With so much time spent at home over the past few months, chances are high that you’ve found yourself watching a television show like House Hunters or Property Brothers. Like all reality shows, real estate programs are a mixture of reality and myth. The shows are certainly enjoyable, but the creators of the program definitely take some creative liberties to keep things entertaining.
When you’re preparing to buy or sell your own house, home buying shows become instant favorites. Are you stuck wondering which aspects of your favorite show will actually reflect your own home buying experience? Take a look at these 4 most common myths about home buying, as seen on TV:
Myth 1: Realtors are Optional
On homebuying shows, real estate agents are sometimes presented more as optional tour guides than essential homebuying partners. In reality, real estate agents are the gateway to the best price for the best home for you. Real estate agents are experts at negotiations, paperwork, terminology, and even unexpected home issues or neighborhood conditions that you might not immediately think to check out. If your real estate agent is also a Realtor, then you can rest assured that they are a member of the National Association of Realtors and obligated to uphold certain ethical standards.
Myth 2: You’ll Find Your Perfect Home In One Day
Homebuyers on television shows tend to follow a typical pattern of viewing just a few homes before choosing their dream home. While we would all love for homebuying to be that simple, the truth is that you will likely view many homes before you decide on the home that is right for you. In fact, most of the time, the homebuyers on TV closed on their home long before the cameras even started to roll. The viewing process is usually staged for television, with the homes that aren’t chosen often not even on the market when being filmed.
In reality, finding your dream home takes much more time and patience. This is true for home sellers, as well. Unlike on TV, homes don’t always sell at the open house. Instead, your Realtor will also show your home during scheduled appointments, where it is most likely to sell.
Myth 3: Updating a Home Is Easy and Inexpensive
We’re all familiar with the fixer-upper of reality TV that just needs a wall knocked down before it’s the ideal house. While renovating your own home sounds exciting, this process is usually far more complicated and expensive than television shows it to be.
Some of the things you don’t see on-screen: The extra cost and service of providers like electricians, not to mention the time-consuming permit process for major renovations. In 2019, 68% of millennials surveyed said that they would be interested in a fixer-upper. However, the amount of work that goes into those kinds of renovations is often beyond the wheelhouse of first-time homebuyers. If your plan is to renovate a new home, make sure that you gather realistic information on the work and the cost before agreeing to the purchase.
Myth 4: Your Budget Should be Negotiable
Budgets seem to go out the window on reality TV. In real life, your Realtor won’t try to push you into a home that is outside of your price range and you absolutely shouldn’t feel like you should overextend yourself in order to have the home of your dreams. Your budget is one of the most important things to consider when house hunting. Ideally, you shouldn’t even tempt yourself with homes outside of your price range. If you do, you might end up regretting the buy later on.
Separating Fact From Fiction
The experienced team at VSells & Associates is here to help you wade through the myths and the realities of homebuying. Contact us today to explore your real estate options in the Baltimore area. You can also view our current listings online.