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What factors influence the sale price of your home?

| May 24, 2021 | Real Estate |

Preparing your home for sale in New York can be both an exciting and stressful time. Regardless of market conditions, pricing your home the right way can facilitate a successful sale.

Determining a fair and competitive price for your home is a lot more than slapping a figure onto your listing. Careful analysis of several factors can aid you in making an informed and confident decision about the worth of your home.

Market conditions

Strategic pricing of your home can play to your benefit in several ways. For one, competitive pricing may help you to secure the highest bid. A strategic price can also make a difference in winning the affection of interested buyers when there is a lot of competition.

You may want to assess the sale price of other, similar properties in your area that have recently sold. Even if you think you can get a substantially higher price for your home than what other homes have sold for, use caution when listing your property for an unrealistic price. According to Yahoo! Finance, consider the timing of your sale and strategize to determine the best moment to list your home. You will also want to consider timing if you need to adjust the price of your property.

Home-specific conditions

The condition of your home will obviously affect its appeal and overall value. If you suspect that aspects of your home could use a facelift or some minor repairs, consider addressing those issues before you list the property.

Other home-specific conditions to take into account include your home’s amenities. These may include anything from a home theater and smart home technology to solar options and energy-efficient windows. You will also want to account for your home’s location and any community amenities in the area it is in.