Housing values were at their all-time low back in 2011, but there are still great deals that can be found today and any day, regardless of whether the overall market is high or low! In order to find yourself a deal, you need to know what to look for. Keep in mind that you are not going to find a deal on a home that is exactly what you are looking for and will require no effort. This just doesn’t happen. You have to be able to see what no one else sees in order to get yourself that steal of a deal.
1) Nasty Landscape – When you walk up to your prospective house, you actually don’t want to see the perfect shrubs and spot-free grass. In order to get yourself a deal, you really want to see some dead shrubs and weeds where the lawn should be. When purchased at the right time, landscaping and grass can be very reasonable and you can do all of the work yourself. Bad landscape can give you a $10,000 break on the property and may only cost $2,000 to fix up.
2) Junk in the House – Some homebuyers absolutely freak when there are random things in the house or if the carpet is lime green. In order to get a deal, you want to look at the flow and blueprint of the house. Where is the kitchen? Is there an accessible bathroom near the front door? How much natural lighting is there? If you have to remove a bunch of junk from the house, you can always contact trailer hire and get it out rather simply. Again, this could save you up to $10,000 on the house price, but will only run you between $500 and $2,000 to bring it back up to snuff.
3) Bad Paint – The paint job on the house is extremely important with a home sale, but as a buyer, paint can be stripped off and redone. If the outside of the house is peach and the inside is bright pink, you should be smiling because you most likely found yourself a deal. If you can buy this house for $30,000 less than its value, then you can pretty simply gain that full value with about $5,000 worth of paint and a little sweat.