The Property Brothers' Tips For Home Buying and Selling
Your home is one of the biggest investments you will make, and taking on the real estate market can be daunting.
- Don't overprice. "All that does is sell other houses in the community," explains Drew. If your home as been on the market and isn't selling, Jonathan says "that's a clear indication that there's a problem. It might have to do with your neighborhood, your house, or the price." At this point, it's best to consult a professional.
- "See past the ugly," Jonathan says. Don't let things you don't love about a house, such as paint or carpeting, dissuade you from buying. Keep an open mind about what can be done to make the space work for you.
- Renovate to resell. Buyers will be looking for a home with value, so don't be afraid to add it. As Jonathan points out, simply replacing the carpet, putting in a new kitchen, or painting is like "putting lipstick on a pig. You're not actually increasing the value of the home because it's still an awkward layout that doesn't work." Hiring a professional to make some major changes can really increase the home's value.
- Freshen the WHOLE house. Some people looking to sell think renovating just one room will seal the deal. But according to Drew, "You're not fooling buyers. They're going to see it's still an old, dated house and they're still going to offer you a lot less than you were expecting." Instead, freshen up the whole space and then put the extra dollars into big ticket areas, like the kitchen or master bedroom.
And to find out what your neighbor is lying about, check out the video above.