Home Flaws A Buyer Should Ignore

As homeowners, many of us learn to live with out-of-date wallpaper, “tired” kitchen appliances. These and other flaws sit on the to-do list until money, spare time and inclination are just right, and wonder why we didn’t do it sooner.
But as homebuyers, many of us, save a few diehard do-it-yourselfers, turn into perfectionists. After all, who wants to shell out hundreds of thousands of dollars for a home that needs work right away?
But that attitude can be self-defeating, causing buyers to pass up good homes over trivial issues, says HSH Associates data firm. Many “dated” features found in older homes are easy to update.
Eight examples that are fairly easy to fix are: Unappealing paint, outdated wallpaper, tired kitchen cabinets, unfashionable wall to wall mirrors, drab curtain treatments, broken air conditioners or furnaces, missing closet doors and discolored grout.
Minor flaws can be turned to the buyer’s advantage. Because it’s a buyer’s market, many buyers are especially picky, inflating concerns over small defects, and sometimes keeping homes that have them on the market longer. The savvy buyer can therefore use the flaws to negotiate a lower price.
So what are the key issue to consider in a home purchase? Price and value are obviously paramount. The price must be something you can afford even if you suffer a setback, like one spouse losing a job. And the price must be in line with those of comparable homes nearby, else you could lose money if you have to sell sooner than planned.
Some flaws are very costly to remedy. Homes with these should be purchased only after consulting contractors, so the price can be adjusted.
If the neighborhood is good, the commute to work is easy, the schools are sound and the local economy healthy enough to shore up home values, a little dirty grout or tacky wallpaper should not be allowed to blind you to the real value underneath.
Complete article can be read right here…Home Flaws A Buyer Should Ignore, by Jeff Brown
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