Myths About Selling Your Home

Some Myths about Selling Your Home

Have you heard this one?

Myth: Kitchens should be updated to resell home.

Redoing a 1920s craftsman-style home's kitchen with granite and stainless steel will not necessarily add to the value of the home, as it won't be in keeping with the style of the home. However, a '62 ranch may be contemporary enough to benefit from the upgrades. The upgrades should maintain the homes' character, so wood-paneled, or colored, appliances may look better in the space.

Myth: An addition to the home helps you sell it.

All too often, additions are poorly planned and/or located, making them a negative selling point. For example, additions which are only accessible going through the bedroom are not wise add-ons for resale purposes.

Myth: Modernizing a home helps with resale.

Homes that by nature are not modern, like an old Victorian or the 1960s ranch, should not be remodeled to look like a brand new home. Like modernizing a kitchen, there are ways to keep the traditional feel of the home, but maintain the character. Sometimes custom products - such as cabinets or trim - are necessary to best fit the decor.

Myth: Walls should be white and carpet should be beige to appeal to a mass market.

With hardwood floors, and thousands of tile options, neutralizing the home to appeal to everyone is not always in the seller's best interest. Following the character and design style of the home benefits sellers more than blanketing the home with neutrality in order to create a non-offensive color scheme.

Myth: A vacant home sells better than a furnished one.

People buy homes based on how they feel when they walk through, and it's hard to fall in love with an empty house. Yes, you can see the walls better or see how big a room is, but removing all the furniture and decorations makes it harder for people to envision their belongs in the room. Don't forget though, a cluttered and over-crowded room can chase a potential buyer away leaving them feeling claustrophobic!  

Myth: Adding a fireplace will have no affect on the future value.

A fireplace is a great investment, and few buyers don't want one. Many buyers insist on having a fireplace - even if they are going to use it only once or twice during the holidays. It's hard - and expensive - to add on later on, so experts suggest including it in the original plan, if building, as it's less costly.

Myth: The laundry center should never be in the basement.

Actually, this isn't as much myth as it is truth. The most popular location is first/main floor in a separate room - having a washer and dryer running in the kitchen is too noisy. People also don't like the laundry in the basement because they have to run up and down stairs all day. As for second-floor laundry,even though this is getting more popular today, some people have concerns about flooding or other plumbing issues.

Myth: A swimming pool adds value to your home.
More buyers than not do not want a pool. Swimming pools can even be a negative factor. While it's nice to imagine coming home and relaxing by the pool after a hard day at work, pools also require maintenance, which means time and money, and also mean more liability for the homeowner. Sellers can spend a tremendous amount of money on the pool and the pool house. If you want to add a pool. do so for your enjoyment but don't expect a return on your investment when you are ready to sell.


Myth: Homes do not sell during the Holidays. 

Actually homes do sell during the holidays. Consider these facts:

People who as home shopping during the holidays are more serious buyers!People who look for homes during the holidays are more serious buyers!

 Serious buyers have fewer homes to choose from during the holidays since many would be sellers pull their homes off the market because they do not realize it is a good time to sell. (less competition means more $$$ for sellers)

Buyers are more emotional during the holidays, so they are more likely to pay a higher price!

Houses show better when decorated for the holidays!Some people must buy before the end of the year for tax reasons!

You can still be on the market and restrict showings during the 6-7 days during the holidays.

Buyers have more time to look at homes during the holidays.January is traditionally the month for employees to begin new jobs. since transferees cannot wait until spring to buy, you must be on the market now to capture that market! 

By selling now you have the opportunity to be a non-contingent buyer during the spring, when many more houses are on the market for less money. This will allow you to sell HIGH and buy LOW!