6 Home Pricing Myths That Could Cost You BIG

Let’s talk about one of the trickiest parts of selling your home: pricing. Everyone’s got an opinion—from your neighbour to that well-meaning friend who insists they “know the market.” But here’s the deal: pricing myths are everywhere, and if you buy into the wrong ones, you might leave serious cash on the table or scare buyers away before they even step through the door.

So before you slap a price tag on your home, let’s bust these six common pricing myths and set you up for a smooth, successful sale!

Myth 1: “I Should Price It High So I Have Room to Negotiate.”

It might sound smart to start high, thinking you can always knock a few grand off later. In reality, overpricing sends a big red flag to buyers—they might wonder if something’s wrong or simply skip your listing altogether. A quick sale usually means your price was spot-on from the start.

Myth 2: “House Sigma (or My Friend’s Random Opinion) Says My Home Is Worth ‘X’.”

Online home value tools can be fun to play with, but don’t rely on them blindly. They’re just estimates based on limited data and can’t capture your home’s unique charm or local market nuances. Trust a local real estate expert (hey, that’s me!) for a Comparative Market Analysis that really reflects what buyers will pay.

Myth 3: “I Can Add My Renovation Costs to the Price.”

Sure, you might have splurged on a kitchen update or a swanky bathroom remodel, but don’t expect to recoup every dollar when you sell. Buyers aren’t going to pay full price for your personal upgrades—they want a home that’s move-in ready without the premium of your hard work (and your bank statement).

Myth 4: “If I Wait, a Better Offer Will Surely Come.”

It’s tempting to think that holding out for that “perfect” offer will eventually pay off. But here’s the truth: the longer your home sits on the market, the more buyers start to wonder if there’s a hidden flaw. A quick sale usually means you priced it right, while a lingering listing can lead to lower offers and increased doubts about the property.

Myth 5: “All Renovations Are a Guaranteed Investment.”

We all love a good home makeover story, but not every renovation will boost your sale price dollar-for-dollar. Some upgrades deliver great returns (hello, fresh paint and updated fixtures!), while others—like overly personalized spaces—might actually turn buyers off. It pays to be strategic about where you invest your time and money.

Myth 6: “Overpricing Won’t Hurt as Long as I Can Negotiate Down.”

The idea that a high asking price gives you plenty of wiggle room is a dangerous misconception. Overpricing can cause your listing to sit idle on the market, giving buyers the impression that there’s something wrong with the home. Once a property languishes too long, you lose your negotiating power altogether.

Price It Right from the Start!

Real estate is both an art and a science. While you might be tempted to play the “high and mighty” game with your asking price, setting a realistic, competitive price from day one is your best strategy for attracting buyers and even sparking bidding wars. Remember: a quick sale is often a sign that you nailed the pricing, while overpricing can be a costly misstep.

Need help cutting through the pricing myths and figuring out the perfect price for your home? Let’s chat! I’m here to guide you through every step of the process so you can sell fast—and for top dollar