What You Should Know When Pricing Your Houston Home
When selling your Houston TX home, it may seem your to-do list grows longer by the minute. From preparing the property for Houston buyers—including making repairs—to searching for your next dream home where you will move when all is said and done, there is much to consider. With the KW Energy Corridor Team on your side, you can rest assured that we will walk you through the entire process, from preparations to listing and of course, pricing.
It is important to price your Houston home correctly from the beginning. If not, you could risk turning away Houston buyers and allowing your home to sit on the market longer than necessary. And while it may be tempting to list on the higher end, home sellers should note that what they’ve heard about pricing does not always ring true in the current real estate market.
Below are three myths to correct before pricing your Houston Energy Corridor home:
Myth: You must price high to make money
Home sellers in Houston TX are often tempted to price on the higher end of the spectrum with the expectations that they will make more money on the sale. However, you will soon realize that an overpriced home is difficult to sell. It is key that you work with your agent to find a price that is realistic for both your home and the market, taking into account a variety of factors including comparable homes in the area.
Myth: You can add the costs of renovations into the price
It is true that certain home renovations and upgrades will boost your home value, but home sellers should be aware that you may not recoup all of your investment at listing time. In fact, it is rare to recoup the entire cost of your project! It is suggested that homeowners can get back an average of 60 percent of costs spent on renovations. Remember, it is always wise to ask your KW Energy Corridor Team which upgrades will be worth the money when you sell, given what buyers are looking for, prior to listing your home.
Myth: Pricing low won’t make you money
As we mentioned above, pricing on the higher end does not mean you will make more money on your Houston home sale, nor does pricing on the lower end mean you won’t make a profit. In some cases, pricing on the low end could intrigue more buyers and as a result, spark a bidding war. You may find that choosing a lower price ultimately ends up driving the price higher than what you are asking.
Ready to sell your Houston home? The KW Energy Corridor Team is here to make your sale a success! Contact us as soon as you’re ready to get started!
KW Energy Corridor Team
11757 Katy Fairway | Suite 930
Houston, TX 77079