When someone sells their home, they want the best terms and the maximum price they can; even if buyers are looking for a bargain. Many are surprised to find that achieving this has nothing to do with how much you love your home, how much you originally paid for it, what it would cost to build today, or what other homes in different neighbourhoods are going for!
The current real estate climate determines the property's price and if the market is down, then the market will not support overpriced properties. The most important factor has to do with the current register of similar homes for sale in your immediate neighbourhood. If there are not a lot homes like yours up for sale, then you are not vying for buyers in the same market. What may not seem apparent is the fact that the price of the property for tax purposes, is often completely different that the final sale price.
Your Home's Marketability
Using a professional property inspector is a good idea if your property has any issues, you have completed any large scale improvements or if it is older than the average home. A Calgary property inspection typically comprises of a close look at your plumbing system, HVAC system, electrical system, structural, exterior, insulation, appliances, windows & doors, building envelope, roofing etc. Any problems such as pests or leaks will be detected by the inspector. The inspector will usually encourage you to be present at the inspection from start to finish and will clarify any defects observed in the home, offer you maintenance and repair tips, and answer any questions that may arise during the course of the inspection.
The Comparative Market Analysis
A Comparative Market Analysis tool looks at similar homes in your neighbourhood, giving a detailed comparison before supplying you with an asking price which is reasonable. This is not something you can really do on your own, it needs to be done by a professional real estate agent who knows the Calgary homes area and has up to date information on home sales where you are living. Don't think too much about how your residence is comparing to the one down the street, any facts you have of your home is often going to be an advantage. Comparative Market Analysis tools do have a shelf life! Keep it up to date with the present market conditions, so if your home hasn't sold within 3 months then it is time to look at having another one done.