There are countless real estate myths floating around that may vary slightly from place to place, but one thing remains the same no matter where you are. The truth is that many of the most common real estate myths are false.
Most of these myths are harmless, but there are a few that, if taken as truth by either buyers or sellers, can have a large impact on the purchase of a home.
Myth: The real estate market is easily predictable.
Fact: While buyers and sellers both certainly have access to more relevant market information now than ever before, that doesn’t mean that this wealth of information makes the market any easier to interpret. It still takes the experience and knowledge possessed by a professional to understand where the market is and where it is heading. Therefore, it is crucial to work with a real estate professional when you are either buying or selling your home.
Myth: Real estate is a simple business.
Fact: In going with the previous myth, expertise is needed to successfully navigate the real estate industry and to buy your dream home or sell your home at the perfect price. So many people are under the impression that real estate is a simple business when they decide to sell their own home only to quickly realize that they are in over their heads or that their home is taking too long to sell. Real estate is much more complex than most people give it credit for, which is why it is advised to work with a professional from the beginning of the process.
Myth: If your home has energy-efficient features, you can automatically list it at a higher price.
Fact: These types of features do add value to your home, but they don’t automatically correlate to a higher listing price. Most buyers who are looking for a home, won’t be willing to pay extra for a home solely based on energy efficiency. Of course, you might find a buyer who will, but for the most part, buyers will go with a house that is cheaper versus greener. That’s not to say that energy efficiency doesn’t hold any benefit. As a seller, you can promote this feature of your house and it can be used to attract more potential buyers.
Myth: You should avoid purchasing a first-floor condo.
Fact: While many people shy away from first-floor condos for noise and safety concerns, the truth is that you can often get these units for fantastic prices. There are several advantages to owning a first-floor condo that far outweigh the few concerns that can be easily mitigated with minor tweaks and additions.
There are countless other real estate myths that are often believed to be true by both buyers and sellers.
In the end, what you can count on to always be true is that, as a Fort St John realtor, you can trust me to help you through the process of buying or selling your home.
If you are interested in purchasing a home or have found a home you wish to walk through, give me a call today at (778) 256-2888!