To accomplish your goals you need to do what works, and avoid taking some real estate advice that will make selling your home harder.
In the process of selling your home, you would be getting lots of advice – most of which it is best to ignore. Especially if you want to get your property transaction done for the best possible price, in a reasonable amount of time.
Below you will find some of the faultiest real estate advice you will come across when involved in a property transaction about selling real estate. These are myths that somehow some homeowners have come to believe are true.
When you follow the worst home selling advice, you often end up with worst possible results.
What common real estate advice do you disagree with?
If it’s not selling, it’s because it’s overpriced.
That’s often true, but not always. It may not be selling because of some flaw or failure that can’t be fixed with money. It may have a swimming pool in an area where not every house does. Many families with pets or small children won’t buy a house with a swimming pool regardless of price. It might be under high-power lines.
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There’s a belief—not fully supported by research, but still strongly believed—that radiations from high-power lines can cause cancer or other diseases. And there are plenty of other factors that can pretty much make a house unsellable.
Any house will sell at the right price.
That’s often true, but it’s also often false and very dangerously false. Consider the examples above. It’s not the price that’s the barrier. And there are other issues, too. Buyers today, far more so than a few decades ago, expect a house to be in near-perfect/pristine condition.
They’re generally not interested in spending lots of money on remodeling a house they’ve just bought. I’ve seen people reject houses that were very good buys over the color of the walls in one room, or the carpeting. Then there are the houses with more serious problems—foundation issues, a leaky plumbing work, etc.
Investors will buy the house, but often not buyers who which to occupy the property straight away.
Buying Land is Not Simple and Straightforward
One of the wrong impressions anyone can give you in Nigeria is that buying land is as complicated as buying a nuclear weapon at a supermarket. This is a myth that real estate experts have taken up the responsibility to correct.
Buying land requires research but this does not mean it is a complicated process. When you want to buy land, you have to be very thorough to ensure you avoid complications in the future.
So don’t let anyone bamboozle you into believing the process is complex, inorder to get more money off you
Any Land You Buy is a Good Investment
There is a belief that land investment is always good regardless of factors like location, pricing and condition of the land.
This a myth that has often come back to haunt those who have wrongly bought into this idea. There have been instances of people buying land at inflated prices and finding themselves in a mess.
What happens when you buy land at an inflated rate is that it takes an extremely long time for you reap financial gains from your investment. Buying land at an inflated rate is never a good idea.
Those are just a few pieces of real estate advice I disagree with.
Renovating the interior of the house before selling is a waste
Investment in the interior of a house is a waste of money because it does not add up to the value of a property is another bad real estate advice you should avoid. Although, the interiors may not result in a monumental hike, but investors can always expect a decent increase in the price of a well-designed interior layout. However, the interior layout has to be planned logically as overdoing the layout may drive some potential buyers away. It is advisable to stick with the basics.