Here are 25 mistakes many people make when buying or selling a home:

25. Getting Duped by Decor

Every house on the market will be decked to look its best. Don’t forget to look past the material things though and see the structure of the house for what it is. The decorations may be appealing, but very rarely are they a part of the deal, nor should they be your deciding factor when considering purchase.

24. An Inaccessible Showing

If a potential buyer can’t even get to the house, how are they going to get interested enough to buy? Make sure that adequate parking is available and that access to the house isn’t blocked by debris or other obstacles.

23. Neighbor Anonymity

When buying a house, there’s a lot of research to be done. One particular real estate aspect to research is the neighborhood you are considering moving to.  It’s good to know about the amenities, school systems, and accessibility to resources like hospitals or dentist offices in the area.

22. Going Too Far at an Auction

Houses at auction can be a smart way to invest in cheap real estate, but don’t rely on it. The beginning price of a home can be a steal, but as the bidding war continues, don’t get caught up in the action and end up spending more than you would normally. Another thing to keep in mind: warantees, guarantees, and home inspections are not accessible when a home is sold at auction.

21. Hard Sell, or Hardly Selling?

Current owners of houses for sale are advised to avoid their own open houses, and reasonably so. Leave sales tactics to the professionals who won’t push too hard on the sentimentalities of your home like you might. Experience and tact are some of the key pros of the professionals, like your local real estate agent.

20. Springing for Spring

Sure, spring is busy for buying and selling homes, but that doesn’t rule out the rest of the year. Don’t feel like you have to wait for this particular season just to sell your home at a good price.

19. Treating  Real Estate like Stocks

There are periods when homes are bought and sold quickly, and some people may look to play the real estate market like they would the stock market. But investing in real estate is typically more long-term and should be treated as such.

18. Being Monotonous in the Market

In order to appeal to different target audiences, and to really help spread awareness of your home for sale, you need to use several different approaches. Signs, online postings, posters, and any other suggestions from your local real estate agent can help better sell your home to the right buyer, at the right time.

17. The Wrong Target

When prepping your home for sale, make sure you keep your target market in mind. You want to appeal to as many people as possible. Sometimes research about what’s typical in your current market or what local real estate agents are doing can help further your process.

16. Committing Without Experiencing

We can now use technology to buy a house without physically seeing the property, so it can be tempting not to check out  real estate for yourself before purchase. Pictures online can be positioned in certain ways and be deceiving. If you truly cannot get to a home to see it for yourself, you can hire an inspector to check it for you.

15. Believing Everything You Read

Ads for real estate will list exactly what buyers want to hear. You should never trust an ad to be completely true. Most times, ads will incorporate more subjective opinion than fact.

14. Being Led Astray by an Agent

When looking for a local real estate agent to help in your selling or buying endeavors, interview them thoroughly and research their past selling/buying history. You can ask for recommendations from friends to find an agent and go to open houses or the office to see how the agent works.

13. Going Agentless

Though it may seem like there’s nothing worse than a bad agent, things can get rough and overwhelming without one too.  Without a local real estate agent, you cannot get on MLS and advertise to other agents that your home is for sale. You’ll also be lacking in the experience and wisdom that a seasoned agent can bring to the table.

12. Believing the Priciest is the Most Valuable

The most expensive home in a neighborhood does not mean that it is worth more. Consider that it will only depreciate while the homes around it have the potential to appreciate in value. These homes are also not likely the first to sell since they are typically overbuilt to the neighborhood.

11. Not Making a Budget

You should sit down and plan out a budget before jumping into the real estate market. Prioritize your expenses and see where you have room for moving and a new house. Find a number that you are comfortable paying for a mortgage each month and don’t forget to plan for a little savings and repairs that may need to be done to the new house.

10. Only Visiting Once

It’s always a good idea to see a house more than once during different times of the day to get a real feel for the neighborhood. It also helps to have some time to think it over before making a final decision.

9. Procrastinating

Paperwork can be lengthy and hold up an entire process when buying or selling a house. It may be best to tackle that first thing when beginning the closing process. Keep time frames in mind when closing too. A form that lists all the charges for a home can be obtained 24 hours before closing and it is recommended that closing should be scheduled for the morning so that there’s enough time to review everything.

8. Huge Remodeling Before Selling

When making renovations to prepare for selling, keep in mind that minor upgrades give you a higher return than major changes do. Bigger projects cost more money and may not always pay off in the end, eating into your profits.

7. Not Going Pre-Approved

Pre-approved buyers are good news. Acquiring that bank loan shows that a buyer is both serious, and good for a sell. Some sellers only allow agents to show a home to pre-approved buyers.

6. Falling for the First

Be careful not to fall for the first house you see. It is recommended that you look at three houses, at least, after the first. Staying within the price range while looking at other homes can give you an idea of what you want from a comparable pool of choices.

5. Going without a Professional Inspection

Home inspections can help find hidden problems within a home for sale. The American Society of Home Inspectors can give you a list of local qualified inspectors with good referrals. We suggest that you insist on a complete written report, including photos, when the inspection occurs.

4. Forgetting About Hidden Costs

Don’t forget to keep in mind costs other than the most obvious: the price of the home. You’ll need some funds for the closing process, paying any agents you may use, and any repairs you will have to make before moving into the new home. Even changes in property taxes and gas and electric bills need to be accounted for.

3. Splurging on the Unnecessary

Sometimes when moving, an itch to buy all new furniture and decor occurs. We suggest looking around your home and picturing where all the stuff you currently have will go. If there are unnecessary items, plan to store or sell them. But always take into account what you already have before running to the nearest home store.

2.  Setting Selling Price Up in the Sky

When selling a home, you’ll want to do the research for pricing. Find out what other homes in the area are going for. Ask an agent what kind of pricing leeway your house may have in comparison to those other homes. You want to start with the best possible, and accessible, price because if you start too high and have to reduce, it may appear like something is wrong with the house.

1. Not Showcasing Properly

Try to be as objective as possible when preparing to show your home. People will be turned off by clutter and dirt, so we recommend doing a little cleaning first. You can also prepare by staging your house, decorating with the target market in mind. Some people hire professional stagers to help them out with this. If you’re feeling a little overwhelmed, we suggest starting in the front hallway/entryway and take it room by room. Breaking it down, and sometimes even creating a priorities list, can help motivate and lessen the stress of prepping a home for showcasing.

Article Citation: HGTV Family of Sites. (March 12, 2014.) 25 biggest real estate mistakes, YAHOO! Shine. Retrieved March 16, 2014 from: http://shine.yahoo.com/at-home/25-biggest-real-estate-mistakes-avoid-them-202100124.html.
Picture Citation: http://www.businessinsider.com/how-to-keep-track-of-everything-while-selling-your-old-house-and-buy-a-new-one-at-the-same-time-2012-4