Top 7 Most Expensive Mistakes – When Selling or Buying A Home

Top 7 Most Expensive Mistakes – When Selling or Buying A Home

When it comes to selling or buying a home, what you don’t know can cost you — literally. Whether it’s not doing your research or getting too emotionally involved, making the wrong choices can cost you thousands of dollars.

To avoid this, read on— and don’t commit any of them.

Selling Mistakes –

expensive mistakesSetting the price too high: What your home is worth to you and what it’s worth on the current market can be very different. Take a good look at what is or has sold in your area and make sure you’re being realistic about your home’s value.

Hanging out during an open house: Perspective buyers do not want the current homeowner hovering over them as they tour the house — it’s a lot of added pressure and can prevent them from giving the honest feedback that could ultimately help you sell your home. Go out and let your Realtor handle it.

Not keeping resale in mind when renovating: The changes that make your house work better for you may not work better for potential buyers. Not everyone loves that bright pink paint color — no matter how much you adore it. Make sure any big changes you make will increase, rather than decrease, your home’s value.

On the buying side –

Not researching the neighborhood: Is this some place you really want to live? What amenities are nearby? How is the school district? What does the traffic and street activity look like when you drive by it at different times of day, like Sunday morning and Monday evening rush hour? Although these do not seem like reasonable questions to think about – you will kick yourself later for not!

Buying (or not buying) based on the decor: Paint color can be changed. Tiles and cabinets can be changed. What you want to look at are the bones of the house. Will it meet your needs? Does it flow well? Does it have enough space? Know what your criteria are and stick to it.

Not getting an inspection: This is one of the biggest investments you’ll ever make, and you’ll be living with it for years to come. Don’t pinch pennies — shell out the money for an inspection. Make sure you know exactly what you’re signing up for. This is the tell all if this is the choice to make or not.

Being unrealistic about your DIY abilities: Will you really (truly) want to tear down that wall to make a master suite or gut the entire kitchen to make it work for you? Don’t let too much HGTV and delusions of reality TV get you to buy into an ongoing project you’ll regret taking on.

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public.

Please contact Jennifer Ferri of Title Junction, LLC for further information @ 239-415-6574 or www.title-junction.com.

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Posted on November 14, 2014, in Title and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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