If your goal for 2013 involves buying or selling Windsor real estate, then here are some common mistakes you don’t want to make. What is particularly difficult in this industry, is taking your emotional self out of the equation. As we have said time and time again, this is always a difficult thing to do as how can you not get emotionally involved with a property. Buyers fall in love with a house and insist that they can’t live without it! And on the other hand, sellers are so attached to their home that during the negotiation process, they can’t understand why a buyer is not offering their full asking price.
Therefore, it’s important to go over what NOT to do when buying or selling a home next year. After all, it’s never a bad idea to get the real estate process rolling on a positive note.
1. Don’t buy a house without researching the neighbourhood:
It is necessary to thoroughly research a neighbourhood before you make an offer. Check out the school system, amenities, as well as the area at different times of the day. What may look okay during the day might have a different vibe at night. Always hire a real estate agent that is familiar with your city and can offer you guidance on what neighbourhoods to avoid and those that are considered a good move.
2. Don’t turn down showings:
As a home seller, you need to make your home accessible in order for buyers to view your home. If you insist on appointments, leave no space to park or snow is left unplowed in your driveway, then buyers will turn around and leave.
3. Don’t wait until spring to sell your home:
While spring is the busiest time of the year to sell a home, that doesn’t mean people aren’t looking now! In fact winter is where you may find less buyers, but they are serious buyers.
4. Don’t ignore social media:
Whether selling your house or buying, social media is a valuable tool in real estate today. No longer are real estate companies depending on print advertisements, but rather properties are promoted on the web. If a real estate agent doesn’t offer this service, then look for one that does.
5. Don’t ignore marketing your home in a variety of ways:
The goal is to find your target audience. It’s not good sales sense to market your 2-bedroom condo to families looking to upgrade. So when hiring a real estate agent, ask them what they will do for your property and whom they will focus their attention. What will set your property apart from the rest?
6. Don’t ignore resale:
Yes, we know. You are buying a house today and have no plans to move for many years, however, think about the location of the home, which you are buying. Is it next door to a commercial center? Is crime high? Is the school district lousy or located too far from your home? Chances are if you are buying in a very questionable area, then it will take longer to sell when you need to, especially if you need to sell immediately. Always stay ahead of the game and wonder what the next buyer will think of your home.
7. Don’t pick the wrong agent:
We always recommend interviewing three real estate agents before making your final decision. Remember that this person is going to work for you, so get recommendations from your friends and family. Always hire an agent that has been in the business for at least a few years and has a strong professional following.
8. Don’t visit a house only once!
Not only should you NOT just visit a house once before making a decision, but also you should visit it at different times throughout the day and evening. Remember, neighbourhoods may be different depending on the time of day and day of the week. What you think is a quiet area, may prove that your next door neighbours like to party loudly on weekends.
9. Don’t buy the most expensive home on the block:
Research shows that buying the most expensive home on the block will depreciate over time. They are usually overbuilt for the neighbourhood so again, research the home and comp prices so you can see what the price point should be.
10. Don’t ignore your budget:
Buyers often get so excited when they see a home outside of their budget that they throw caution to the wind and make an offer. I always suggest that before buyers even set foot into a home, that they have a realistic budget in mind and not ignore it.