10 Tips for Pricing Your Home


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Fix-ups Add Value

The fair price of your home takes some things for granted: the paint and floor coverings are in good condition, it's spotless, landscaping is maintained and you've decluttered your space. If you go above and beyond, your selling price can reflect it.

Some ideas include adding space and light, converting an extra room into a home office, boosting curb appeal, tricking out the bathroom and color-coordinating appliances in the kitchen. A quick online search returns hundreds of other suggestions.

But be sure to stay rooted in your comparables. If every house on the market has granite countertops, then this amenity will already be reflected in the fair price you listed earlier (if you don't measure up, you'd have to subtract from the fair price). But if you're truly going above and beyond -- with heated floors or a basement sauna, for example -- then you have room to grow your asking price.

Above all, stay rational and realistic to ensure that you price your home in that sweet spot of efficiency, where, in addition to padding your wallet, you also close the deal.

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Sources

  • Dratch, Dana. "8 tips for pricing your home in a buyer's market." Bankrate.com. (Jan. 1, 2011)http://realestate.msn.com/article.aspx?cp-documentid=13108482l
  • Geffner, Marcie. "How to Price Your Home." National Association of REALTORS®. 2000. (Jan. 2, 2011)http://www.realtor.com/basics/sell/setprice/price.asp?source=web
  • Gray, Liz. "My House is Worth What?" FrontDoor.com. April 7, 2009. (Jan. 2, 2011)http://www.frontdoor.com/Sell/My-House-is-Worth-What/55029
  • Hoak, Amy. "Pricing your home to sell in today's market." MarketWatch. July 19, 2010. (Jan. 2, 2011)http://www.marketwatch.com/story/pricing-your-home-to-sell-in-todays-market-2010-07-19
  • Weston, Liz Pulliam. "10 ways to sell your home faster." MSN Money. April 27, 2009. (Jan. 5, 2011)http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/10WaysToSellYourHomeFaster.aspx?page=1
  • Zillow.com. "How to Value a House." Yahoo Real Estate. (Jan. 5, 2011)http://realestate.yahoo.com/Homevalues/How_to_Value_a_House.html

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