Friday, July 5, 2013

Learn to look past little flaws

There is one thing I can not over-emphasize to buyers looking at homes. That is to look past imperfections that are easily remedied. Too many buyers will eliminate a house because the carpet is ugly or the paint scheme is funky, or maybe it is kind of dirty. These are easy fixes and the things that really matter are those that are irreparable. The neighborhood, the busy street, the nearby airport, structural damage, etc. These are things that a difficult or impossible to repair.

When looking at homes this summer, buyers should try to ignore the ugly carpet or the weird paint scheme in the bathroom. Buyers should look for things like the flow of the floor plan. The kitchen layout. The functionality of the space for the buyer's specific needs. These are things that need to be just right. An interior repaint or replacement of carpet is a relatively inexpensive thing when considering the price of the home.

Many great values can be found in real estate during a rising market. Many sellers jump into the market thinking they can get their price without repainting, carpeting, etc. Their house will not be as competitive with the house that is fixed up. This can result in savings to the buyer in purchase price that is much more than the cost to remedy.

Buyers that buy these very light fixer homes also benefit from the opportunity to use materials and design themes that suit them. In a market with tight inventory like we have right now buyers can not be too picky or they will simply not find a house. The is some urgency as prices rise purchasing power drops. Holding out for a move in ready perfect house might cost a buyer $20,000 more than buying that slightly more used house today.

In conclusion buyers should consider the essential functions and flow of a house as priority over the surface condition. As long as the home has solid bones, is located right and suits the buyer's needs, the superficial stuff is just that, superficial.

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