POPULAR HOME-SELLING MYTHS DEBUNKED
With easy access to an abundance of information, it’s possible that many of your friends and family are self-proclaimed experts when it comes to real estate sales. But not everything that you read on the Internet is true. Here are a few very common “myths” when it comes to selling your home.
- It’s better to price high. This myth is harmful, because the truth is that setting your home above fair market value may actually result in a lower selling price. Some realtors and potential buyers will not even look at a house that’s overpriced. In addition, buyers are very suspicious of homes that have been on the market too long. Over time, this may force you to lower your price. If the market is in a decline, you may end up getting even less than that.
- You can get a better deal by selling your home without a realtor. A recent survey by the National Association of Realtors found that FSBO sellers netted smaller profits in 2015 than those who sold through an agent. This doesn’t take into account the many sellers who try to make the sale on their own, but end up needing to call in a professional. The knowledge of an experienced realtor is a huge asset when selling your home.
- You will get a return on your investment on any major renovations. It’s important to seek guidance when deciding which renovations are the best investment. It’s probably not worth it to redo your kitchen or bathroom completely; in fact, such a renovation may backfire. But there are many minor renovations (such as installing granite countertops, replacing appliances, or taking care of minor repairs) which can add value to your home.
- Only the inside of your home really matters. Realtors and potential buyers often do “drive-bys,” where they note the curb appeal of properties for sale. If the outside of your home isn’t appealing, no one may ever even bother to look at the inside. The good news is that it’s relatively easy and inexpensive to enhance the outward appeal of your home. The simple act of mowing your lawn regularly or putting up new house numbers can make a big difference.
- “Staging” a home isn’t really that important. Many sellers in central Ohio are now hiring professional stagers and finding that their properties sell faster and higher as a result. If you wish to compete with these sellers, you will need to employ some of their methods, such as depersonalizing your home by removing clutter and knick-knacks. Consider re-painting the interior of your home in neutral colors, too.
The decision to sell your home is probably one of the most important decisions of your life. Don’t allow your judgment to become clouded by myths and misconceptions. Always seek the help of a realtor to help you navigate the over-abundance of information about selling your home.