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Pricing Your Home

Oct 5, 2007
Are you going to sell your home by owner? If so, do you know what you are going to price it at? When it comes down to it, this is the one detail that you cannot afford to mess up. There are two ways of looking at pricing your home, and if you go too far to either side, you are sure to cause yourself some major stress sooner rather than later. With that being said, pricing your home is not as hard as you may think. You simply need to know what you are doing as well as what you are up against.

First off, you want to make sure that you do not price your home too high. Although this may sound like a good idea because you can make more money, there is a good chance that a high asking price will scare people away. Remember, since you are saving money on a real estate agent you can afford to offer a reasonable price. There is no reason to try to gouge the market, and in turn take the huge risk of scaring people off. On the other side of things you want to make sure that you do not price your home too low. If you do this you will get a lot of bites, but guess what? You may end up losing thousands upon thousands of dollars. This is something that you obviously want to avoid.

So how do you know what should go into pricing your home? First and foremost, you need to know what the market looks like. In other words, how much are other comparable homes in your area selling for? Once you figure this out, you will be well on your way to pricing your home with success. The key is to find out the price of other homes like yours, and then base your number off of that. If your home is a bit nicer, you will want to raise the price a bit. Just make sure that you are objective when making the comparison. If you are not, you are not doing yourself any good.

Pricing a for sale by owner home can be difficult if you do not know what the market is calling for. Take the time to learn about other homes in your area before pricing yours. This will help to ensure that you do not scare potential buyers off, but that you also get the money you deserve.
About the Author
James Gunaseelan writes for Mumbai Rental Portal. For Rental Properties in Mumbai(Bombay), India check the link http://www.bharathrentals.com/browse/all/all/Mumbai
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