Triangle Area Real Estate News & Information

Here are six myths and urban legends about buying and selling a home. We hear these from buyers and sellers every now and then.

Myth: New construction always has fewer problems than older construction.

If only this were true. Unfortunately, not all home builders are created equal. Structural and foundation issues due to the surrounding landscape can start the day a new home is built. If you buy from a reputable builder, you can reasonably expect to get a home with few or no issues. However, there are bad builders out there and construction companies that will cut corners on quality due to tight deadlines and financial problems. Regulatory building inspectors only check for compliance with applicable codes; they don’t assure construction quality. (See also: Thinking About Buying New Construction? What You Need To Consider.)

Myth: Living near power lines will give you cancer.

There’s a popular myth that all electromagnetic radiation causes cancer. The type of fields emitted by power lines and appliances is termed ELF-EMF (extremely low frequency electromagnetic fields).

Here’s what the National Cancer Institute has to say on the subject: “Studies of animals exposed to ELF-EMFs have not provided any indications that ELF-EMF exposure is associated with cancer, and no mechanism has been identified by which such fields could cause cancer.”

Living near power lines can be a detractor and it’s something you should take into consideration from the perspective of property value. But you should be much more concerned about the fact that power lines are an eye sore than about the prospect of getting cancer from them.

Myth: If someone died in your home, you have to disclose that to buyers.

This is one of those legends that has grown over the years as a result of exaggerated stories. In North Carolina, there is no requirement to disclose if there has been a death in a home.

Myth: Condos and townhouses are always harder to sell than single family homes.

Condos and townhouses are different than single-family homes due to the nature of the legal covenants governing them, and this can certainly affect the dynamics involved with selling one. One important consideration: if you buy a condo, make sure that it is approved for FHA financing as this will put you in a stronger position to sell it later. Learn more about the difference between the two here.

Myth: You need to upgrade your kitchen and bathroom before you sell.

A lot of kitchen and bath remodelers would love it if every seller believed this. While kitchen and bath remodeling is a high-ROI improvement in many cases, it doesn’t always make sense. It depends on a lot of different variables—and there may be more critical areas to spend the money. Talk to your seller’s agent before making any major upgrades or improvements. It’s easy to over-improve your home and even make it less marketable if you do it wrong.

Myth: Buyers will ignore things they can easily fix or change after they move in.

If it’s easy to fix, then fix it. If you have rooms with peeling paint, ugly wallpaper or broken fixtures, don’t assume that buyers will do a good job imagining the house’s potential. People form first impressions based on what they see. Buyers decide what to buy based on emotion, not logic. Also, if you have too much furniture or clutter in a room, the room will look smaller and a buyer may find the house less appealing. Thinking of buying or selling a home? Give us a call and we’ll make sure that you have the facts; to maximize the sale price of your home and avoid making mistakes.