There are so many misconceptions out there when it comes to real estate. Many people claim to have the hacks you need, or that there is only one way of doing things. Buying and selling a home is hard enough without trying to sort truth from fiction, so let us do that for you.
False: Houses Will Always Appreciate In Value
Research the neighborhood you are buying in before you do anything else. Identify any trends for the property market locally as well as nationally. Remember that housing bubbles or crashes will impact the sale price regardless of what you paid for your home.
False: You Don’t Need A Real Estate Agent
Talk to a real estate agent before you buy or sell a new home. Use their years of experience to avoid any pitfalls. Do as much research on your own as you can and talk to friends and family who have been through the same process. Remember that a good real estate agent knows the area, the market, and the best next step.
False: Home Loans Are A Bad Idea
Look carefully at your finances to see if a home loan is right for you. Read about the different types of home loan that are available. Ask yourself if paying a fixed rate mortgage would give you greater security. Find a home loan provider with experience and great customer ratings. Look for a provider with experience in your region as the property trends in the Midwest will not be the same as those on the East coast. Visit The Home Loan Expert to find a loan that fits your budget.
False: Home Renovations Before Selling Are Always A Good Idea
Remember that buyers want a guarantee that they won’t have to do more work on a home. Think about investing in upgrades and fixes for essential appliances, piping and wiring. Avoid paying for renovation work that is purely cosmetic. Ask yourself whether the cost of a completely refitted kitchen is going to increase the home value enough to get your money back.
False: You Can Do It All Online
Visit any property you are thinking about buying in person before you commit to anything. Check COVID-19 restrictions in your state before you travel to a viewing. Look for issues that the seller may be trying to keep hidden. Check that the home is as spacious and well-lit as the pictures online made it out to be. Remember that any property listing is curated to be as appealing as possible.
False: Real Estate Agents And Lawyers Are All The Same
Take the time to find a real estate agent and a property attorney that you trust. Look at what experience they have had in your area and look for reviews. Make sure that you feel comfortable with them before allowing them to negotiate on your behalf.