Friday, September 29, 2023 / by Ryan De La Uz
Here is What You Need to Know When Pricing Your Home in New Jersey
Selling a home in New Jersey? Have you figured out a suitable price yet?
Determining a home price can be complicated because every single property is unique and comes with its own set of features. When figuring out a price, consider recent sales and listings for all similar homes in the neighborhood, and combine this with inside market knowledge, which you can obtain from your realtor. They will inspect your home, and guide you accordingly. In the meanwhile, here are some general tips that you should definitely keep in mind when selling your home in New Jersey.
Consider recent sales
We’ve already mentioned this, but let’s go in greater detail. The New Jersey real estate market changes quickly, so rather than considering old home sales, only consider the ones that were made in the past three to four months. Check out the average home price for similar homes that have sold, and then set the price for your home.
Pay attention to fixtures and finishings
Features and finishing touches can significantly affect your home price. Any typical buyer prefers a home that has been renovated and upgraded and features neutral finishes. When you compare your home with similar proprieties that were sold recently, consider renovations and upgrades.
Upgrades may incur costs but they can significantly increase home prices and provide a return on your investment. Get any upgrades done before selling a home in New Jersey.
Remember that every single home is different
That 2,000 square feet home with 3 bedrooms and a swimming pool was sold for around $500,000. So does that mean that you should be able to sell a home in New Jersey for the same amount? Considering that its area is the same, and it also has 3 bedrooms and a swimming pool. Not really – because every single home is different. The bedrooms may be located on a different floor or maybe one of the homes doesn’t have a master bathroom. Home price would change in both these scenarios.
A buyer doesn’t mind paying more for a home that has been renovated and has a better floor plan. So if your property features an open kitchen with all three bedrooms close by, it would be more valuable than other similar homes.
Check out homes on the listings
Before pricing your home, it may be worthy to visit open houses and other properties on the multiple listings service or mls. This would give you an idea of the current market situation, and accordingly, you can figure out the worth of your home.
Talk to your realtor
Your realtor is a valuable source of information, so bring them on board early on the home selling process.
If you’re selling a home in New Jersey, schedule a session with us, and we’ll help you determine a suitable home price.