Jumping into the real estate world is a tried-and-true pathway to wealth. That pathway, although tested, isn’t for the faint of heart — there are many bumps along the way. Before you start buying, take some useful beginner’s advice from the insiders who have been there and done that.
Check out the tips below to learn about some common real estate myths you need to know before you get into the game.
Tip 1: It’s all about the timing.
Dollar signs are directly linked to the calendar when it comes to real estate. Thanks to seasonal fluctuations, the listing date could increase sellers’ profits — or give buyers a serious discount.
Tip 2: Video made the real estate star.
The online shopping phenomenon has also touched the world of real estate — and over 80 percent of all new home buyers find their new abode online, according to Ben Salem of Ben Salem Properties in Beverly Hills, Calif. His advice? Put that GoPro to good use and give prospective buyers a walk-through of their new, soon-to-be home.
Tip 3: Be wary of home improvements.
Do your homework and learn which home improvements add value to your home, because not all of them do. Be sure to focus on projects that will maximize the return on your investment — think a fresh coat of paint or a new garage door versus a massive undertaking, pricing you out of your real estate market.