15 Costliest Mistakes of Homebuying and Selling

I always want to make sure I'm offering you the best advice when it comes to buying or selling your home. It's my job to help you understand where the most potential can be found for someone who might be interested. AOL Real Estate constructed a list of the top 15 mistakes in homebuying and selling because what you don't know can cost you — literally.

On the Buying Side

  • Not Researching the Neighborhood: 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?
  • 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?
  • Being Unrealistic About Your DIY Abilities: Will you really 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 grandeur drive you to buy an ongoing project you'll regret taking on.  

On the Selling Side

  • Not Keeping Resale in Mind When Renovating: The custom changes that make your house work better for you may not appeal to potential buyers. Make sure any big changes you make will increase, not decrease, your home's value.
  • Waiting to List Till Warmer Weather: Yes, most people house hunt in the spring and summer, but that's also when most people list their homes. List yours when it's available and you'll reach those buyers who need a home now and aren't finding much on the market.
  • Setting the Price Too High: What your home is worth to you and what it's worth on the current market can be vastly different. Take a good look at comparables in your area to make sure you're being realistic.
  • Not Staging Your House: You need to help buyers envision themselves in your home. This includes removing any clutter and overly personal items (like family photographs) and making sure furniture flows well and demonstrates the purpose of each room.

Click here to see the full list on AOL Real Estate.

Posted on October 24, 2014 at 10:00 am
Steve Harwood | Category: Home Buying, Home Selling | Tagged , , ,

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