House is sold for an average of $620-$640k in my neighborhood (original finish with some updates) and my home has $200k in upgrades (new kitchen, bathrooms, room, door, painting, etc.). How do I price this home? Thank you for your advice!
If you actually want to sell, you should price near what similar nearby properties have sold for in the last 3 months.
$200k in upgrades might bump your listing price by about $50k. It’s very area and local market dependent. Every house in your neighborhood has kitchens and bathrooms.
This is pretty much spot on.
You won’t get your $200k back. Find homes of similar style, age, condition, and finish, and you’ll have a range to work with.
Steele said:
You won’t get your $200k back. Find homes of similar style, age, condition, and finish, and you’ll have a range to work with.
Yes, I understand I won’t get $200k back, but I’m wondering how I should factor those into the listing price 
Steele said:
You won’t get your $200k back. Find homes of similar style, age, condition, and finish, and you’ll have a range to work with.
Ok. You wouldn’t ‘price them in’, you’ll just get your comps for similar features and finishes.
Look at other similar homes that are selling recently. If they have updated kitchens, bathrooms, painting, etc., then that’s your price point. If they don’t have the upgrades that yours has, maybe price yours a little higher. Not $200k higher, but possibly a quarter of that…
Sounds like you will overprice if you are already factoring in that $200k renovation.
Probably not $850k. You’ve got to find comps.
You’re going to have the most expensive listing in the area. Hope the market is hot where you are.