Real estate has never been a cut and dry process. There are many steps, and various factors to consider before selling, buying, or showing a home. But just like with any complex investment, there are some misconceptions about what really happens in the real estate world. Knowing fact vs. fiction can make a huge impact on your overall investment so here are four common real estate myths that can help you avoid some major pitfalls.
Myth 1: Only list your house in the spring.
While it would make sense to sell during the warmer parts of the month, this doesn’t mean that it’s the only option you have. Real estate is known to be seasonal. Certain times of the year work more in your favor depending on where you live regionally and locally. But! This doesn’t mean you should hold out and wait until that one season of the year rolls around. Sell your house when it’s most convenient for you.
Myth 2: Leave room for negotiation when pricing your home.
Real estate is a competitive market. Homeowners will be shopping around and comparing prices. If your house is priced too high, there’s a chance you could end up losing possible buyers for your home. Priced too low could hurt you as well. If you absolutely must shift the value of your home, learn its worth. Account for the original price you bought it at, all its current changes and damages, and the state of the neighborhood and surrounding area. If you’re good with numbers, you may be able to assess all this information yourself; otherwise, it’s best to seek the help of a professional.
Myth 3: Extra features make a home harder to sell.
Extra features might include something like a working fireplace or a pool. While it’s true that not everyone will want them, there’s a market for people specifically looking for those items. Maintenance might vary depending on the size, age, and overall condition. But don’t worry too much about having that in-ground pool or colonial fireplace. Someone out there just might be searching high and low for those very things so consider them as positives that may cause your listing to stick out over other houses on the market.
Myth 4: “Open house” is a bad idea.
Having an open house could motivate you into keeping the house clean and presentable while you’re trying to sell it. It can give buyers the chance to see the property in a real, livable state before it’s turned over to them. Granted, ‘open house’ doesn’t guarantee a sale, but that doesn’t mean you should abandon the idea entirely. If this is something you’re comfortable with, go for it!
Every myth comes from a small kernel of truth, but even those little truths may not always be what you can expect to happen. To know real estate is to understand today’s buyers and market. You can save yourself a lot of trouble by doing a bit of leg work yourself and referring to a professional. Providing the finest real estate service in Bryan County, we are here to help you with any questions you may have. Feel free to give us a call at (912) 441-3053 or contact us through our web site. With our help, once you understand the game a bit better, you’ll be able to buy or sell a home with more confidence and know how.