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Common Mistakes When Pricing Your Home

Tom Ireland • May 16, 2017

Deciding upon the right asking price is key to getting your home sold. It’s a balancing act between getting what your home is worth and pricing yourself out of the market. Here are five mistakes people often make when pricing their home. Avoiding them will help you get it right. Relying too heavily on what other […] The post Common Mistakes When Pricing Your Home appeared first on Andy Schildhorn, PREC.

Deciding upon the right asking price is key to getting your home sold. It’s a balancing act between getting what your home is worth and pricing yourself out of the market. Here are five mistakes people often make when pricing their home. Avoiding them will help you get it right.

  • Relying too heavily on what other homes have sold for — While this can be a useful indicator, you can’t be certain that other sellers got it right.
  • Including the cost of recent renovations in your price — It is rare to recoup 100% of renovation costs when selling.
  • Deciding on a price based on what you’d like to buy — Your price should be based on current market conditions.
  • Making the wrong comparisons — Don’t compare your home with one of another type or in a very different neighbourhood.
  • Starting high “just to see what happens” — An inflated price can alienate buyers.

For more details on these tips, click here.

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