Don’t Let Old Comparable’s Trick You: Easy Home Valuation Tips for Downsizers in Niceville
Are you a former military member who is now downsizing in Niceville? Sometimes when you try to value your home, you might use comparables (or “comps”) that are not a good match. This can mean using sales data that is too old or looking at homes that are different in size, age, location, or even features like a pool. Using the wrong comps can lead to a price that is too high or too low and can cost you money when you sell your home. In this post, we share some easy tips to help you avoid these mistakes and get a fair value.
The Process Simplified:
• Outdated Sales Data:
– Many homeowners use comps from sales that happened a long time ago. Market prices change fast, so comps should be from the past six months or less.
• Not Similar in Size, Age, or Location:
– Make sure the comps you choose are like your home. The homes should be close in size (within 10-20% of your square footage), have a similar age, and be in the same area of Niceville.
• Different Renovations or Amenities:
– If your home has special features such as a pool or a new kitchen, choose comps that have similar updates. Comparing a home with a pool to one that does not have a pool might not show the true value of your home.
How to Avoid These Mistakes:
• Use Recent Sales: Always look for comps that are updated and reflect the latest market trends.
• Pick Similar Homes: Choose houses in the same neighborhood with the same look, age, and size.
• Adjust for Extras: If your home has upgrades like a pool or a modern kitchen, find comparables that show similar improvements or adjust the numbers to reflect these perks.A Note on Success:
Many homeowners have found that by using the right comparables, they get faster and better offers. When you price your home right, it not only saves you time but also helps you get a sale that meets your financial goals.
Don't let old or mismatched comps hold you back from getting the best price for your home! Call us at 850.499.2940 to learn how to set the perfect price for your Niceville home. Let our friendly team guide you through every step with tips and expert advice. (Remember: your home’s true value deserves the right comparison!)
