Top Real Estate Myths
Top Real Estate Myths
Buyers eager to sell, and sellers who want the best deal, often perpetuate myths that can harm real estate transactions. Some contain a small amount of truth, while others are completely false. Buyers might believe they are entitled to have every currently popular feature tin the home they choose to buy. Sellers might have heard they’ll get back every dollar they invested in remodeling. The right realtor can advise both buyers and sellers on the best way to sell and purchase based on real data and time-honed knowledge of local markets. Here’s what you need to know about these common real estate myths:
1. Sellers Must Change Their Paint To Neutral Before Putting Their Home on the Market.
Generally, this statement is false. Bold colors aren’t always a bad thing, especially if they play up a unique architectural feature. Even if this doesn’t apply, don’t race to cover your handiwork just yet. Offset bold colors with neutral decorations and tranquil greenery. If the color is still a sticking point with buyers, try this tip, instead: get an estimate on the cost of repainting and post some neutral paint chips on the wall. The rest will be up to the realtor to explain how a new color can change the space.
2. Sellers Will Make Back the Cost of Remodeling
False. While remodeling is often a good investment, it’s impossible to determine if you’ll get a 100% return on investment. Some investments, however, are more appealing than others. In fact, remodeled baths and kitchens continue to be highly attractive to prospective buyers, as it helps them avoid extra work. It’s always a good idea to keep your home updated, so it will sell in line with other homes in the neighborhood. However, think twice before undergoing an extensive remodel just for the sake of putting your home on the market.
3. Skip the Holiday Decorations if Listing at The End of the Year.
You may have heard that holiday decorations can offend people, but this isn’t always true. As long as the decorations are tasteful, they can actually make your home feel more festive and fun. Keep it minimal and avoid any religious themes. You might inevitably run into a Scrooge who doesn’t like them, but most people enjoy the warm touch of holiday decorations. These rules apply to Halloween and Easter, as well.
4. List Your Home in the Spring.
You’ve likely heard that the best time to sell is spring through mid-fall. While it’s true that real estate has a “busy season,” you’ll find plenty of opportunities throughout the winter months, as well. People who want to buy in the winter are typically highly motivated to buy, so you’ll run into fewer “lookie-loos.” Your real estate agent can provide valuable insights concerning the best price point for your home, no matter when you choose to sell it.
There are many common misconceptions surrounding real estate, but don’t let them keep you from buying or selling a home. If you have any further questions, please ask us!