Buying an Ugly Home May Save You a Lot of Money

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When many people begin scouring the market looking for that perfect home, being drawn to aesthetics may be more expensive. Everyone wants to have that perfect dream home and will pay a great deal of money to get into one such residence. However, the glamor of a home may increase the price beyond what is reasonably sensible. Could an “uglier” home be more realistic while saving you money?

How Curb Appeal Affects Buyers

Although many aspects of the yard don’t impact the appraisal value of the property, they can still drawn buyers in and possibly increase the amount people may pay for the home. A lawn of green grass, blooming flower gardens and miniature waterfalls may be incredibly alluring for potential buyers. However, a yard of nothing more than dirt and weeds could decrease the attraction and value of a property while possibly giving you room in negotiations to pay less.

See the Home for What it Could Be, Not for What it Is

When looking for a home, too many people are discouraged by unattractive colors of paint and carpet. Perhaps the rooms smell of pets or cigarette smoke which makes the property unappealing. Although you may have reservations about such a properties, these aspects may decrease the value allowing you to purchase the home for less. By looking at the house for what it could be, you may be able to see past the ugliness that presents itself. In most situations, a quick fix or inexpensive alteration to a room may be all that’s required in order to promote your dream home.

Adding Value After the Fact

If you’re able to look past the ugliness of a home, you can admire it’s beauty before signing the sale agreement. Once you’re in possession of the property, there are many ways yo can add value to the home without spending a lot of money. For instance, a simple can of paint could greatly alter the look of a bathroom or kitchen. Carpet and padding may remove the pet smell of the previous owner. A bag of grass seeds are an inexpensive method to turn that yard of dirt into a green wonderland in the following year. Inexpensive features such as door knobs, faucets, towel racks and more may turn a bland and unattractive room into a perfect setting for you and your family.

Increasing the Value of Your Investment

Many people refer to renovations for selling properties as “flipping” the house. You don’t have to sell the home immediately in order to receive a return on your investment. By purchasing an uglier home and committing to making a few less costly modifications, you may be able to increase the appeal of the establishment for when it comes time to sell the home.

When looking for a home, don’t put too much emphasis on the appearance. A few gallons of paint may alter the house in a profound way. In reality, a house that has a sturdy foundation and overall framework can be modified to fit your needs while giving you a chance to create that perfect look.

 


Categories: Real Estate

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September 24, 2014 Buying an Ugly Home May Save You a Lot of Money