What’s Ahead For Mortgage Rates This Week – March 19th, 2018 Last week’s economic news included readings From National Association of Home Builders, Commerce Department reports on housing
5 Home Features You Should Ignore When Buying A Home
I know that while you're looking for a home its easy to overlook one because of some features it has but I wouldn't rule out all homes if I were you. There are some homes that are worth getting REGARDLESS of some specific circumstances that I'll go over with you. We're so fixated on prices that we forget that their could be some good homes out there that you're ignoring because of percieved low value.
Before I get started if your struggling to get a loan for house and you live in NJ / Tri state area you may want to check out the Homebuyer Mortgage Program. I mentioned this program in my post How to Afford a home with Low Income.
Wall Color and Furniture
Homebuyers will get so caught up in features that are low costs/easy to fix endeavors that they forget this and completely skip on a possibly great house. Wall color can easily be changed with just a can of paint and maybe a little elbow grease (you can pay someone for the elbow grease which can still be a low cost)
"The furniture sucks" don't worry about furniture because it's not staying in the house! It will be rid posthaste and you can relax and redecorate your new home.
Arriving to the house all you see is a messy front yards with overgrown weeds, grass and hedges. What do the common people? They keep driving to next home. Don't ignore a home because of a bad looking front of the house. Actually, more homebuyers should be taking advantages of homes that have ugly porches and bad lawn keeping because they can turn out better inside the home.
You can always pay landscapers and repaint an ugly porch, you must look for these hidden gems because it could be you're next dream home. Imagine all the homes that everyone skips on because of bad landscaping and ugly porches. These people don’t even attempt to go in these homes, they skip them all together.
Outdated Kitchen or Bathroom
I won't lie , replacing a kitchen or bathroom is not cheap. Actually, hiring someone to give you an entirely new kitchen (contractor) can cost between $25,000 to $40,000. Conversely, a new bathroom can run about $11,000. Also you might be able to get the house CHEAPER so keep an eye out for details like this.
Being able to take responsibility for the repairs can actually get you a home for much cheaper. Don't fret about that messed up kitchen or bathroom it could be the deal of a lifetime.
Things like HVAC systems, Furnaces, AC condenser etc. Are things that you may overlook when picking a home. Immediately, people will assume that these repairs are a burden but their quite simple and cost effective.
Real Estate investors have no qualms about buying houses that require a major key upgrades. Don’t forget the DISCOUNT , a house coming with a messed up furnace can save you some dough when finally closing the deal on you're new home.
Ugly Doors and Bad Faucets are Welcomed
Like I mentioned above earlier, its common for homebuyers to avoid ugliness like the plague but for a SMART home buyer like yourself you want to be able to get the best deal for a home. You should not avoid a home with bad doors or bad fixtures (electrical, lights or faucets) these features are EASY and QUICK.
Also if you just happened to know any handyman personally that fix these issues for less than your standard contractor then go that router. What if your a handyman yourself? then these are costs you won't have to worry about.
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