4 Myths about Selling Your Home

If you are planning to put your home on the market, it is wise to know fact from fiction. In today’s market, can you assume you will sell quickly? Do you need to remodel parts of the home before listing it?

Here are a few myths debunked for you:

1. A seller must remodel their kitchen and bathrooms in order to sell.

NO: Today’s market is very “hot” in most regions of the Granite State, and homes are selling quickly - even those in need of updates. New kitchens and bathrooms can increase the value of a home, but you won’t get a full return on your investment costs if you do a major renovation just before selling. Sell now. If your kitchen has decent cabinets and classic selections like granite and stainless steel appliances you already have what most consider attractive.  If you don’t have classic elements in your kitchen or baths, your real estate agent may suggest you price your house according to what it does have to offer.

2. The inside of my home and size of the lot is all that really matters to potential buyers.

NO: Homebuyers make quick judgments based on first impressions, and your home’s exterior is what they first see when they pull up or drive by to take a look at your house before they agree to see the inside. If the property looks unattractive, cluttered, or lacks good maintenance, they may never make the appointment to check out the inside.

3. In this market staging doesn’t matter. All I need to do is clean my house a bit and I am ready to sell.

Probably NO: It always helps to make the house feel like home to the potential buyer. This is called staging your home, and it means making each room as large, bright and airy as possible and appealing to a broad range of tastes while highlighting the home’s best features. For example, clear out clutter and store away large pieces of furniture that make rooms feel smaller. Then, depersonalize your home by removing all the family photos from the wall and making it appear to be “anybody’s home.”

4. I should price my house well above market value since it is a seller’s market.

NO: Buyers and their agents know what your home is really worth. They may be willing to pay more, but not if you demand it from the start. It puts buyers off when you try and sell for more than the home’s true worth. If you price it according to its current market value, it is quite possible a buyer will offer more just to ensure they get the home. Several bids may even come in, raising the offers further in a bidding war, but this typically begins with an honest initial asking price.

The more you know before you sell the better your chances for a successful, quick selling process and one where you get what you are expecting - and maybe more.  Always ask for and take your real estate agent’s advice about how to best price and show your home. He or she has experience and knows the current market conditions for your community.