After years of taking care of your home, some minor home improvements or maybe even a major renovation, you are ready to sell. But the trouble is, you think your home is worth more than what the experts are saying.
According to valuation company RPS Real Property Solutions, 26% of homeowners overestimate the value of their home by more than 10% of the appraised value.
It is understandable whether you are watching the home prices go up in your neighbourhood, you want to get the most for your largest asset or you are simply experiencing the “Endowment Effect” (an emotional bias toward an object you own), many homeowners think their house is worth more than it is.
Why is the appraised value lower than expected?
Many of us see the sentimental…