Whatshot
Pricing your home to sell.
Pricing your home to sell.
Hearing that a beloved asset isn't worth half as much as the seller thought isn't an easy pill to swallow, but sadly, it is something that has to be faced and dealt with rationally. It's of no consequence to a buyer what you paid for it or how much has been spent in the way of improvements - they will overlook the home if it is more expensive than other similar homes offering the same sort of features in the area.
Buyers also aren't interested in the fact that the seller is intent on climbing the property ladder.We often hear, 'I'm upgrading to a larger home and I need my house to sell for 'Rx million' otherwise I won't be able to acquire the property I want."
Every seller is going to want to get the best possible price for his home. However, inflating a price hoping to 'catch' a buyer is unrealistic given that the buyer of today is very aware of not only what is on the market, but also what homes are selling at what price.Property portalslist properties according to the suburbs in which they are situated and an overpriced home tends to stick out like a sore thumb.
Sellers also need to be very wary of over-capitalising. Putting solid gold taps, a gourmet kitchen, a sauna and a spa bath into an average middle class home could backfire if the seller tries to recoup these costs when selling - at least in the short term.
Remember that serious sellers price their homes to sell and as such are able to move on to bigger or better things far more quickly than those who hold out for a higher, unrealistic price.