5 Tips for Pricing a Home to Sell

So, you’re trying to sell your house. Congratulations! You’ve already done the most adult of adult things – you bought the place. Then you mustered up your courage and your funds to refinance your home. Then you refinished the hardwoods and fixed that squeaky door and generally made yourself into a diy-home-repair expert. Now, for the next step – passing your home onto the next generation of buyers.

But how do you know what to charge for this place? You’ve lived your life in this house. There’s sentimental value that can often cloud your understanding of monetary value. You want to offer a fair price, but you also want to get your money’s worth for all that time spend on DIY projects.

Here are a few tips for pricing your home.

1. Don’t Overprice Your Home

Buyers are scouring the internet for homes in their price range. If you list your home at a price higher than the rest of the market, people will notice – and give your place a wide berth. Don’t be too ambitious. List your home for the price it’s actually worth, and don’t try to leech a little extra money out of buyers. It probably won’t work.

2. Avoid Becoming Emotional

As previously mentioned, it’s a sentimental thing to sell this building that has housed your whole life for however many years. But try to keep your emotions in check. Take an honest look at your home, what it needs, and what it’s worth – then price it based on that evaluation.

3. Work on Some DIY Home Improvements

I know, I know – if you’ve lived in this house for any amount of time, you’ve already done oodles of work. But do your best to finish up those last couple projects before you list the home. Decide what specifically will add the most value to the property, and work on those things first.

4. Hire Someone to Complete the Projects You Can’t Finish

Does your roof need replacing? Do you need to tear out a wall? Chances are, you can’t do those projects yourself – but they will certainly add value to the home. Calculate the costs and decide whether it’s worth it to fix the big ticket items. If the value it adds is greater than the money coming out of your pocket – go for it!

5. Have the Home Appraised by a Professional

You can compare your home to others on the market; you can have a real estate agent give you an analysis; but at the end of the day, it’s probably best to get an appraiser to take a look at the house. Make sure you hire someone who has appraised other homes like yours in the area so they have experience with your particular market. Appraisers charge a few hundred dollars for their expertise, but it’s worth it to have a concrete value to offer potential buyers. It also helps with your pricing strategy so you can avoid the temptation to price too high or low. Ultimately, this will save you time and money when selling your home.