25. Buying a house for its décor (furniture, painting, take the dimensions so you know what will fit of yours).
24. Not providing easy access for showings (appointments only, no lockbox, etc.).
23. Not researching the neighborhood – location, location, location - check from 8 a.m. – to 8 pm, parking room, school, go to a community meeting.
22. Thinking auctions are a good deal – maybe starting price is good only, no warranties, guarantees or inspections, could be charges on price, liens, be strict with budget, emotional, do research.
21. Trying to make hard sell at open house and showings, buyers do not like to give feedback directly to sellers, want unbiased feedback.
20. Waiting until spring to sell, that is the heaviest activity period but also the most competition to your property, every day of year = sales, pick the best time for you, play up the time of year you are selling.
19. Treating real estate like the stock market. Not the same, stocks trade hourly.
18. Failing to market your home in different ways – virtual tours, photos, websites, floor plan, radio, etc.
17. Not thinking about resale – plan ahead, personalizing is good to a point, be careful decorating/renovating.
16. Buying without seeing the property is stupid, relocating, risk taker, virtual tours/photos can be deceiving, use a home inspector.
15. Trusting everything in ads. Meant to get you there. Be savvy. “cozy, as is.” If it sounds too good to be true, it probably is.
14. Picking the wrong agent. This is a huge purchase. Do job interview. Use referrals. Talk to sellers of agent. Meet in agent’s office.
13. Not realizing time and effort in for sale by owner process. More than a sign. Not on mls. Agents don’t know it is for sale. No professional involved. Are you available to show the property always? Have lawyer at sale. Not a simple process.
12. Buying most expensive house on the block. Dumb. Other properties bring your price down. Takes long to sell. Research.neighbourhood.
11. Not setting a realistic budget. Emotional process. If pre-qualified, doesn’t mean you will be comfortable with the payments. Take ½ of gross income = mortgage payment. Make a budget.
10. Visiting a house only once before you buy. Not seeing everything. Check it out different days of the week, different times of the day. Drive by different times of day and night. Mind you, if it’s a sellers market, this might be impossible to do.
9. Not being proactive at closing. Signing lots of papers. Get papers ahead of time. Get closing costs ahead of time. Do in a.m. so not rushed.
8. Major renovating before selling – think get more $. Always costs more and takes longer than planned. (pool no) minor upgrades good. Curb appeal is good return.
7. Skipping the pre-approval. Disappointed later. Not waste time. Know what to shop for. Have pre-app letter from your banker/mortgage broker.
6. Falling for 1st property you see. Especially 1st time buyers. Very emotional. Significant purchase. Overpay. See 3 places minimum. Keep in mind; nowadays we ‘look’ at property online as well as in person.
5. Not getting a professional inspection. Problems always not visible to naked eye. Trained eyes. Sellers are showcasing their homes. Get referrals. Get written report and photos.
4. Overlooking hidden costs. Mortgage, furniture, maintenance, taxes, insurance, utilities.
3. Buying what you want and not what you need. Take emotion out of it. Everyone wants a dream house. People spend an average of 9 years in one house.
2. Setting asking price too high. Owners can be greedy. Worth what someone will pay for it. Buyers won’t look at the house if overpriced, even later when it’s reduced. Do research on solds. Once you reduce, looks like something is wrong with home.
1. Not staging/showcasing your house. Viewpoint of buyers. Clean. Decorate. Front and main entrance way. Important. Kitchen – have nothing on the counter. Flowers. Sell quickly and for more $.
hgtv.com