When you sit down and sign the contract to purchase your house, you aren’t expecting to regret it later. Almost 1/2 of homeowners regret buying their home, and wish they had purchased another. Below are some of the biggest mistakes that people make when buying and selling their homes. Tip: Never purchase a house based on its current decor. Designers are paid a lot of money to make a house look better than it actually is. Many people buy a home because they are fazed by its gorgeous aesthetic. Then, when they move in and have their generic furniture, they are disappointed that their home doesn’t look like the magazine spread they though it was when they purchased it.
Remember that you are buying the house, not the things inside it, so make sure you see beyond the decorations. Focus on the floor plan and the square footage.
Not Providing Easy Access for Showings
Make your house easily accessible to potential buyers. If there’s nowhere to park or it’s difficult to get into, buyers may just skip it and look at someone else’s property. People nowadays not only want, but actually expect convenience. It is a priority to them.
Not Researching the Neighborhood
It’s absolutely critical that you research the neighborhood before you buy. Check out the area, amenities and the school system to be sure that your address corresponds with the correct school district. Also attend a community meeting, if possible. You’re not just buying a house, you’re buying the neighborhood as well.
Losing Money With Auctions
While the starting bidding price for a house on auction might be a good deal, it doesn’t mean the final price will be. Make sure that you are very strict with your budget when you are bidding; do not go over your final price because you got wrapped up in the excitement of a bidding war. Another thing to keep in mind is that when you buy a property at auction, you aren’t able to get any of the warrantees or guarantees, and you are not able to do a home inspection. Find out if the auctioneer is going to add those charges on top of the sale price as well as if there are any liens on the property.
Being Present At An Open House, or Viewing
If you are selling your house, you really shouldn’t be around at the open house. You might want to try to sell the place on all the reasons you think the house is great, but that might not translate to the buyer. If you leave, you allow the buyers to give unbiased objective feedback to the agent, which is only going to help you in the end. You don’t have to wait until the weather is nice to put your home on the market. That’s a common real estate myth.
Waiting Until A Specific Season To Sell
Spring is the busiest real estate activity period, but that does not mean that people don’t buy houses every single day of the year. That doesn’t mean you can’t emphasize your home’s seasonal amenities.
Failing to Market Your Home in Different Ways
Don’t market your home with just a “for sale” sign. Explore other marketing tools as well. Talk to your real estate agent about the marketing that he or she will do. It’s something that should be set up from the initial signing of a contract with an agent. Some homes have virtual tours and photographs online. If you choose to go that route, don’t forget to include the floor plans. That way, people can see the layout of your home and know if it’s right for them.
Not Thinking About The Potential Resale
When you are decorating and renovating your home, you need to think about what is going to appeal to a broad section of buyers when it comes time to sell it.