Courtesy of Eric Manherz

Common Buyer & Seller Misconceptions

These charts show common misconceptions as surveyed by the National Association of Realtors.

CREA (The Canadian Real Estate Association) has an article as well: 7 Real Estate Misconceptions.

https://www.crea.ca/cafe/7-real-estate-misconceptions-debunked-by-realtors/?category=53791

“When it comes to buying and selling a home, there are many opinions on the real estate process. From when to sell to where to buy, how to negotiate and what to look for, there’s no shortage of information being thrown your way. Like with anything, what you read or hear isn’t always factual. Sure, it may be rooted in truths, but things can get twisted. This is why we recommend contacting a REALTOR® to help you on your real estate journey. They’re the experts and can bring a multitude of professional experience, designations, and certifications to the table, helping you navigate an other wise stressful process.”

 You shouldn’t call a REALTOR® until you’re ready to buy

It’s not uncommon to hear people say contacting a REALTOR® is the last step before you’re ready to buy, but in fact, it’s the opposite.

It’s OK to skip a home inspection



Home inspections aren’t mandatory when purchasing a home, but they’re recommended to help protect you in the long run.

 Down payments are the only upfront costs

Saving for a down payment is what most people focus on when beginning their home buying journey —this isn’t a bad thing — but often we forget there are additional costs associated with the purchase of a property, and being unprepared for them could leave you in a tough spot.

 Condos with cheaper fees are always better

Paying additional fees on top of your mortgage can be tough, but it’s not always worth finding the lowest condo fees in order to avoid those costs.

 Your list of wants is the same as your list of needs

Everyone has their idea of a dream home. Big windows! Three storeys! Massive yard! Sprawling kitchen! But every thing you want in a home may be different from everything you need. You might not need floor-to-ceiling windows, but if you have a large family you may need more than three bedrooms.

Never accept the first offer



Offers are not like pancakes —the first one isn’t always a write - off. It’s a misconception that you have to say no to the first offer on your home when selling. Instead, you should be looking at what the potential buyer is actually offering and seeing if it meets your desires.

 Selling a home without a REALTOR® saves you money

Selling your home without a REALTOR® could not only cost you actual dollars, the stress and uncertainty of the pro cess can add unnecessary strife to your already hectic life.

If you have any questions please reach out to us —we’re always happy to speak with you!