How To Spot A Good Buy: Part 1
Beauty is in the eye of the beholder, particularly when it comes to buying a home. Features that attract one home-buyer may repel another.
However, the one feature of interest to every home-buyer is price. Getting the most home for your money is paramount.
The real problem is figuring out whether that fixer-upper on one street is a better buy than the home in next-to-new condition two blocks away.
That’s why knowing what to look for before you buy can save you time, energy and money down the line.
You’ll need to determine how much work is required to make the house you are considering livable.
Make an honest assessment of your fix-it abilities.
How much work are you willing to do or pay someone else to do?
Do you have basic decorating, carpentry and plumbing skills?
If you plan to learn as you go, make sure you have accurately determined what you are getting into.
Ask an experienced friend, family member or your real estate agent for their opinion, and be sure to consider how much remodeling inconvenience the rest of the family can handle.
Unless you are ready and able to tackle a major remodel, look for a house that needs only cosmetic improvements.
These include painting, wallpapering and replacing items like flooring, window treatments, bathroom and kitchen fixtures, light fixtures, cabinet and interior door hardware and appliances.
Remember that even these simple changes can be costly if you have to make many of them.