Even if you’re not in the market to purchase a home, you’ve likely been exposed to certain buzz words used in ads and other marketing media to get your attention and make you want to see the home. If you are in the market to buy a home, it’s important that you know the tricks of the real estate trade and not get sucked into the hype. Besides wasting your time looking at duds, you may find yourself spending too much money on one.
What to Look Out For
One real estate agent said that words in real estate listings such as “charming,” “fantastic” and “cozy” make the property sound great, but may actually mean something else. For example, the word “charming” may mean that it’s tiny, dark and old.
Exclamation points after the words should also alert you to problems you may find in the home. When “Fantastic!” or “Great neighborhood!” is followed with exclamation points in real estate ads, you can expect to find problems in the house.
Some terms are used by real estate agents who are too lazy to choose something better. One is example is “cozy.” Cozy should alert you to the fact that the house is most likely small. Other terms used in ads such as “gourmet” and “granite” may signal you that the home is going to be higher priced than some others.
More Words, More Money
The top buzz words that are overused in the real estate market include: upgraded finishes, spacious, prestigious, trendy, upgraded finishes, diamond-in-the-rough, sun-drenched, dream house and great potential. All buzz words are designed to grab your attention, help you picture the coziness and trendiness the home offers, and to extract the top selling price from you.
When a real estate agent doesn’t list the size of the home, but calls it “open floor plan,” you might be disappointed to see a cramped apartment where that spaciousness includes the living room, bedroom and kitchen all in one room. You can expect a home that’s advertised as “great potential” or “renovator’s dream” to need repairs or renovation. And, “near transportation” could mean it’s in the middle of a very noisy area.
Find an Agent
Garnering the support of a real estate agent can help you maneuver the complicated path of homebuying. He or she will know the market in the area in which you’re looking and be better able to steer you away or toward a home you’ll love based on the conversation(s) you’ll have. The agent should be familiar with the property and know if buzz words were used to make it seem more attractive, or if the overused phrases aren’t really indicative of the property itself.
These real estate buzz words can be very misleading if you take them literally. But, it does help your real estate agent find out what your requirements are. It’s best to create your own list of adjectives you’d use when finding your dream home. That list can help you avoid the hype of buzz words and save you lots of time on fruitless searches.