Tips to set the right price for your home

By: akanksha


One very important part of real estate transaction is the price. Like any other business where a trader wants to sell his merchandise to the customer at the best price, similarly in real estate, a seller wants to sell his property at the best price possible. However many people find it quite difficult to set the price or find the best deal for their property.
Setting the right price for the property is a very complicated and confusing process for the first timers. It becomes more difficult, as factors affecting the price of other merchandize cannot be applied to the property. Apart from that, their emotions also affect the decision as it is considered a very important transaction of one’s life.
While setting the price for your home, always think from potential buyer’s point of view. However, two minds cannot think in a same way. But you can at least analyze the situation by keeping yourself in his shoes. What if you are provided with a similar home at the price which you have decided, whether you will buy it or not.
You can also assess the value of your property using information from the internet. There are some real estate websites, which provide lists. Where you can see the rates of similar homes put on sale by different owners. Generally, properties which are closely comparable should be looked for, as then the price will be quite similar to your property. You can also contact your neighbors or friends who have recently made transactions. Collecting information from different sources can be of great help, as you will get a fair idea about the negotiations with the buyers, in order to cut the deal with the seller.
The price of your property should be based on a number of factors, some of which are plot size, area, type of finishing, flooring, overall condition property, and also the neighborhood. How old the property is that also affects the price of a property, as generally the price of the property decreases with its age. Among all aforesaid facts or conditions, a number of other things are also involved, and these include switches, paint etc. To set a high price, make sure every nook and corner of your home is well maintained and everything is in good working condition.
Condition of the market is also a deciding factor when setting the price right. A common rule is that the price and supply is directly proportionate to each other. So if there is more demand then you can get a good price for it but if the market is sluggish then you will not get more buyers for your home at the price which you want. If the market is down, then either you can sell it at the low price or wait to get the right deal for your home, when the market goes up. So, it is preferred to have a lower price in your mind, so that you are mentally prepared for getting some amount less than what you have decided.
One thing that you need to understand is that as this includes a substantial amount of money, thus no decision regarding increasing or decreasing the price of your home should be taken in haste. Harji Realtors is one of the leading real estate agents in the region of Chandigarh, Mohali and Kharar. For more information on great deals in Plots in Sunny Enclave and the best Imperial apartments check out our website

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Harji Realtors is one of the leading real estate agents in the region of Chandigarh, Mohali and Kharar. For more information on great deals in Plots in Sunny Enclave and the best Imperial apartments check out our website

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