Setting the right price for your home is vital in the selling process. It can determine whether your property sells quickly or lingers on the market. Here’s how to find the ideal price for your home:

  1. Research the Market: Begin by understanding the local property market. Examine the sale prices of similar properties in your neighbourhood, often called "comparables" or "comps." These should be homes of similar size, condition, and location. This research will give you a solid foundation for setting your price.
  2. Highlight Unique Features: Every home has its unique attributes – perhaps a modernised kitchen, a well-kept garden, or advanced smart home technology. These features can increase your property’s value. On the other hand, outdated areas or needed repairs can lower its value. Adjust your price to reflect these unique aspects.
  3. Keep Emotions in Check: It’s natural to have sentimental value attached to your home, but this can lead to overpricing. Remember, potential buyers will view your home objectively and compare it to others on the market.
  4. Assess Market Conditions: Is it a buyer’s or seller’s market? In a seller’s market, where demand is high, you might be able to price your home higher. In a buyer’s market, where supply exceeds demand, you may need to be more competitive with your pricing.
  5. Seek Professional Advice: Consider hiring a professional valuer or working with an estate agent like Maddisons Residential that can provide an objective market analysis and suggest a realistic price based on their expertise.
  6. Be Ready to Adjust: The market can fluctuate, and so should your strategy. If your home isn’t attracting interest after a few weeks, reconsider your price. Sometimes, a slight adjustment can make a significant difference.

Setting the right price involves a mix of market insight, objectivity, and flexibility. It’s crucial for attracting the right buyers and closing the sale efficiently.



If you need advice and help on buying or selling a property, please contact us to speak with one of our award-winning team who will be able to help you.