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Friday, August 29, 2014
Don't Overlook a Home's Potential
Cosmetic issues are easy to remedy
Home shopping for first-time homebuyers it's an exciting, but sometimes
nerve-wracking experience. If you're like others in the market for their first
home, you probably have in mind exactly how your soon-to-be home will look.
But it's important not to fall into the bad decorating, clutter, and
dirt-bare back yard equals bad-home trap. If you don't see past the hideous
wallpaper, funky light fixtures and avocado green carpeting, you may miss out
on a home with great potential.
And if you're looking for a home in a seller's market where homes are being
snatched up as soon as they go on the market, you'll come to realize you can't
be choosy if you want to make a competitive offer.
One of the first things to do is to get pre-approved for a loan and
determine the maximum you can afford to offer for a house. Don't look at homes that
are asking for more than 10% above your maximum, otherwise you'll be setting
yourself up for disappointment if you find the perfect—but outside your
So what to do?
Most important is the area of the property. It is all about LOCATION.
Secondly; the floor plan of the home is extremely important. If a floor
plan isn't quite to your liking, consider rearranging it or adding on. If
you're looking at an existing home and will need to remodel or expand to suit
your needs, the estimated cost of renovation needs to be considered
when making an offer.
Also, consider the features of a home:
*Walls. While these are among the easiest to remedy, they
also make a huge first impression. If the walls need to be painted, are
covered in wallpaper or are painted a color you find distasteful, picture
them crisp and clean in the color of your choice—that's how they could
look after you paint them.
*View. Things like old, ugly—even dirty—windows and window treatments
can make a view appear less desirable. Those things can be improved, so
unless the only view you have is of your neighbor's garage on the side of
the house, don't get hung up on what is surely a fixable view.
*Landscaping. Your best bet is a moderately landscaped yard because you
can always improve landscaping without spending too much. Worst case, even
if you're looking at dirt, landscaping is one of the easier projects to
tackle. Plus you get to design it however you'd like if you're starting
*Closets and garages. You can never have too much storage space, which
is why so many newer homes have three-car garages. But if you encounter a
converted garage that is now a bedroom or storage room, don't give up.
Converted garages can almost always go back to their original purpose
without much cost or labor.
*Kitchen. The most popular room in the house, many homeowners want
their kitchen to be large and have modern appliances. Don't let outdated
color schemes deter you because there's nothing like a fresh coat of paint
to make a kitchen your own. Plus, if you like the rest of the house enough
to make an offer, you can give the kitchen a minor spruce-up with some new
appliances or a major overhaul complete with new countertops, cabinets,
*The exterior. If the home doesn't have good curb appeal, try to
picture it with a fresh coat of paint and revitalized landscaping.
*Pools. The cost of repairing a pool is less than putting one in, so if
you're looking at a home with an old pool that looks like it's in bad
shape, it's still a better bet than putting one in later.
When making an offer, consider what you can't live without, as
well as your budget. Also, be sure you hire a professional home inspector to
inspect the house. If the home's systems are in good working order and the
house has everything you want except a minor item or two, make an offer
Most importantly, keep in mind that unless you're building your dream home
from scratch, you'll probably never find the perfect home. But seeing past a
previous owner's bad decorating choices to the core of the home and its future potential
will yield you the home you've always wanted.
additional Real Estate information please contact Miriam Engeln, tel: (+297) 7331856.