Seeing a Home's Potential

Shopping for a home for the first time can be very exciting. You have a list of “must-haves,” and you think you know exactly what you want and how your new home will look.

The only problem with this approach is that there are sometimes gems that get overlooked due to bad decorating, a neglected yard, or dated carpet and walls. If you can’t see past some more minor details and quirks of a home, you may be missing out on a home with great potential.

We are no longer in a buyer’s market, and many homes are being sold as soon as they are on the market. Being too picky might mean missing out, so learn where you are willing to bend a little on your expectations.

Qualities that can make a home a good investment:

Great Location
You will get a better return on your investment if you find a home that doesn’t necessarily have everything on your must-have list in a great neighborhood than any home in a less desirable neighborhood. Low turnover in a neighborhood is a great sign. Ask around and do your research to determine whether the home is in a good location.

Simple Upgrades and Cosmetic Changes
The home may not have granite countertops, stylish cabinets, or new carpet, but it might be a beautiful home in a great location with a great yard. Look at the cosmetic aspects of the home that you may be able to change or overlook. Envision what the house could be. Ask an interior designer or professional remodeler for their opinions.

A Desirable Floor Plan
Find a home with a basic layout that you like. The floor plan is one of the most important things about your home. If the floor plan isn’t exactly what you want, consider whether you can rearrange it, add on, or remodel at a low cost, and determine if it’s worth making an offer on the home.