Determine the Price
How Much is Your Shuswap or Salmon Arm Home Worth?
You don't want to set your asking price too low or too high. Setting it too low means you could miss out on thousands of dollar that a Buyer would have willingly paid. Setting it too high can scare away serious Buyers and leave your home on the market for too long.
Fair Market Value
This is where you want to price your home and it simply means the maximum amount of money that interested Buyers are willing to pay for your property - and remember, Buyers will comparison shop!
There can be multiple factors that will determine the market value in a Buyer's mind:
- Street appeal, condition of the exterior, yard etc
- Emotional appeal inside, lighting, condition of the flooring, paint, cupboards etc
- Number of bedrooms/baths
- Size of the yard
- Proximity to schools, playgrounds, parks, shopping, recreational facilities etc
- Current job opportunities/economic factors in the area
- The surrounding neighbourhood
- The location: on a busy street, quiet cul-de-sac etc
The list is long and detailed. Some of these things you can improve on but many you can't change so it is imperative that you are properly priced in relation to other homes that are your direct competition.
First Impressions Count
It's nearly impossible to replace the initial flurry of interest and activity a new listing will generate. Once your home is on the market anyone looking for a similar home in that price range will want to view it. You want to be properly priced to take full advantage of this initial wave of excitement.