Are you getting ready to sell your home in London Ontario, but don’t fully understand how the asking price is determined?
There are a number of ways to determine your home’s value:
- Disregard for a moment what your view of your home’s worth and start considering what it is worth to a prospective buyer. Chances are you have invested a lot of time and money into fixing up your house to be the perfect home. A buyer doesn’t share your memories, emotions or care about your financial situation.
- A Realtor may give you a comparative market analysis (CMA). This tool allows you to see what other similar homes have sold for in your area. Be sure to ask why certain homes were included on the CMA while others were not. The CMA is often a good tool to use to determine your beginning asking price but not necessarily the best tool.
- Consider going to open houses (Unfortunately, because of COVID, open houses are not allowed) in your area to learn how other homes compare to yours. Remember to look at other homes with the impartial eye of a buyer, not from the view of a current homeowner looking to sell.
- Using the price per square foot formula is a good way to compare your home to others. This should not be the only determinant, but it can be helpful in setting a fair asking price.
- Is it a seller’s market? A buyer’s market?
- Do you have to sell?
- Use my 60 point valuation chart, our exclusive home audit, and a scorebook that addresses these questions and others. In turn, it will enable you to value your home and obtain a price that could exceed your expectations.
If you have 52 minutes to invest in learning the way to price your home, I can be reached at 519-435-1600.