Unsellable Houses Star Warns Not To Make This Mistake When Listing Your Home
Lyndsay Lamb and Leslie Davis of "Unsellable Houses" have given out some valuable tips on how to design and sell your home over the years, but one of the best has to be about pricing your house. In Season 4, Episode 2 of "Unsellable Houses," Davis gave a homeowner some invaluable advice. "Don't price your home based on memories," the design expert stated. While memories may be very important for you, strangers won't see this. If you decide how much your house is worth based on sentimentality, Davis warns that it could put buyers off.
If you're preparing to sell and don't price your house reasonably, you could be in for a nasty shock when it stays on the market. In fact, as reported by property website Zoopla, homes that are priced at more than they're worth can take over double the amount of time to sell (an average of 10 weeks longer when compared to four or five weeks on the market for appropriately-priced houses). Moreover, Zoopla states that overpriced houses appear in fewer property searches when people filter using their budget, leading to a loss of potential buyers.
Don't ruin your chances of selling your home
It's not unusual to see a home as being worth more than it actually is based off the good memories you have had when living there, especially if it's something like your family home. However, pricing your property thinking about these memories will actively work against you. When potential buyers are viewing your home, they are not thinking about the memories that have been made but rather what they can see, such as the size of a room or any damage. If you overprice your property based on nostalgia, you're doing yourself a huge disservice.
It's recommended to consult more than one real estate agent when deciding how much your house should be listed for. This way, you'll get a fairer outlook. Consulting several experts will also help you gauge the real value of your home, as they will look at it objectively rather than through your eyes. If your home is on the market for an extended period of time thanks to overpricing, this could also affect the way buyers see your home. Sometimes buyers are put off by a property that has been up for sale for a long time because they believe there must be an issue with it. Due to this, taking Leslie Davis' advice is vital if you want to get your home off the market quickly.