On either side of the housing market, you need to prepare yourself for the common successes and failures of people who have been in your shoes. Knowing what to look out for when buying or selling a home right from the beginning can help you avoid financial disaster, red-tape headaches, and money pits. Start here if you have plans to buy or sell property in the near future. Build your real estate strategy based on what not to do to pave the way ahead. Increase the value of your home with roof replacement by Mr. Roof.
Lack of a Professional Home Inspection
Home inspections examine the condition of a home in and out, from top to bottom. As a seller, you need to pay for a property inspection to discover repairs or home improvements your home needs before you list. As a buyer, you don’t know what you’re buying without an inspection. Buying a home is likely the biggest purchase you’ll ever make. Don’t invest unless the seller can provide an inspection of the home’s foundation, systems, appliances, etc.
Get an inspection as soon as possible in the selling or purchasing process. As a seller, a prompt inspection can help you avoid surprises, make decisions about what you will and won’t repair prior to selling, and schedule construction services as needed. As a buyer, requesting an inspection from the beginning can help you avoid getting your heart set on a property only to discover it has serious issues. Never skip a professional inspection when buying or selling.
No Appraisal and/or an Unrealistic Price
An appraisal is not the same as a home inspection. They have key differences that make it necessary to get both, not one or the other. A property appraisal calculates the value of the home based on a series of factors, while an inspection lets the buyer know the condition of the home, but not how it may impact value. Appraisals are useful for both home buyers and sellers, as a way to prevent unreasonable or unrealistic prices.
Getting an appraisal can help the seller list the home at an appropriate price and avoid it sitting on the market too long or selling for less than the owner could have received. Getting a professional opinion on how much to list the home can ensure an accurate list price. As a buyer, an appraisal can give peace of mind that you aren’t overpaying for the property. Without an appraisal, the property owner could list the home for more than it’s worth, possibly hiding issues with the property to do so.
Lack of a Professional Realtor
Although hiring a real estate agent isn’t mandatory when buying and selling, it can provide significant benefits to both parties. Working with an experienced real estate agent can make the home buying or selling process faster, easier, and more rewarding. A seller’s agent can take care of processes such as home inspection, maintenance, repairs, remodeling, staging, marketing, showings, negotiations, paperwork, titles, and more on behalf of the property owner. An agent can save the owner a lot of time and effort.
Although hiring a real estate agent isn’t mandatory when buying and selling, it can provide significant benefits to both parties. Working with an experienced real estate agent can make the home buying or selling process faster, easier, and more rewarding. A seller’s agent can take care of processes such as home inspection, maintenance, repairs, remodeling, staging, marketing, showings, negotiations, paperwork, titles, and more on behalf of the property owner. An agent can save the owner a lot of time and effort.
As a buyer, a real estate agent can help you find your dream property, place a competitive but fair bid, negotiate a better price, sell your current home (if applicable), finance your new place, and take care of the legal side of the real estate transaction. Real estate agents typically work on commission, but the services and benefits buyers and sellers can enjoy are well worth the price. Trying to handle the transaction on your own is a common mistake that can cost you in more ways than one.
DIY Home Improvements
Never try to DIY (do-it-yourself) home improvement projects if you plan on ever putting your home in the market. DIY home improvement projects don’t fulfill the high standards of the industry. They may use low-quality materials or unapproved techniques that aren’t safe or durable. DIY projects can lower the value of your home rather than increase it? especially if you accidentally cause damage. Hire a reputable professional builder to complete projects if you want to sell your home for the best value.
As a buyer, think twice before purchasing a house if you can’t verify the professionalism of recent upgrades, improvements, or renovations. If the homeowner’s friend replaced the roof, for instance, it won’t come with any quality assurances or warranties. Protect your investment by shopping for a home with features that come with lifetime transferable warranties. You’ll only find this through professional repairs and installations. An inspection can help you detect DIY repairs if an owner tries to pass them off as professional.
Need more tips on buying or selling your home? Mr. Roof can help with all your property improvement needs. Reach out today.
