With such a large investment it’s only logical that you would want to get the most money for your home that you possibly could. There are many factors that play into getting the best price for your house, simply asking a large number is most often not the only, or the best way to achieve this goal. If it were, all of our listings could start at $10,000,000 and work their way down until they sold, which is an unrealistic approach.
In order to get the most money for your Connecticut home you need to consider several factors:
The Condition of your home
Are there issues that can be economically addressed and provide a positive return? While it may not make good sense to renovate your kitchen, it might be a great idea to paint a shabby room, remove old carpeting or do some landscaping in the front of your house.
The Current Competition
Are there several homes that are very similar to yours on the market? If so then it might not be in your best interests to price your home significantly above those properties as buyers will most likely look at and purchase those homes before looking at yours. On the other hand, if you have a desirable house in a desirable location and there aren’t other houses currently for sale then maybe it makes more sense to be a bit more aggressive when pricing your home.
Realistically Evaluating Your Home’s Value
A research paper done by John Knight entitled "Listing Price, Time on Market, and Ultimate Selling Price," Dr. Knight found that sellers who priced their home closer to its actual value were able to get a higher price in a shorter period of time.
Contact Ferrigno Realtors for more information about getting the highest price for your Connecticut home or selling Connecticut real estate.
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