Property Rhys Stone  

Home Prices When Selling Your House

property1With the tumultuous state of the home sales market over the last decade, there are new ideals when it comes to selling your home. This has led to one simple rule being dusted off and brought back to light: your home is only worth what someone is willing to pay for it. That being said, you should still be optimistic about selling your home.

Factors In Home Price

There are many factors that can affect the amount of money that you can ask for your home. Its age, size, bedrooms, garage, and general wear and tear are some of the most important things that come to mind.

However, local factors around your house are also very important. If you have every heard the refrain: Location, location, location, then you will understand how important it can be. Schools, stores, and the type people that live in the area will all influence the amount of that your home will command. It is all about matching the needs of your buyer to your home.

Being Realistic With Your Home Prices

Here are some ways to figure out where to start in terms of price.

Explore the areas online and in the newspaper where there are similar homes that are being advertised for sale. Look at them in terms of rooms and the overall size, and then use that as a baseline for your home.

Bring in at least three estate agents who have experienced selling a home like yours in recent months and have them perform and evaluation on your home.

Establish an absolute minimum price for the home where you will still be profitable and able to afford the home that you are seeking to move into. This can help you gain valuable perspective on your potential home price.

Keep In Mind Stamp Duty

If your home is going to cost a certain amount, you have to see what bracket of Stamp Duty fees you will be paying. It is always worth adjusting the price of the home down slightly so that you can save thousands on your duty fees. Conversely, you can price your home a fair amount over the threshold level so that you can recoup fees, but always figure out how the fees will work out beforehand.

Housing Indexes

Another valuable source for home price information is housing indexes. These gather information about your home and establish what they consider to be a fair market price for it based on a variety of factors. It is important to realize that they each have different criteria that they use to gauge your home’s worth, so you need to work within that framework and not simply use the highest price.

Estate agents

If you decided to sell your house through estate agents such as estate agents in Newbury you already know that is it important to get at least 3 estate agents that evaluate the value of your house. This will help to get a more realistic view as some estate agents tend to give a higher price for your house just to get business with you. However, you can also ask for a list of history of houses sold by each estate agent in your area. This should also help you to realize the realistic price you can expect to get on your property.

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