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| Finding Hidden Treasures |
As a real estate buyer, you have a tremendous opportunity for
finding great deals if you look past curb appeal. There is a lot
of talk by real estate professionals and real estate articles
about curb appeal. It is widely known that improving the curb
appeal on a house can get you an extra $10K-$20K+ when you sell
your home. This also means that there is an opportunity for home
buyers to save $10K-$20K+ when you buy a house with less curb
appeal.
When looking for a house with less curb appeal this does not
mean to look for a run down house. It means to find a house that
with a very small amount of work or money can be greatly
improved. By looking for a house with less curb appeal and
improving it, you can afford a house more expensive then |
you
would be able to afford otherwise, and you can gain instant
equity in your new home.
Look for homes that need paint. Paint is very cheap and can make
a huge difference on the inside and outside of homes. An
unpainted house will typically not be as desirable to buyers as
a well painted home, so there is an opportunity to get a good
deal.
Find a home with a messy yard. The yard can have a huge impact
on the curb appeal of a house. Houses with large untrimmed
bushes, dead trees, unmanicured yards, or junk in the yard will
greatly lower the perceived value of the home. Yard work is also
very inexpensive to fix, and can add a lot of instant equity to
your new home. Carpeting and window treatments are also fairly
cheap, and can make a |
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huge difference in curb appeal.
Old porches may mean an opportunity to make a gain. Very often
porches and decks become damaged, rotted, or start sagging
badly. A porch on the front of the house that is badly damaged
can make the whole house appear unsound, when actually porches
have no bearing on the structural integrity of the house. The
porch can have such a negative impact on the way the house
appears that it can lower the value sometimes by more then
$20,000. After talking to a contractor, you may find that the
porch may be fixed for a couple hundred dollars or completely
rebuilt for a couple thousand dollars. This is a great chance to
get a good deal on a house.
There are some things that you should avoid unless you are
looking |
to do a total remodel project. Items that you may want
to avoid are problems with the windows, electrical systems,
plumbing systems, foundations, chimneys, roofs, or floors. Be
sure to have a trustworthy inspection who will alert you of any
more serious problems.
If you want to find a really great deal and are willing to do a
little work, look beyond the curb appeal. If you find a house
that is less then appealing, but structurally sound, you may
have found a hidden treasure.
About the author:
Scott works with real estate agents on the National Real Estate Database and is
the lead developer for the CoreLevel REA a leading real
estate web development platform.
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