors to take into account. If you price too high, your home may sit on the market for ages. Price it too low and you sell yourself short. These are some tips on how to price your home accurately and in line with market values.
Get a Home Evaluation
The easiest way to find out what your home is worth is to use a home evaluation tool. Most tools will give you an estimate of your home’s worth based on active listings of other homes in your area that have similar features to yours. This gives you a good starting point to see what the competition is like and to see where your home stands in relation to other similar properties.
Ask An Agent For a Comparative Market Analysis
While home valuation tools are great for giving you a ballpark figure based on the current MLS listings, there may be other factors that can drive the value of your home up or down. These could include recent upgrades, age of the house, available inventory, etc. A real estate agent can give you a more accurate estimate based on your specific market.
Don’t Assume All Renovations Equal More Value
It’s a common misconception that any renovation will add value to a home. However, not all upgrades equate to a high ROI. For example, new appliances, roof repairs and finished basements will likely add value to your home, while swimming pools, carpeting and expensive fixtures may not be attractive to potential buyers. This is something to consider when pricing your home.
Put Your Emotions Aside
Your home was probably your biggest investment and your pride and joy. It’s natural to be sentimental about your home, but this shouldn’t play into your pricing decisions. Be realistic about your home’s highlights and its flaws. Try to think about it from a home buyer’s perspective. Market trends, not feelings, should be the main consideration when deciding on an appropriate price.
Identify Key Issues
The longer you live in a home, the more you get used to its flaws. You may not even notice small issues that once stood out. Take a good look at your home and make notes of any issues that a new homeowner might find irritating or downright dysfunctional. You may even want to do your own home inspection to discover any major issues that might bring your home value down.
Pricing your home accurately can be tricky, but it doesn’t have to be stressful. A qualified real estate agent can help you determine an appropriate price that will attract buyers and prevent your home from sitting on the market too long.
If you’re considering selling your Florida home, The Real Estate Collection can help! Contact us here or call our Central Florida office at 407-656-7814 or South Florida office at 954-760-5885 to speak to one of our Florida real estate experts today! You can also fill out the form below and we’ll be in touch to answer all your home selling questions.
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