Don’t think of cost. Think of value. ~ Anonymous
The question of if you are paying to much can be answered from many different angles: a private appraiser, a government assessor, a REALTOR®, your mortgage broker, your grandma or your mother – all have options. But it often comes down to value.
When a house is placed on the open market, the market will dictate is value and its worth. Priced to high and people will not visit. Priced too low and it will sell quicker than the average home sells. But, at the end of the day it comes down to value and always will. People don’t visit an over priced home because the price they are asking simply doesn’t reflect the value they are getting from it.
So when you are asking yourself if you paid too much for your current home, take a minute and assess your needs. Chances are someone else who saw value in your home will see the same value an purchase it from you.
What do you value in your current home? What was most valuable to you when you purchased it? What do you think will be the most valuable to other potential buyers down the road?