By Jordan Osei, Staff Writer
When it comes to pricing new construction homes in North Texas's upscale real estate market, one size does not fit all. In this competitive landscape, getting the price right is crucial for both buyers and sellers.
As a top-producing Realtor and business partner of a custom luxury home builder, I've seen firsthand how pricing can make or break a deal.
One common mistake is setting a price based on the cost of construction alone. This overlooks the value that buyers place on design features, location, and other factors unique to each property.
"Pricing isn't just about what it costs to build," says Debra Brown, Realtor and business partner at The Deb Brown Group. "It's about understanding the market and positioning your home for success."
To unlock value in new construction homes, consider these strategies:
Research comparable sales: Look at recent sales of similar homes in your area to get an idea of what buyers are willing to pay for specific design features and locations.
By taking these steps, you can position your new construction home for success in North Texas's competitive upscale real estate market.
*How do I price my new construction home to attract buyers?
To price your new construction home to attract buyers, you need to research comparable sales, analyze market trends, and position your home for success. By doing so, you can set a price that reflects the unique features of your home and the current state of the local real estate market.
What factors should I consider when pricing my new construction home?When pricing your new construction home, you should consider factors such as comparable sales in your area, local real estate trends, and the unique design features and location of your home. By taking these factors into account, you can set a price that reflects the true value of your property.
How often should I reevaluate my new construction home's pricing strategy?*You should reevaluate your new construction home's pricing strategy as often as necessary to keep up with changing market conditions and buyer preferences. In general, however, it's a good idea to revisit your pricing strategy every few months or so to ensure that your price reflects the current state of the local real estate market.