3 Big Real Estate Myths
There are many real estate 'rules' that aren't absolute truths across the board! Take a look at these three big ones and get a better idea of what does and doesn't apply to you and your home.
ROI under 100% = A Bad Remodel
It’s rare that a remodeled kitchen or bathroom will result in a complete return on investment, but that shouldn’t necessarily be a deterrent. What people don’t seem to factor into the equation is the fact that, until the day you sell your home, you’ll have the benefit of enjoying the remodel yourself! Let’s say that you get 75% ROI on a remodeled kitchen, but you got to enjoy that kitchen for a year before selling. I’d chalk that up to a win.
Swimming Pools Make It Harder to Sell a Home
No home is going to appeal to every market, but that’s not the point! The point is to find one perfect buyer. If swimming pools don’t appeal to older home buyers, such as empty nesters, then they’re simply not part of the market for that particular property. Families with young kids looking for a home to grow into, a pool could be a huge selling point, especially in warm climates. The point is, and this applies to all features, not just pools, unique features may cut down the number of potential buyers, but that’s ok; it only takes one.
”They just remodeled, we don’t need an inspection.”
Some buyers are under the impression that, if a house was recently built or remodeled, it must have been done correctly, making an inspection unnecessary. This is simply untrue. At the end of the day, you can’t be too careful when making the biggest investment of your life. The exterior and surface may look great, but if the core of the home has issues, you need to know about it.