Six Lakes Realty

3 Reasons Homeowners Overprice Their Northwestern Wisconsin Homes

money-767778_960_720Summer is the time when many Northwestern Wisconsin homeowners begin to entertain the idea of listing and moving on to their next dream home. However, oftentimes the number at which they’d like to sell or feel they need to sell for is not realistic for the local real estate market.

You may have looked at comparable properties, but feel your’s is worth much more and when selling your home, this urge to overprice—whether you notice it or not—can be a significant obstacle. Below are three of the most common reasons homeowners believe they should price their homes on the higher end:

You think your decor warrants a higher price
Your home in the Chetek WI area undoubtedly represents your style, but what does it say to other homebuyers? Bright, loud colors can be a major turn-off to anyone house-hunting, in addition to spaces cluttered with knick-knacks, bulky furniture and personal touches. This is why homeowners are routinely instructed to keep a neutral palette. Remember that while you love your decor, your unique style may not be for everyone and could in turn, bring down the value of your home.

You are emotionally attached
If you’ve lived in your home for a number of years, you will have formed an emotional attachment that—in your mind—will drive up its worth. Especially if you built the home yourself, you will get the idea that it is more valuable than the market would currently suggest. Keep in mind that your goal of listing your home is ultimately a successful sale, so take off that homeowner hat and put on your home seller hat. You will need to be strategic, despite all of the memories you have associated with the property.

You want to make a profit
Every homeowner in Northwestern Wisconsin would ideally like to make a large profit when selling their home— which can tempt you to drive up the price. However, you may recognize that there is a disconnect between what you want and feel you need to sell the home for and what buyers are willing to pay. After all, just because you want to buy another home and need $100,000 to do so doesn’t always mean you can sell your home for that amount.

It is always best to defer to your agent on the best possible price for the market and the present buyers. Give the team at Six Lakes Realty a call with any questions you have about selling your home this year! We are happy to provide tips and guidance for a successful sale.

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806

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