3 pieces of real estate advice you should ignore

Whether you’re buying or selling a home, you’ll likely receive a fair amount of advice. Though all of it is likely to be well-intentioned, not all of it will be valuable. Here are three common recommendations that you should ignore.

1. Spend only as much as you can
This sounds reasonable on the surface but figuring out the minimum amount you can spend on a home and still be happy is a much better idea. Spending less on your mortgage each month will allow you to put the money elsewhere and lead a more relaxed lifestyle.

2. List your home above market value
Repeatedly lowering the listing price on a home may suggest to potential buyers that something’s wrong with it. Instead, you should price it as close to market value as possible. If you happen to undervalue it, it’s likely that the market will correct you. In this type of scenario, the seller will receive a lot of competing offers, some higher than the asking price.

3. New homes don’t need inspections
Inspections are essential, even in a case where the home’s just been built and is still insured against defects. It takes time to make repairs, and it’s far better to root out issues before moving in.

Remember, it’s a good idea to always run any advice you get by your realtor. This way, you can be certain that it applies to you and that it’s truly useful.