Put Your Home on the Market at Right Price

Article excerpt

WANT to know what your home is worth?

The answer is simple: it's worth what the market is willing to pay for it.

Pricing your home is a fine art, and getting it wrong can be extremely costly.

If you overprice your property, it is unlikely to generate enough activity to sell in a reasonable timeframe, lowering the end sale price. But if you underprice it you will be inundated with buyers looking for a bargain.

The key to correctly pricing your home is to do your research and listen to what the current market is telling you.

Research recent sale prices of similar properties in the area and objectively compare them to your own home.

The easiest way to do this is to ask your real estate agent to provide a comparative market analysis, which gives you a summary of recent sales in the area.

A qualified property valuer can usually provide a more accurate price estimate, as they generally have more detailed information about similar homes that have sold, but they come at a price.

If you're not going to get a qualified property valuer, it's wise to ask more than one real estate agent to give you an appraisal. …