There are common assumptions when it comes to real estate, much of it based on inaccurate information. Relying on misinformation may be costly. Avoid falling for these Grand Rapids Michigan home selling myths.
It Is Better to Provide a Credit Than Make Repairs Ahead of Time
Offering a buyer credit is not the best solution for handling required repairs. Some damages influence buyer opinions. This may lead home buyers to offer less. Needed repairs can result in lower selling prices in addition to the credit provided.
Pricing Is Irrelevant in a Hot Market
Everyone wants to get maximum value. You hear a lot of buzz about real estate selling for above the advertised price, so you price your home on the high side expecting an even better offer price. Setting the price too high can be a huge mistake. Other houses might have sold for greater than list price given their initial price was competitive. You must not conclude that you will receive more than the advertised price regardless of where you begin.
You Receive Back the Entire Value of Money Spent on Home Repairs
This is one of the most common selling misconceptions. Unfortunately, the cost of property repairs is not normally recouped when you sell. Even though upgrades do improve house values, the amount which you can earn depends on the type and extent of work. Baths and kitchens, for instance, historically provide better returns than other rooms.
It Is Strictly About Location
Every region has that great location that everyone wants to join. Buyers pay a hefty price and believe that it will be a wise investment. The high demand areas are not automatically the best investment given prices may be approaching the max. There may be less room for appreciation. Sometimes, the transitional locations result in better returns.
Selling For-Sale-by-Owner Will Definitely Improve Your Net
Selling on your own will reduce the cost of full fees, but it will not necessarily lead to a better final figure. Real estate professionals are entrenched in the local market and know how to best present your home. Lacking that guidance, you will likely price too high, lose valuable time, or reach fewer buyers. These can produce a lower selling price, possibly less than what you saved on fees. There might also be other expensive mistakes that you may make along the way without the guidance of an experienced real estate broker.
Avoiding Grand Rapids Michigan Home Selling Myths
Purchasing a house is a huge investment. When purchasing or selling homes, it is critical to be educated and make good decisions. Refer to current facts instead of the Grand Rapids Michigan home selling myths. Work with knowledgeable local professionals to guide you through the transaction. This will help you sell your property faster, for more value, and with decreased liability. If you are considering buying or selling a home, put my 24 years of experience to work for you. Call John Doorn 616.949.1004 JH Realty Partners