We may think we know how much our homes are worth, but with an ever-changing housing market, it can be challenging to keep up!
When it comes to valuating our houses (to put on the market) having the professional help of estate agents Lucan is the logical method to uphold; knowing all the ins and outs of the property market, it’s our best option when it comes to putting a price on our beloved homes. If we fail to value our houses correctly, we could be making a huge costly mistake; we risk under-valuing at a loss to ourselves or over-valuing for the longevity when our homes gain little or no interest at all!
- Over-pricing – Ok, so if we happen to overprice our house and it doesn’t sell or worse still lacks any kind of interest at all, we could always drop the price, right? Wrong! Dropping a price on your house due to lack of interest or sale creates a whole heap of other problems, it’s sending out a wrong message to buyers e.g.,/ perhaps the property is not worth looking at, or it might be undesirable or have things wrong with it, and to buyers this sort of message can be very off-putting.
- Under-pricing – Why risk it? You could be setting yourself up for major loss unnecessarily. Ok, you may have a quick sale on your hands which is all well and good but why chance a loss when you could be generating maximum value for your home. Also, once your house is valued and you see the market growing, you may be advised to price it higher, it’s not a recommended move to make once a home is already listed. A buyer’s market will not appreciate a seller adding value to a property at a later date; it shouts miss-trust!
What’s right for you?
We have to consider what is right for us, are we looking for a quick sale to move onto a new life event sharply, or are we able to wait patiently for the best price? These considerations make a significant difference, but what’s right for one person may not be ideal for the next, it’s often about personal matters and finding what’s right for you.
Study the market and size up the competition.
Be sure to grasp a basic understanding of the market in order to make appropriate decisions and ensure you check out the neighbouring competition, what are local houses selling for? The area plays a huge part when it comes to valuating houses.
If a house is listed correctly and manages to generate quite a bit of interest (from multiple buyers) a seller has the chance to turn the tables and ask for the best price.
Requesting an estate agent to help value your house and put it on the market ensuring you have all the latest info you require to get the best sale on your home!