Home Selling Myths
Common Myths About Selling Real Estate In MA
Real estate is a topic where beliefs develop over time but do not actually adapt to the market. Relying on old information can be costly. Do not fall for these common myths about selling real estate in MA.
You Get Back the Entire Cost of Money Spent on Home Renovations
This is a very common misconception. We are sorry to say that the money spent on property renovations is rarely regained when when it comes time to sell. Even though repairs do increase the value of your home, the percentage depends on the type and scale of upgrade. Baths and kitchens, for example, often receive more than other improvements.
The Only Factor That Matters is Location
Every city has that popular location that everyone wants to move to. Given the high demand, people assume that it must be a profitable investment. However, the most desirable neighborhoods are not automatically great investments because prices might be approaching their maximum. Therefore, there may be little room for upward movement. Many times, the moderately popular neighborhoods provide higher returns.
Selling On Your Own Will Definitely Improve Your Net
Avoiding a broker fee does not automatically result in a higher profit for your transaction. Real estate agents are tuned in to the local market and know how to best position your property. Lacking that experience, you could price too high, waste valuable marketing time, or attract fewer buyers. All of this may result in a lower sale price, possibly less than what you saved on fees. There may also be other expensive errors that you may make during the process when not assisted by an experienced professional.
It Is Better to Provide a Concession Than Complete Repairs Ahead of Time
Whether you need updated flooring or need new paint, offering a closing concession is not always the best solution. Some items influence buyer determination of value. Even with the concession, prospective buyers may drop their price when a property needs work.
Pricing Does Not Matter In a Sellers Market
The real estate market is improving and you wish to receive top dollar for your home. You hear in the news that real estate receiving higher than the asking price, so you price your home on the high end expecting an even greater sale price. Pricing too high can be a huge mistake. Competing homes may have sold for above list price because their initial price was reasonable. You cannot expect that you will receive similar results no matter what figure you start with.
Staying Away from Common Myths About Selling Real Estate In MA
Buying a home is a big investment. When purchasing or selling real estate, it is critical to be educated and make smart decisions. Use real facts instead of the common myths about selling real estate in MA. Ask knowledgeable local professionals to help you in the process. This will allow you sell quicker, for more money, and with fewer problems.