Low, High, List Price: How Much Should You Offer on a House?
After a period of house hunting, you’ve found a home that fits your lifestyle, and you’re ready to make an offer. Obviously, you want to come in with a bid competitive enough to land the place but not overpay. So, how do you know whether to come in high or low against the list price — or if the list price is exactly where your offer should be?
Well, part of the answer to that question is simply up to you: How badly do you want this specific property? The other part of it is about knowing the current real estate market conditions and how to play the game. We’ve put together this primer to help you decide when to come in low, high, or right at list price, including expert tips to help you weigh all the factors.
What goes into a home’s value or price?
Before determining how much to offer on a house, it’s helpful to have an understanding of what actually goes into a home’s value. Lots of factors are involved — and different housing markets will have their own unique quirks — but consideration will always be given to the following:
