Yes, bargains are out there, and after you’ve been looking a while, you’ll be able to spot them.As you park across the street from the house on Robin Circle, your agent says apologetically, “Now, I want to warn you: there are a lot of kids in this house, school’s out, and it doesn’t show too well.” Without moving from the car, you can see an old pickup truck in the driveway, a shaggy lawn, rusted toys on the front walk, old flyers beginning to get moldy under the shrubs and a torn screen door. A disaster? No, perhaps an opportunity.When you locate such a house, if it has had decent maintenance (as opposed to housekeeping), then you may have stumbled upon a bargain. Houses that have been rented out sometimes fall into this category. Most buyers cannot see past sloppiness. Perhaps without even knowing why, they’ll feel that “the place doesn’t have good vibes.” As a result, the house on Robin Circle may stay on the market for months and may eventually sell for as much as 10 percent under true market value Conversely, as you walk into a spotless house, try to ignore the smell of baking cookies wafting through the place, your favorite music playing softly, and the flowers on the designer coffee table. Of course, such a house has probably had fine care and it could be a pleasure to move into. Still, when the sellers move out, you will be left with just three things: the location, the floor plan, and the condition. Elaborately decorated model homes are notorious for distracting you with the fluff while little acrylic signs point out included, optional, and decorator features that you may or may not catch as you walk through. They tend to sell the sizzle and not the steak, so pay all the same attention to practicality, value, and suitability that you would with any previously lived-in home. With new homes, pick the sales consultant’s brain and if you’re serious about a particular f loor plan, ask that he or she take you on a personally escorted tour to explain just what the base price of the home really includes. If at all possible, ask to see an empty production home. If all factors—apart from surface appeal—seem right to you, don’t hesitate: act quickly on it. If you hesitate, the next time you decide to get serious about it, the house may have sold. If a home has also been underpriced, quick action is indicated, as described in the next chapter. A properly priced house that shows well and has all the right stuff going for it also sells quickly. In a new home scenario, the builder may have run out of that particular plan and won’t have one until months from now, in the next phase of homes. When it comes to decorating and housekeeping, concentrate on the substance. Pay attention to location, layout, and basic condition. Location can’t be changed, floor plan can be altered only at some expense, but the last factor—condition—can be remedied. Just be sure, if there’s a problem, that you know what you’re getting into. An engineering report can tell you exactly what to expect. |
