When you’re buying a home it’s easy to be charmed by the cute exterior or dazzled by the gorgeous kitchen, but when you find the property you want, price becomes the big issue. Follow the steps detailed in this Investopedia checklist to find out if the price is right… or if not, what it ought to be.
• Research recently sold, comparable properties
• Check out comparable properties that are currently on the market
• Look at comparables that were on the market recently but didn’t sell
• Consider market conditions and appreciation rates in the area
• What is the expected appreciation for the area?
• What is your real estate agent’s opinion?
• Does the price feel fair to you?
• Test the waters
• Get an appraised value and a home inspection