5 Biggest Myths about pricing your home for sale

Are you curious about sold house prices in your neighbourhood?  Why do some homes seem to sell for so much more than others?  There’re many misconceptions about pricing your home.   Here are my 5 biggest myths about pricing your home for sale.

I. I should get the same price as my neighbour 

Homes vary significantly in most neighbourhoods.  Lot and home size, layout, and home improvements all will have an impact on the value of your home.  Your home is unique and so is your neighbours.

II.  I will recover all my home improvements when I sell

Not all home renovations add value to your home.  Don’t count on recovering all your costs of your reno when you sell your home.

III.  If I price my home high, I will get more for my house.

If you price your house too high you may have fewer buyers interested and  actually get a lower price than if you had priced at market

IV. Pricing my house low-  will guarantee I get lots of offers and create a bidding war?

Many buyers are sick and tired of bidding wars.  If they think you have priced for a bidding war, they just might pass on your home.

V.  Why not price at a ridiculously high price and see if anyone bites?

If your house is priced too high, it may not sell quickly and sit on the market. The longer it sits on the market, the more concerned buyers are with why it has not sold. They may pass it by just because of this concern.

There you have it.  The 5 biggest myths about pricing your home.  Price right and you’ll be very happy with the results.