5 Real Estate Myths You Should Stop Believing Today

  1. Inspection determines whether a home will pass or fail

Inspection is not to determine whether a house is good or bad, it is more about assessing the condition. Inspection is not limited to old houses, if you are choosing a new construction, an inspection will reveal details about many things. If you’re hiring a professional to perform inspection, expect a summary of the key systems. For example, estimated life of construction, quality of plumbing system, the economic life of the property and associated assets. Inspection doesn’t necessarily mean that the conclusion will be a yes or no. It is a process and the inspector you hire should provide factual details, not assumptions based on the current trends.

  1. Weekends are made for house hunt

It is not true that serious buyers show up on weekends. Those who are ready to buy a house don’t wait for weekends. On weekends people who just want to see how other people live and those who want some design inspiration also start roaming. It also doesn’t mean that if you go for a visit you’ll not be taken seriously during the weekend or the week days. In particular, there is no specific time determined for serious buyers and casual lookers. If you want to buy a house, don’t wait, just visit the place at your earliest opportunity.

  1. Listing websites say it all

So you’ve checked your favourite website where you see hundreds of properties listed and you have found everything you wanted to know. That’s good but wait. Are you going to rely on the web-based information? Do you really feel that the websites like Housing and Commonfloor physically visited the property? Don’t rely too much on a website, instead, go to the place. Such websites are really good at providing all the necessary information you need to filter your need and narrow down your search, but such online tools are never the best valuation tools. If you are planning to buy a house, go there, walk through the place and then decide.

  1. Sellers decide price tag according to buyers

This is one of the biggest myths in real estate and it is true to some extent as well. Only an unprofessional agent and an amateur real estate developer will use such silly tactics where they show different prices for their properties. That’s why you are always advised to hire and work with professionals. Professional real estate developers stick to their pricing plans no matter who comes to them. The difference in closing price suggested by a seller can be a result of additional changes or modifications requested by interested buyers, current market conditions or policy changes. A professional real estate developer will never hide pricing and you can always expect fair pricing from a trustworthy developer.

  1. You can negotiate more on properties sitting in the market since long

It is not at all necessary a fact that the house which is in the market since long is highly negotiable. In fact, things can turn out to be just opposite to this thought. A home which is still available in the market is likely there due to its added advantages such as location, condition, and amenities that determine its asking price. There are chances that some sellers are unrealistic about pricing, but there are some sellers who want the market to pay for the worth because some markets are bound to grow rapidly.

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