HGTV versus The Reality of Real Estate Investing
Home and Gardening TV (HGTV) is a great platform if you are looking for home improvement tips. It also has some of the best home searches you may never find anywhere in the world. At HGTV, you will find life hacks like the popular DIY tips. However, when it comes to real estate investing, most realities aren’t captured.
Most of HGTV’s episodes are scripted. While nothing seems wrong with the scripts, such as home improvement and search enthusiasts, inaccurate information may harm the investors. Have a look at these realities that the platform gets wrong;
Real Estate Transactions Are Not A One-Day Event
On HGTV shows, everything, including the transactions, happens fast. It’s like getting to the store and purchasing a piece of furniture. Real estate takes time to transact. Before getting your keys, it may take more than 60 days. That means there are steps that HGTV shows script and miss out on to address their viewers.
Before you acquire a property, there are several steps that you have to fulfill, including;
- Inspection of the property.
- Property title deed search – was it an inherited house?
- Appraisal processes.
- Homeowners Association resale documents.
- Processing of mortgage and its approval.
- Closing processes.
If you rush out as the HGTV depicts, that will be catastrophic, especially with the large sums of money involved.
Realtors’ Work Is More Complex Than HGTV Displays.
Real estate agents have a lot of work to do when it comes to real estate investing. The HGTV show brings you an agent who does not struggle to get a buyer. The buyer comes in and negotiates the price. They then proceed to seal the deal. Real estate agents have to work extra hard to convince a client to seal a deal.
Here are the duties of the realtor before the process is complete;
- Listing the properties for the clients to choose
- Visiting with the clients the properties for sale.
- Scheduling the meetings for the clients and the mortgage professionals.
- Providing information to the client regarding the property.
- Monitoring the entire process of property acquisition from start to close.
Property Renovations Require Planning And Coordination
HGTV displays a host who acquires a home at an auction bay. They skip the acquisition processes and jump onto the contractor’s parts while on the site doing the renovations. The reality of real estate investing includes planning and careful coordination of the whole process.
Before skipping on to the rehabilitation process, you have to get the relevant permits and inspections, procure the contractor by taking bids, and begin the work schedules. This may take several weeks to complete. With HGTV, everything works in a flash which isn’t a reality.
Buyers Are Not Naïve
HGTV portrays a naïve buyer who conforms to whatever the realtor says. Buyers are not naïve, thanks to the real techno-savvy world. They have wide exposure and do their homework before jumping to a realtor. Buyers have their dream homes at their fingertips and even the property price range. Assuming that they don’t know their budgets is a lie.
HGTV misleads viewers through its shows. The reality is that buyers visit different sites before settling on one. They have a budget and know the type of property they want. You will rarely find a buyer who is not knowledgeable about real estate. When they come to realtors, they are looking for professional guidance to lead them to invest wisely.