Are you thinking about selling your Columbus property? If so, you’ve likely wondered how much you should ask for in the initial listing price and what you’re likely to receive after the sale finally closes. Of course, what a seller wants and the price a buyer is willing to pay are almost always different, so below we’ll share a few pieces of advice to consider when determining the value of your home.
Research, Research, Research!
The first step in establishing the value of your home is to take a look at recent sales of similar homes in your neighborhood and throughout Columbus. While every home is different, this will at least offer an idea as to what buyers are paying for a similar house or property. Another excellent idea is to take a look at our listings page to see what similar homes in your area are listed at. Other sellers are essentially your competition, so it’s helpful to understand what they’re asking for and if your expectations are in line with market realities.
Welcome Criticism with Open Arms
While you might think that the color scheme in the kitchen and the choice of wallpaper in the bedrooms are beautiful, others might not agree. Being open to criticism about everything in your home is an excellent way to see what points potential buyers might lean on to reduce the home’s value in their minds. When you’re selling your home, you’ll need to think like a buyer. Does the kitchen or bathroom have older fixtures that should be replaced? Are the countertops granite, or are they the original laminate counters from when the home was built? Should the carpets be replaced? Having one of our real estate agents perform a home evaluation will allow you to gain a better understanding of what a competitive listing price for your home would look like.
Avoid Making the ‘Overvaluation’ Mistake
In a recent study, more than 60 percent of home sellers were indicated to have “unrealistic expectations” about the value of their home and property. Overvaluing your home is easy, especially when you have poured hundreds of hours of ‘sweat equity’ in to renovations and improvements. Most homeowners also have an emotional attachment to their homes, which tends to inflate the value in their minds. Unfortunately, buyers share none of the above sentiments and are only concerned with what they are receiving when they make a purchase.
If the prospect of pricing your home, staging it for sale and going through numerous rounds of negotiation on your own seem daunting, don’t fret. The Columbus real estate experts at The Raines Group are here to assist you with the sale of your house, condo or other property. Contact us at (614) 855-8700 or by email and we’ll devise a marketing plan to ensure you aren’t leaving any equity on the table when you sell. In the meantime, you can download our eBook “The Definitive Guide to Selling Your Home”, which has a number of handy home sales tips.