Once you find yourself selling a house, it’s pretty much the same as buying a car – it seems everyone’s got an opinion or advice. Unfortunately, not all ‘real estate experts’ are talking from experience. There are many home-selling myths that are perpetuated on and on. While there is a grain of truth in some of them, most of them are entirely unfounded. Before you list your home for sale, you need to separate fact from fiction. Here are the top six myths busted or confirmed.
A quick offer, price too low – busted
This is what real estate agents see all the time. A property is listed on Monday and by Wednesday, an offer is placed at or close to the selling price. At this point, many homeowners believe that the asking price was too low. The truth is, however, that serious homebuyers browse listings every day. As a new listing comes up, they’ll see it, and if the property suits them, they’ll offer a price. Besides, property agents also monitor the market daily, so when an interesting unit appears, they alert their clients.
A realistic price will attract more buyers – confirmed
Many real-estate ‘experts’ will advise you to trump up the listing price, so you can negotiate a better selling price. However, the truth is that people are easily put off by over-priced properties, narrowing down their searches to a price range they can afford. In addition, if your property sits on the market for long, people may be led to believe there is something wrong with it. And by the time you reduce the price to a more realistic figure, the damage will have already been done.
A north-facing garden increases value – busted
People talk about north-facing gardens and how they give your property the most sunlight exposure. On the other hand, a study found that properties with north-facing gardens didn’t raise the value by as much as people think, even less to justify the investment. In spite of being highlighted as a desirable feature by many realtors, a sunny garden is far from the selling point. Actually, it was found that a home with a beautiful view raises the property price by as much as 42%, regardless of which side the garden is facing.
Paint colour is important – confirmed
Moving and preparing for a fresh start is stressful and many homeowner-sellers realize at one point that painting walls fresh is simply too overwhelming. By doing this, they miss one of the most important tasks in preparing your home for sale. However, not just any type of colour will do. It has been proven that neutral colours help a property stand out in online photographs, where many potential buyers will get their first glimpse of your house.
Update bathroom and kitchen – confirmed
A new kitchen or a bathroom can increase the value of your home in case you decide to opt for a major renovation before selling. A minor renovation, on the other hand, can help reel in more buyers. If you have settled on upgrading the kitchen, choose less expensive updates like new appliances, countertop or wallpapers. But, If you want to update your bathroom, then don’t hesitate to install quality designer bathtubs because they will certainly attract even the most demanding buyers.
The driveway is a selling point– confirmed
People will always choose a property with a driveway with street parking. Also, as the driveway is the first thing they’ll see, its state can be a sign of what to expect inside the house. This is the reason why many homeowners choose to upgrade or update their driveway if they are looking to sell. However, aside from being aesthetically appealing, a good driveway needs to be functional, resilient and safe. With all these boxes ticked, the solution that speaks for itself is a driveway made of exposed aggregate. This is an all-weather material that is highly trafficable, and requires minimum maintenance.
Most people will tell you only what they’ve heard. For many of them, ‘I don’t really know’ is the worst thing they can say. Instead, they are ready to sell you real estate myths that can lead you to spend thousands of dollars which you won’t be able to make back. If you are still uncertain about a myth you have heard, consult your trusted real estate agent.