result in a lower sale price than similar homes in the area.
Another option is to underprice the home—listing it at $280,000, to attract more attention and potentially spark a bidding war. While this strategy can generate strong interest and multiple offers, it carries a risk: if the bidding doesn’t escalate as hoped, you may end up selling for less than your home’s actual market value, ultimately falling short of your financial goals.
PERSONAL PREFERENCES
What one person sees as a benefit, another may view as a burden. For instance, you may consider your mature trees a valuable feature that adds beauty and shade while a buyer who dreads yard work might see them as a maintenance hassle. It's natural to want to recover recent expenses, such as the cost of a new $10,000 roof, by raising your asking price. However, buyers already expect the roof to be in excellent shape—they see it as a basic standard not a bonus. Positive perceived value refers to features that enhance a home's appeal in the eyes of buyers—often tied to lifestyle and convenience rather than basic upkeep. For instance, proximity to schools, public transportation, and medical facilities can significantly boost a property's perceived value for buyers who prioritize location and accessibility. These distinctive features often influence a buyer’s willingness to pay more than routine maintenance or expected upgrades ever could.
PERCEIVED VALUE
When a potential buyer perceives your home to be worth more than the asking price, their motivation to purchase increases significantly. Conversely, as the asking price approaches or matches their perceived value, that sense of urgency tends to
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