Real Estate Myths New Buyers Shouldn't Buy Into
First-time homebuyers experience a steep learning curve when they first begin shopping. However, there are some common home buying myths that can end up making your purchase process more complex and confusing. Here are some common real estate myths that new buyers should be aware of.
1. First floor condos are noisy and unsafe.
Some buyers avoid a nice condo on the ground floor because they're concerned about break-ins and ground-level traffic. However, first-floor condos offer plenty of perks, and when you choose a safe neighborhood and a well-managed building, safety problems are greatly reduced. A good alarm system and basic window covering will do more to increase security than
Some of the great perks of first-floor living include:
- Better access to green space for pets.
- No carrying groceries up the elevator.
- Closer parking.
- Easier entertaining.
Don't write off a well appointed, nicely priced condo just because it's on the ground floor. if you're concerned about noise, noise canceling window treatments can help.
2. Remodeling your house will bring easy money.
Many new buyers purchase fixer-uppers, inspired by HGTV shows showing amazing remodels for exemplary budgets. Some new buyers even purchase with the intent of doing some work and reselling the house at a profit after the remodel.
While this type of investing is possible, it requires skilled research and finding the right house in the right location. Also, remodeling budgets can quickly get out of control. Downward trending markets and neighborhoods can make it even more challenging to sell, even when you've done the "right" remodeling, like updating kitchens and bathrooms.
New buyers are often too optimistic about the cost and return ratio, and they even end up losing money if they choose a dud. A skilled real estate agent should help with your search if your intention is to flip your first home for profit.
3. New is always better.
Many buyers are attracted to listings that feature new upgrades, like new cabinets, windows, or carpeting. However, older homes with more "dated" features should never be a write off for new buyers.
For example, new windows are not all made equal. Plain, cheap vinyl windows are not hard wearing or energy efficient, while hundred-year-old wooden windows that have been maintained and still function are still among the best windows you could possibly have.
For more information on breaking the myths that might be governing your thinking as your shop for your home, contact a real estate agent in your area. To learn more, contact a company like Gail Garriss - Coldwell Banker.