Rules to Follow When Pricing Your Home

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It’s time to move on. You’ve decided to sell your home and embark on a new adventure.

Unfortunately, potential buyers don’t care about how long you obsessed over choosing the perfect bathroom tiles or the number of carpenters you interviewed to make the perfect built-in bookcase. To the buyer, those items may not matter to the value of the home, even if you think they should.

When it’s time to sell, you have to price your home right, using tangible factors. Here are six rules to remember:

1. Price is king
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 Home Seller Mistakes

  1. Skipping a home inspection. Depending on the age of your home, scheduling a pre-listing home inspectioncould save you a lot of time and aggravation. You can address issues on your own time and budget before negotiating with a buyer to fix problems.
  2. Skimping on your sales prep. While you may be tempted to “test the waters” and put your home on the market without painting it or making minor repairs, your home is likely to languish on the market and get a reputation for having a major problem. A thorough, professional-level cleaningshould be your bare minimum seller prep. Your eventual sales price is likely to be lower if you don’t sell within the first few weeks after you list your home.
  3. Choosing the wrong REALTOR®. Instead of picking a REALTOR®who’s a friend of a friend, a relative or perhaps someone who’s great at working with buyers, take the time to pick a REALTOR®with an excellent reputation for listing homes. Your payoff will be much larger if you list your home with a REALTOR® with local market knowledge and sales expertise.
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Smart Financial Planning Must Come Before Homeownership

financial planningWhether you’ve got house envy about your best friend’s new place or just want to start building equity instead of renting, the first time you think about becoming a homeowner is the moment you should start financial planning.

While it may be tempting to begin looking at homes for sale, you need to be financially prepared so you don’t fall into the trap of identifying your perfect home—and then realizing you can’t afford to buy it.

Casual visits to open houses or random Internet searches are fine to see what homes cost where you want to live, but you will need to start working on your finances, too.
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