Real estate is one of those industries where assumptions form gradually but do not necessarily adjust as the market changes. Referring to misinformation can cost you. Avoid falling for these common NH real estate myths.

Pricing Is Less Important When the Market is Hot

Everyone wants to get top dollar. You hear a lot of buzz about properties receiving greater than the listed price, so you list your home beyond the price of others and anticipate an even better final price. Setting the price too high will be a big error. Comparable homes may have gone for higher than list price given their initial price was competitive. You cannot presume that you will receive above the asking price no matter what price you start with.

Home Repairs Are Always Profitable

This is a very common misconception. Unfortunately, the amount for home improvements is not typically gained back when you sell. Although upgrades do increase the value of your home, the percentage depends on the type and extent of work. Baths and kitchens, for example, often receive more than other rooms.

It Is Better to Offer a Credit Than Complete Repairs Ahead of Time

Providing a buyer credit is not the optimal approach to address vital repairs. Some things impact buyer impressions. Poor buyer impressions influence buyers to offer less. Necessary repairs will often lead to lower sale prices beyond the credit offered.

The Only Thing That Matters is Location

Every city has that great location that everyone wants to buy in. People pay a premium price and assume that it must be a sound investment. However, the high demand neighborhoods are not automatically good investments given prices are commonly near their max. Thus, there might be little space for upward movement. Often times, the transitional locations result in better returns.

Selling For-Sale-by-Owner Will Definitely Save You Money

Dodging a broker fee may not necessarily produce a better profit. Real estate professionals are entrenched in the market and know the best way to position your home for sale. Without that knowledge, you will likely select the wrong price, lose critical marketing time, or fail to get in front of all the buyers looking to purchase. All of this could cause a decreased sale price, possibly less than what you are saving on commission. There might also be other expensive mistakes that you can make along the way when not assisted by an experienced real esetate professional.

Avoiding Common NH Real Estate Myths

Buying a home is a huge investment. When it comes to buying or selling properties, it is important that you are educated and make good decisions. Refer to real facts instead of the common NH real estate myths. Contract with knowledgeable local professionals to assist you through the transaction. This will allow you sell faster, for more money, and with less problems.