House of Mortgage

House of Mortgage

  • Home
  • About
    • About Us
    • Privacy Policy
  • Blog
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Government Loan Programs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
  • Apply
  • Looking for Homes?
  • Newsletter
  • Contact

Tips For Deciding The Value Of A Home

August 21, 2020 by Joanne Ahn

Tips For Deciding The Value Of A HomeHomes are more than just a building. They are filled with memories of children taking their first steps, holidays that were celebrated with family members and friends, and Super Bowl parties filled with smiles and cheers.

These memories are priceless; however, people cannot let emotions cloud their judgment when they are trying to sell a house. Instead, it is important to focus on the building. There are a few tips that everyone should follow as they try to figure out how much their home is worth.

Be Reasonable

The first tip is not to price a home too high out of the gate. While it is tempting to start high and reduce when necessary, the reality is that a price that is too high is going to scare off potential offers. It is better to start with a reasonable price that will get people interested. Then, if the offers start to pour in, there is a bidding war. The price will naturally take care of itself.

Upgrades Don’t Always Lead To A Higher Price

It is tempting to follow in the footsteps of TV shows and pour money into renovations that might lead to a large return on investment. The sad fact is that this is not always the case. Even though the homeowners might love the renovation, this doesn’t mean that a potential buyer will. Do not renovate purely to raise the value of a home. Upgrades can go out of style just as quickly as they came in.

Don’t Price Out Of Necessity

Never price a home based on a dollar amount that has to be reached. It is always better to price a home relative to what the market indicates. Nobody is going to make an offer on an overpriced home purely because that is how much money the seller needs to make.

Leave Emotions At The Door

Finally, do not price a home based on emotions. Yes, a home is a special place; however, remember that the home is on the market, not the memories. Instead, always price a home based on what the comparables are showing. This will lead to a smoother selling process, a higher price, and a bigger return on the initial investment.

Spread the Love!

Filed Under: Mortgage Tips, Real Estate Tagged With: Home Value, Mortgage Tips, Pricing Your Home

Joanne Ahn

Joanne Ahn


Mortgage Broker
Call (415) 999-2439
joanne.houseofmortgage@gmail.com

NMLS# 352117
House of Mortgage
  GET A QUICK QUOTE 
  LOOKING FOR HOMES? 
  I have off-market listings
you won't see here!  

How can I help?


0 / 180

Connect with Us!

Categories

Equal Housing LenderDRE #01887602, NMLS #352117 General Mortgage Capital Corporation DRE #01354058 NMLS #288699

Return to top of page

Copyright © 2023 House of Mortgage. All rights reserved.   Log In