If you are about to go through the process of selling a home, it is important to be as informed as possible. Sadly, those that are about to sell their first home can easily find themselves confused and bewildered by various misinformation. To prevent these myths from impacting your home-selling experience, you should be clear about several frequently shared myths concerning this process.
Myth: You Should Always List Your Home For Far More Than Market Value To Strengthen Your Negotiating Position
It is commonly assumed that you should start your initial listing price as high as possible. While it is true that you should list the home for the full value, you must be careful not to list it for too much. You may assume that listing it for a higher price will make negotiations with buyers, but a home that is listed for too much will greatly discourage individuals from placing bids on it.
Myth: Major Renovations Will Always Pay For Themselves When You Sell
Major renovations to your home may help to boost its value, but you should always be careful when committing to these projects. There is a common notion that they are guaranteed to pay for themselves when selling the house, but this is rarely the case. While renovations can increase your home's value and this may help offset the cost of the renovations, it is rare for these upgrades to pay for themselves. In fact, many of the more cost-effective upgrades that you can make are relatively simple, such as a fresh coat of paint or upgrading the gutters. Your realtor will be able to provide you with guidance about the upgrades that are most likely to be a positive investment based on the home buying trends in your area.
Myth: Your Home Is Extremely Likely To Sell During The First Open House
The first open house can be one of the more nerve-wracking experiences for home sellers. Often, those that are first-time sellers will assume that the home will be extremely likely to receive a bid during this open house. While this is possible, it is a relatively rare occurrence. In fact, many of those that are visiting during the open house will be real estate agents and other professionals. These individuals are scouting properties for current and future clients. As a result, you should not be discouraged if your home fails to attract a bid during the first open house. Rather, you should view your open house as a way to generate interest and buzz surrounding your property.
For more information, contact local real estate companies like Celia Dunn Sotheby's International Realty.
Share29 November 2016
Do you absolutely adore your home, but are planning an upcoming move due to a career change? If you’re moving in the near future, you might desperately desire to sell your current home as soon as possible. To help you accomplish this important task, consider hiring an experienced, real estate agent in your community. This individual can help you select the perfect selling price for your house. Your real estate agent can also provide valuable information about staging your home to perfection. For instance, to make your home more inviting, your real estate agent might suggest you purchase new bedding, window treatments, and artwork. On this blog, I hope you will discover how a real estate agent can help you sell your home fast. Enjoy!