Very often I see the same misconceptions that owners come up with to determine what their house is worth. I figured we can list them here and then build a list of the true and accurate factors. Here we go:
The market value of home is NOT:
- What you have in it.
- What you need out of it.
- What you want.
- What you heard your neighbor’s house sold for.
- What the tax office says it is worth.
- How much it is insured for.
- Based on memories and treasures.
- Based on prices of homes where you are moving.
- What you like about it.
- How you decorated it.
Selling a home is an emotional process, but it is also a business decision and transaction. One very important thing to remember is that as soon as you have decided to sell your home, it is not yours anymore.
Check back for the post on the true factors that affect the market value of your home.