Whether you’ve owned a piece of Charleston real estate for decades or you’re just getting in to the market now, you might be curious as to how much value is locked up inside of a house and the property it sits on. A home is a significant investment, and determining its true value means analyzing and assessing a number of factors. Let’s take a look at a few quick tips that you can use to better understand how much your home is worth and what you might receive should you decide that it’s time to sell.
Start with a Proper Home Appraisal
If you had a piece of jewelry such as a diamond ring and you wanted to know what it was worth, you would likely take to a jeweler for an appraisal as an industry professional is best-equipped to provide an accurate, realistic value. The same goes for your home – the best place to start is by having your home appraised by a real estate professional that specializes in Charleston-area properties.
Browse Through Our Listings
You can get a quick idea of what your home might be worth by browsing through our real estate listings and looking at similar homes in your community, but you’ll want to ensure you don’t mistake the asking price for the price that the home actually sells for. For example, if you own a three-bedroom detached house in Mount Pleasant, you can analyze the price range that other homeowners are asking for their houses to see where yours might fit in.
Overpricing Can Quickly Kill Your Listing
A common mistake made by inexperienced sellers is to try to ‘price high’ with the expectation that buyers will try to negotiate the price down. Unfortunately, this strategy can end up scaring off serious potential buyers and cause you to have to discount your price later, which can actually lead to you selling for less that if you had started with the correct price. Your home will get the majority of its interest in the first couple of weeks after the listing goes live, so it is crucial that the price is one that attracts buyer interest during this time.
Don’t Push Potential Buyers Too Far
Finally it’s worth noting that it is entirely possible to push a buyer too far during the sales process and end up losing the sale entirely. Virtually every home buyer understands that they are going to have to compromise somewhat during the negotiation process, but if someone feels that their needs can be better met for a similar price elsewhere, they won’t hesitate to abandon things and move on. Always keep in mind that the true value of your home is what someone else is willing to pay for it – don’t let the thought of a high price distract you from the goal of a successful sale.
If you’re ready to start the process of selling your Charleston-area home, contact The Cassina Group today at 843.628.0008 or by email on our quick contact form. Our friendly, professional team will be happy to assist. Thanks for visiting and we look forward to working with you!