Remember when you were young and excited to be your own boss as a new student at the University? Flashback to that moment, you thought University will be way easier because now you are sixteen years old? Now, remember how your illusion of an easy life at University was long forgotten by numerous lectures, projects and more assignments. Truth is people tend to have a lot of expectations when it comes to new ideas like real estate. The demands of homeowners and buyers often reveal that those expectations often do not align with reality.
Below are some expectations which buyers and seller have about real estate:
Contents
Home Search
You would imagine finding a verified website would be the easiest part of buying a home in the 21st century. You would be surprised how wrong you are due to the high rate of scams online. Â After using a reliable property agency there is another criterion for finding your dream house soon.
Inspection
Most buyers think they just have to visit a few houses to find their dream house. This notion is rarely correct because of the amenities or pricing issues peculiar to the various properties inspected.
Some sellers also think after a few showings their houses will be sold immediately which is rarely true due to factors like the buyer’s budget or buyer’s interest and many more
Time on Market
Most homeowners expect to sell their house within two to three weeks of listing the property and inspection. Unfortunately this illusion often wrong. The reality is that there are other similar properties on the market and due to the competition your house stays on the market longer which may, in turn, lead to the seller to lower the price for the house.
Asking Price
As a seller, you are aware how special your house is but not everyone else has that notion. Â Often time during negotiation the seller might reduce the price for the house especially when it has been on the market for a long while.
Additional cost
Most buyers sometimes think the only money they will spend is the price for the house. They do not realise there are additional costs like inspection fee, agent fee and much more involved in the home buying process.
Some seller also do not realise there are additional costs like agent fee, advetisement and much more involved in the home selling process.
Kindly share your expectation vs reality moment in real estate with other readers!
