Selling your home, especially on your own, is fairly difficult. One of the hardest parts is deciding what price to list your home at. You don't want to go too low and end up losing money, yet you also don't want to go too high and risk your home never selling. Luckily, there are a few tips that you can use to determine the correct price for your home.

#1 Take Your Neighborhood Into Account

 The first piece of advice we can give you is to pay attention to the houses around the house you're trying to sell. This is especially true if there are other homes on the market in your neighborhood. If your home isn't as fully featured as another home on your block, asking more for your house than that house is a bit unreasonable. Price your house within the range of similar homes in your neighborhood.

#2 Know Your Home's Real Value

 You want to choose a price that is close to your home's real value. Adding extras onto that price (like the cost of included furniture) is fine, but again, be reasonable. Pricing your home beyond what it is actually worth will make it much harder for people to buy, since they won't be able to get financing.

#3 Leave Some Negotiating Room

 Don't price your home so low that you don't have room to go down. Start at the highest you should go, and then go down when someone is interested. That will make them feel like they are getting a good deal, while keeping in the price range you need to be. Remember that you have the upper hand in all negotiations. You know what your price is, and they don't. Price a little high, and then negotiate with them until they reach the real price you expect to get. Be cautious, however; don't price so high that you don't attract potential buyers.

#4 Customize Your Listing, But Be Honest

 Your listing is very important. List as many of the stand out features as possible. Then show a reasonable price that correlates to the stand out features. Having a listing that doesn't show many features, but an extravagant price, might drive people away. Being as descriptive in your listing as possible gives potential buyers the knowledge of why your price is what it is, and will allow them to know if they truly can afford your home.

#5 Be Flexible, and Have Reasonable Expectations

 Finally, be prepared to take something other than what you're asking for. Almost nobody gets the exact asking price; so don't get upset when that happens to you. That's why you want to set a range of prices that are acceptable to you. That will keep your expectations in check. As long as the price you sell for is in that range, you're less likely to be disappointed.

 Be flexible, but don't be afraid to walk away. In other words, bend but don't break. Stay within your acceptable price range, and everything will go smoothly.

Final Thoughts

 Selling your home on your own is very difficult, so choosing the right price is very important. This will facilitate a reasonable selling timeframe. Our best piece of advice is one that isn't listed above: ask an expert. Real estate agents, home inspectors, and appraisers will be able to give you a reasonable expectation of what your home should go for in the local market. That will take the guessing out of the situation, making your selling process much easier.