4 Common Myths About Selling Your House in Massachusetts or Connecticut

When it comes to selling your property in Massachusetts or Connecticut, there’s no shortage of counsel available, but it’s all too simple to receive terrible advice that makes the process more difficult than it has to be. Let’s take a look at four prevalent fallacies about selling a house in Massachusetts or Connecticut to see if you’re falling into that bad advise trap.

Renovations Are Key

A large misconception is that totally overhauling a room with a massive renovation is going to lead to crazy high offers. 

What it comes down to is that, in most cases, a renovation is unlikely to pay for itself. This is commonly referred to as return on investment, or ROI. 

If you’re wanting to renovate your house solely for the sake of return on investment, you should start with simpler projects like repairing and repainting your walls, replacing old lighting fixtures, and replacing aged kitchen and bathroom cabinet hardware. 

Worst of all, installing a deck or porch is probably not going to give your home the curb appeal bump that leads to higher offers from buyers. 

At the end of the day, doing a large room renovation may make that one room look spectacular, but it isn’t something that should be done exclusively to get higher offers when selling your house in Massachusetts or Connecticut.

Set Your Asking Price High

For some sellers, the common sense way of pricing their home means shooting for the stars because offers will come in lower than the asking price. This seems like a very simple answer to what can be a much more complicated scenario. 

Choosing an initial asking price can be difficult since you want to strike that sweet spot where you’re earning the most money for your home while still keeping competitive in the local market. Some owners attempt to use online real estate listing websites’ estimates, but this is nearly always a bad idea. 

The best way to set your initial asking price is to look at the final closing prices of similar homes in your Massachusetts or Connecticut area over the last few years. This will give you a clearer picture of what you can expect buyers to spend, and then adjust based on how your local market is doing and the condition of your property.

Take the Highest Offer

As offers start coming in, it can become a bit overwhelming trying to understand everything that is going on. 

Each offer is made up of more than just a price, and you should consider all of its components while selecting which one is best for you. Some offers may include contingencies such as inspections or repairs, and each of these additional conditions will have an impact on how much the offer is genuinely worth once the dust settles.

An offer with a lower price but no contingencies could easily end up netting you more money than a higher offer with a laundry list of repairs and inspections, making that lower offer more profitable when selling your house in Massachusetts or Connecticut.

FSBO Is Cheaper and Easy

Finally, some sellers fail to see the value of hiring a qualified and experienced real estate professional to represent them in the sale of their Massachusetts or Connecticut home. 

Selling your property on your own entails taking care of all aspects of the transaction, including scheduling showings and open houses, completing comprehensive documentation, pricing your Massachusetts or Connecticut home effectively, marketing, and so on. Not only does an agent handle these details for you, but they do it with the market knowledge and experience to do a far better job than you could on your own.

Meeting with multiple agents gives you the opportunity to discover which one has your best interests in mind and would best represent you. Having that agent in your corner will be nothing but beneficial all the way through closing.

Professional Assistance When Selling Your House in Massachusetts or Connecticut

If you’re thinking of selling your house in Massachusetts or Connecticut and want professional help in the process, contact us today at 413-455-0008!