Category «Real Estate»

The biggest mistakes in real estate that you should avoid

As we welcome the new year, we list down some of the worst but most common mistakes we make in buying your selling your home:
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Not making enhancements to showcase your home better

If you are selling your home you should think of how house hunters will be seeing your property. Minor enhancements are necessary and you can hire a professional to help you with this. You can have your furniture re-arrange so it will look more pleasing to the buyers. Stage your home right and you can increase its potential in the real estate market.

Sky high selling price

You need to do your research well so you can put the right tag price on your home. You have to compare it with nearby homes and see how you can price your home. You can have a sale price just in the middle of the going on prices in your neighborhood rather that start high and bring it down after which might put an impression on buyers that something is wrong with the property.

Buying what you want

There is a big difference with what you want and what you need. If you buy according to your wants, then there is something wrong and you may be wasting a good portion of your hard earned money. Shop for a house which will answer your needs. Make a list of your needs that you want to see in your new home and look for features that will address them as you shop around for a real estate property.

Visiting the property only once

If you are buying a home, you may want to schedule multiple visits to the property. The community it is in may be different depending on the time and day of your visit. It is also good to think things carefully and not falling in love at first sight.

Not having a realistic budget

If a bank pre-qualifies you for a few hundred thousand dollars, it does not necessarily mean that you can really afford to pay it. Do the math and see if how much you can afford for amortization for a new home. Make sure that you will be comfortable taking into account your monthly spending and any potential emergency costs.

Different ways to show your property to potential buyers

Showing your property is critical to the home selling process. Here are some ways how you showcase your home to prospective buyers:

home-staging

Open House

Most open houses are done during the weekends. Sunday afternoons are ideal since most people are free from work obligations. Buyers can make most of the situation to shop around and have a good feel of the market without the need to commit to an agent. It is also a great opportunity for sellers to have a few hours to show their home with a good number of potential buyers visiting.

Private showings

Some buyers might visit during an open house and there will be times that serious buyers would request for a private showing of the property so they can appreciate it more without the other people moving around from room to room. It can be a challenge for some homeowners since they have to maintain the property in staging condition while living in it.

Lock box

Some sellers or buyers might not be available during weekends. A lock box kind of showing makes use of a lock box just outside of the house where agents can access the key. This gives a great chance for the buyer who might be coming out of town or just available on a certain day to check out the property.

Whatever path you want to take in order to showcase your property, make sure that you coordinate well with your agent. Buyers and agents should be respectful of the owners of the house while sellers should make sure that the property is in tip top staging condition.