Aug 17, 2016
Debunking Real Estate Myths
Selling your house is definitely a stressful experience that many go through. The industry is full of myths that are constantly circulating and buying into these myths can often hurt your chances of selling a home at the right price. Technology has radically changed the way our homes are bought and sold, but there are some aspects that have remained the same for decades.
From the highly experienced real estate agents at S&S Homes in Southern Utah, here are six debunked real estate myths you should be aware before selling your home:
- You can’t have bold paint colors when you sell a house: True or False?
False: Bold doesn’t necessarily mean bad. Sometimes a room needs a bright color to play an architectural feature, divide it in two visually or add cheer when there is not much natural light.
- Don’t buy the biggest house on the street: True or false?
True: The largest house is often the most expensive and this can affect its appraisal and make the price much higher than other homes in the same neighborhood.
- Avoid first-floor condos: True or False?
False: First-floor units can be a great bargain and a great place to live. There are actually many advantages to a first-floor condominium, such as not needing to wait for an elevator or climb stairs and being able to enjoy the change of scenery from the ground level up. If you are nervous about safety and noise, you can soundproof your condo with a well-fitted door and sound-dampening acoustical panels. There are also window treatments to block noise and for safety, purchase wrought iron bars or an alarm system.
- You can save money if you sell your home by yourself: True or False?
Mostly false: While some people can successfully sell a house on their own, you need the appropriate skills to get the home listed online, marketed to prospective buyers, negotiate the contract and deal with problems that might arise during the inspection of loan application phases. Selling home on your own isn’t impossible, but buyers usually expect a substantial discount when you do.
- You can earn back what you spend on renovations: True or False?
False: Fixing the heating and air conditioning or getting a new roof will help you sell a house more quickly, but it won’t regain what you spend. Studies have found that the only renovation likely to net as much as you spent is a new front door. In addition, you’ll only recoup 67.8 percent of what you spend on a kitchen remodel and 70 percent of what you spend on a bathroom remodel.
- An open house will sell your property: True or False?
Mostly false: Open house visitors rarely buy the house they visit during these events. Agents use open hoses to find additional customers who are looking to buy or sell homes. If you or your agent opt out of an open house, it isn’t likely to hurt your chances of selling.