There’s a number of things to take into consideration when pricing a property however, some of the more reliable indicators include the market and the property itself.
Here’s a breakdown of some determining details.
The market
Current market conditions (the economy, ease of lending, buyer activity etc.)
Recent comparable sales (of similar, neighbouring properties)
What’s currently on the market (competition)
The property
Recent renovations and improvements
Your property’s unique features and highlights (what ‘sells’ the property)
How buyers will view your property, not how you view your property
Consider all options and move strategically.
It’s also best to keep in mind that there’s usually only one shot in a period of time to take the property to the market favourably and win over buyers.
After all, a correctly priced property that engages buyers will help generate more interest.
More interest results in increased competition.
And increased competition helps drive more buyers and ultimately, the final price.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
