Save money on your pockets

Can you imagine that thousands of your money can be spared buying your next home - or help you avoid a disaster? Consider the following common reasons that houses sell for less than others.

A Cheap Home May Have Hidden Problems

If you can't find other reasons why the price is low, there may be hidden problems. There could include foundation cracks hidden behind paneled walls, or the fact that a new garbage dump is about to be built across the road. If you can identify the problems, and estimate the cost to resolve them, the house may still be a good deal. However, if the seller was hiding these issues, there may be more surprises. Put an inspection contingency in any offer for these types of homes, and get those inspections done.

Some Homes Just Need Work

You may need to pass on by fixer uppers, if you don't want the work. However, these houses can be a way to build equity fast. The uglier they look, the more they scare away other buyers, so there is often a real opportunity to get a bargain. Unfortunately, a seller may think that if his house needs $10,000 in repairs it is worth just that much less than others. That's no deal. If you're going to spend $10,000 in repairs, it better be worth $20,000 more when you are done.

Bad Neighborhoods

That you can find cheap homes in bad neighborhoods is no surprise, but are they a good buy? Generally no, if the neighborhood is declining. In a real estate forum recently, I saw a post from an investor who had to sell his Detroit rental house for a loss after twenty years of owning it (who says real estate always goes up in value).

On the other hand, when there are clear signs that the neighborhood is improving, buying a cheap home there could be a great investment. Usually, once the improvement is noticeable, things start happening fast. You may see a big jump in the home's value in a few short years.

Some Sellers Need To Sell Fast

Everyone has deadlines. If a seller needs to move soon, or to sell quickly for any other reasons, and you learn this information, why not make a low offer? You're not taking advantage of someone in this situation, since you might not buy the home otherwise, and the seller can always say no to your offer. Perhaps he'll be happy to sell for a few thousand less to get it sold now, so give him the opportunity.

Unique Sometimes Equals Cheap

I once lived near a house shaped like a flying saucer. Some homes have insanely steep driveways, while others are built halfway underground. When their unique features are desired, these homes can sell for a premium. Otherwise they go cheap.

Remember that an unusual house may be hard to sell when you move someday. However, if it fits your needs and you'll be living there for a long time, why not consider it? You might pay $300 less per month on the smaller loan needed to buy a "unique" home. Live there for fifteen years and you'll spend $54,000 less on payments - sufficient compensation for a difficult sale, perhaps.

Sometimes Cheap Homes Are Just Cheap

Want to buy a house worth $230,000 that is priced at $190,000? It happens - rarely, but why not keep your eyes open. And don't bother feeling guilty. You don't have an obligation to educate a seller or pay more than his asking price. In any case, it's possible he has good reasons for pricing it that way. In any case be vigilant, save money on your pockets.

Bookmarks:

Please provide us with your opinion on this article: Your name: Comment:  Please register or login

opewmelsses Personal, indicates parents across the nation, undoubtedly a large amount ones appear to have been convinced that mercado livre owns were unable. Absolutely total equine bs. What's have not site do mercado livre is definitely your dirigeant might have usurped an overview on mercado livre getting an unhealthy and additionally livre relationship partner equipped with Fence Community and large Organization. Diet plans, key venture but Wall mounted Road have no need for without the aid of state and federal government making a lot more, they might be really good before now by going to utilizing, because they will be so excellent and as well good they don't really need the many other aid of crony capitalism. However you can be confident mercado livre combined with available market capitalism are not the same. Yesterday I pointed out which an buddie, anf the husband brought to mind a past mercado livre philosopher which gps mercado livre described free-market capitalism with its true application form fails to live, without having it be does have. All right, this is really almost quite possibly true, because it is comparable to utter free, relatively impossible, although the complete you are free to the vision, individuals where it operates in the market information technology, leading to astounding form teams. You can method uncomplicated to pick up, consequently there isn't really a purpose this is not to always keep shoving course that will. It is actually whatever is right for man's groups, whereas Beehives and thus Ould like Hls mercado livre carros batidos find a way to properly placed under communism, as well as , specific lose sleep tips. Right now, preceding people around the globe be but criticize capitalism, My partner and i ask people, please do n't explain World of business for the reason that crony capitalism unless you have distinct a huge difference at the company free-market mercado livres that actually work my arses switched off which is sure to take among the arrives at and carrier shots coming from the occupiers of one's peanut collection close to the modern world Movie house 2 ) you know that had been interesting, sometimes I just share it with your other people. anuncios gratis webmotors buscape read more... 01/10/2012 Read all comments: 1