Everyone has advice about the real estate market, but not all of that unsolicited information is true. So when it comes time to list your home, you’ll need to separate fact from fiction.
Below we’ve identified the top five real estate myths – and debunked them so you can hop on the fast track to selling your property.
Myth #1: I need to redo my kitchen and bathroom before selling
Truth: While kitchens and bathrooms can increase the value of a home, you won’t get a large return on investment if you do a major renovation just before selling.
Minor renovations, on the other hand, may help you sell your home for a higher price. New countertops or new appliances may be just the kind of bait you need to reel in a buyer. Check out comparable listings in your neighborhood, and see what work you need to do to compete in the market.
Myth #2: My home’s exterior isn’t as important as the interior
Truth: Home buyers often make snap judgments based simply on a home’s exterior. Therefore, curb appeal is very important.
“A lot of buyers search online or drive by properties before they even enlist my services,” says Bic DeCaro, a real estate agent at Westgate Realty Group in Falls Church, VA. “If the yard is cluttered or the driveway is all broken up, there’s a chance they won’t ever enter the house – they’ll just keep driving.”
The good news is that it doesn’t cost a bundle to improve your home’s exterior. Start by cutting the grass, trimming the hedges and clearing away any clutter. Then, for less than $50, you could put up new house numbers, paint the front door, plant some flowers or install a new, more stylish porch light.
Myth #3: If my house is clean, I don’t need to stage it
Truth: Clean and tidy is a good first step, but professional home stagers have raised the bar. Tossing dirty laundry in the closet and sweeping the front steps just aren’t enough anymore.
Stagers make homes appeal to a broad range of tastes. They can skillfully identify ways to highlight your home’s best features and compensate for its shortcomings. They might, for example, recommend removing blinds from a window with a great view or replacing a double bed with a twin to make a bedroom look bigger.
Of course, you don’t have to hire a professional stager. But if you don’t, be ready to use some of their tactics to get your home ready for sale – especially if staging is a trend where you live. An unstaged house will pale when compared to others on the market.
Myth #4: Granite and stainless steel appliances are old news
Truth: The majority of home shoppers still want granite counters and stainless steel appliances. Quartz, marble and concrete counters also have wide appeal.
“Most shoppers just want to steer away from anything that looks dated,” says Dru Bloomfield, a real estate agent with RE/MAX Platinum Living in Scottsdale, AZ. “When you a design a space, you need to decide if you’re doing it for yourself or for resale potential.”
She suggests that if you’re not planning to move anytime soon, decorate any way you like. But if you’re planning to put your home on the market within the next couple of years, stick to elements that have mass appeal.
“I recently sold a house where the kitchen had been remodeled 12 years ago, and everybody thought it had just been done because the owners had chosen timeless elements: dark maple cabinets, granite counters and stainless steel appliances.”
Myth #5: Home shoppers can ignore paint colors they don’t like
Truth: Moving is a lot of work, and while many home buyers realize they could take on the task of painting walls, they simply don’t want to.
That’s why one of the most important things you can do to update your home is apply a fresh coat of neutral paint. Neutral colors also help a property stand out in online photographs, which is where most potential buyers will get their first impression of your property.
Hiring a professional to paint the interior of a 2,000-square-foot house will cost about $3,000 to $6,000, depending on labor costs in your region. You could buy the paint and do the job yourself for $300 to $500. Either way, if a fresh coat of paint helps your home stand out in a crowded market, it’s probably a worthwhile investment.
- Quiz: Should You Renovate Your Home or Sell?
- 9 Listing Photo Do’s and Don’ts
- Small Updates, Big Return: 5 Ways to Increase Your Home’s Value
Originally published April 1, 2014.