As we head into the spring season, many begin to think about a new home, fresh renovation or selling their existing home. Lately, we have been hearing from clients and friends that they watch home renovation shows on networks specializing in home searches and sales.
We, too, at The Goodhart Group have a slight addiction to these types of shows, but what person in the real estate industry isn’t interested in all things to do with the home? However, we have begun to notice a slight impact this type of television is having on our clients. Many have looked toward home renovation rather than selling as an option and even want to try it themselves as they have seen many do on television.
While we love the idea of customizing your home to what you need, make sure that you do your homework and understand the time and money it takes to renovate. Remember, television has the beauty of editing, but in real life these things can drag on for more than an hour-long episode.
We suggest touching base with a professional, whether that is a contractor or an experienced Realtor, to get their thoughts on what can be done to your home. Often, real estate agents can be a great resource because they can provide guidance or suggestions on what updates will add the most value to your home from a resale perspective. Countless times we have walked into remodels and immediately realized that due to poor design and constructions decisions, the homeowners may never see their money back.
In addition to renovation being a topic of conversation, we have also noticed a different attitude from home purchasers in the way they search for homes as well as the offers they submit.
While these types of shows provide a fantastic glimpse into the real estate transaction, prospective buyers must always keep in mind that these are different markets and we never know all the details of the home being purchased. At the end of the day, it is TV where prompting from producers and edits create a vision of a house hunt or home purchase that may not be entirely accurate.
Although we would love the ability to cut, paste and delete some scenarios in life, it’s just not going to happen that way. In the end, we can’t get enough of this type of television ourselves. Just remember that it is always smart to consult a real estate professional in your market before making any drastic decisions.
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