Want to buy the nicest properties for less money? It is possible! We do it all the time, and we’re going to break down the inside knowledge to the secrets of paying less for the nicest propeties.
If you want to get the best possible deal on your next home, it’s pretty easy. Keep reading to learn how to buy your next house under market value.
Which Homes Sell for the Most Money?
Of course, beautiful homes with designer décor, big backyards, and stunning curb appeal will generate plenty of interest in any market. Conversely, ugly houses will often get overlooked, but it’s how you can buy a home under market value. The trick is to see beyond what’s on the surface.
Unsurprisingly, everyone wants the nicest and cleanest houses, so go the opposite route and seek out the less attractive, dirty, and smelly ones —seriously. It may take a little imagination to see the potential in one of these properties, but it’s the first step to buying real estate for less money. If a rundown house is located on a desirable street, moving into a neighbourhood that may otherwise be out of your price range can be affordable.
Check out this Youtube Shorts video with three tips to selling for more money
It doesn’t mean you only look at older homes, although you shouldn’t rule out older properties. Many are in established neighbourhoods and feature larger backyards with mature trees and vegetation that create curb appeal –features that can’t be replicated in newer communities.
A larger lot also offers the potential to add square footage for more living space or that swimming pool you’ve always wanted. Inside, you may find a solid structure with timeless details you rarely see in newer homes, such as claw foot tubs, stained glass windows, and intricate mouldings, to name a few.
Buying a House with a Tenant
Many homes that fall into the under-appealing category are often newer properties. You have to be able to look beyond the scuffed walls, stinky litterbox, piles of dirty dishes, and ugly wallpaper to see the hidden gem beneath. The house may be an ugly duckling now, but you could be the one to transform into a beautiful swan. These homes are also often rented –your real estate agent can sometimes tell which properties are occupied by tenants vs. owners, and this is a great place to start.
First-time home buyers often struggle with this the most because they have never been through cleaning, painting, and decorating a new house, making it more challenging to see the potential. But once you start renovating, you’ll love your new home.
Does Staging Help?
Poorly furnished and decorated houses are instantly forgettable and less appealing. You’re guaranteed to have fewer eyes on these properties, and those who do visit will be less excited than the same house that’s properly staged. You don’t get to keep the furniture and decor, so don’t get caught up in it.
Terrible MLS Listings
Something else to look for is houses that are poorly marketed. If they have few photos, no photos, or poor quality photos, there’s likely been fewer visitors to the house. These homes are frequently surprisingly impressive when viewing them in person. These days almost everyone goes online before visiting a property in person. Listings that fall short of attracting viewers online present opportunities for the few who see in person.
If you’re in the market to buy your first house or upsize your current one, contact us today for a free and no-pressure conversation.
This video was the first in a three-part series to help first-time home buyers, and it touches on the topic of this article.