2/22/2016
Real Estate Mistakes Part 2
Real estate mistakes are common and avoidable for the most part. We all have made them at one point or another but the key is to recognize when we have. I’ve found a great article online here which outlines some of the biggest mistakes Buyers tend to make when looking at real estate. I’d like to share with you a few more that stood out for me.
Not Researching the Neighborhood
You’ve found your dream home, its floor plan is perfect, the style is excellent, and is priced well below what you’d expect a home like that to sell for. The old adage “if it’s too good to be true” rings especially true in real estate. Often there are some fabulous homes on the market that seem like a no brainer, but the catch lies with the neighborhood they reside in. From loud and messy neighbors to schools that don’t perform, neighborhoods are very important to the home buying process. I would recommend that you do a quick drive around the home you are looking at, see if there is anything that stands out as wrong or off. See if there are any community meetings happening that you may be able to attend, and look up the local schools and school district to see how they perform on a national level. Also, knock on doors and meet your potential neighbors, they may have different perspectives on the area you wouldn’t necessarily think of.
Trying to Make the Hard Sell
When you have an open house on your home you are trying to sell, it is tempting to talk up everything that makes the home special to you, don’t. The reasons you love your home may not be what a potential buyer is looking for in a home. If you are selling your home, you may consider not being around at the open house. Being absent at the open house, whether physically or verbally, allows a buyer to give unbiased objective feedback to the agent, which is only going to help you in the end.
Failing to Market Your Home in Different Ways
If you are thinking about putting your home up for sale, don’t just stick a “for sale” sign in your yard and hope for the best. There are a plethora of marketing tools available and it’s in your best interest to get your home as much exposure as possible. Talk to your real estate agent about the marketing they plan to do for your home. It’s something that should be set up form the initial signing of a contract with your agent. Some homes have virtual tours and photographs online, should you choose this route, don’t forget to include floor plans. The more information you can put out there about your home the better, buyers love information about homes. (The Gallant Network does full 3d scans of homes that combine a virtual tour, photography and floor plans, check it out!)
Real estate mistakes can cost you big time in a truly short time. Having an experienced real estate agent at your side who can guide you through the home buying process is indispensable. I’m always happy to help with any questions you may have in real estate, my phone # is (970) 335-8225 or you can email me at Sam@thegallantnetwork.com
You can browse homes for sale in the Durango area here, and you can see what your home is valued at here.
Posted 2/12/2016:
Real Estate Mistakes
Real estate mistakes are common and avoidable for the most part. We all have made them at one point or another but the key is to recognize when we have. I’ve found a great article online here which outlines some of the biggest mistakes Buyers tend to make when looking at real estate. I’d like to share with you a few that stood out for me.
Buying a Home for Its Decor
Image courtesy of Elle Decor
You’ve walked into a fantastic looking home, the drapes match the walls perfectly and the furniture goes together really well! Just a slight problem, the home doesn’t come with the furnishings. It’s easy to get caught up in how well the owners have set up their home, but it is important that you look past this. How is the floor plan laid out? Is there enough storage for you and your property? How are the views? Is the home in good condition or are there repairs needed? (light fixtures working, trim in good shape).
Treating Real Estate Like the Stock Market
We’ve all heard the news about home values on the rise, and real estate is a great investment for your future. But real estate is very much different from the stock market. It is a long term investment, 3+ years at a minimum to break even in most cases. While home “flipping” (buying a run down home and fixing it up) is an exception, it requires a concerted effort on the buyer’s part and isn’t without it’s own risks as well. Don’t make the all too common real estate mistake of treating your property like stock.
Not Thinking About Resale
This real estate mistake is along the same vein as treating real estate like stock, if you are looking for homes to increase your wealth you’re going to want to be able to resell your home should the need arise. An incredibly unique home that you just fall in love with may be perfect for you, but does the layout and design work for the majority of sellers? Homes that sell well and steadily increase in value have simple floor plans and broad appeal. Buying homes in the real estate market is a bit like chess, you’ll want to be looking two or three steps ahead in the game.
Real estate mistakes can cost you big time in a truly short time. Having an experienced real estate agent at your side who can guide you through the home buying process is indispensable. I’m always happy to help with any questions you may have in real estate, my phone # is (970) 335-8225 or you can email me at Sam@thegallantnetwork.com
You can browse homes for sale in the Durango area here, and you can see what your home is valued at here.