Common Myths People Have About Real Estate

In general terms, we all believe that we are experts when it comes to buying a house. We believe that spending money on a real estate agent is expensive but the truth is that you are always better off working with a pro. We don’t buy houses every day and if at all we do, it can be once in a lifetime. We have developed certain myths about real estate from the experiences of others or from what we read on the net. However, not all you read is reliable and so just take it with a grain of salt.

Here are some misconceptions about real estate that will land you into trouble.

#1. You can save money selling your home yourself

Some people actually do really great in selling their homes by themselves but not everyone is lucky with that. You need skills to get the house on the market, negotiate contracts, market to prospective buyers and a whole lot of paperwork to do. Do you think you can do all of these on your own? It can get pretty exhausting and that is why you need a real estate agent.

#2. The market will only go up

This is a very unrealistic concept most people have because the market is not constant and changes occur every now and then. Home values go up frequently and there are times it goes way down. Therefore, don’t get your hopes up without preparing for an unexpected downfall.

#3. All real estate agents are the same

You will be making a big mistake by believing that all real estate agents are the same when trying to select one. All real agents have different skills, traits, and experiences. They are human as well and no two individuals are the same. Take for instance, an agent with 20years working experience has more knowledge and knows more than an agent with 2years experience.

#4. You should renovate your kitchen and bathroom before selling it 

One thing you should know is that not everyone shares your taste and quality. Most prospective buyers want to put their own spin on things and you renovating the kitchen and bathroom changes their view of the house altogether.

#5. You will earn back what you spend on renovation

Try fixing heating, air conditioning system or roof with the hope that you will get back what you spent. This is never a guarantee when doing renovation although it will make you sell the house quickly. The only renovation you can do and get your money back is having a new front door.

#6. Set your home price higher than what you expect

This idea can actually backfire because you have to realize that there are other houses out there in the market at reasonable prices. You may actually get a lower price for your house in the end. People also get suspicious of a house that has been in the market for over three weeks.

Getting a house can be a great deal and every day we read on the net and in the papers all about real estate. But you should be mindful because it’s not everything you read that’s true. Get your facts straight and do the right thing. By getting the right information, you will not only get the house of your dreams but you will also prevent yourself from getting a heart attack.