WHY IS THAT HOME SO CHEAP???
With the real estate market just like any other market if an item is discounted there is always a reason why. That is why before purchasing any discounted item you should try and understand why it has been discounted before you even consider buying it especially when dealing with real estate. That doesn’t mean you should stay away from discounted homes because they can still be a great investment. There can be a variety of reasons why a certain home has been discounted and learning why will let you know how good of deal the potential property actually is. Here is a list of the top four reasons why a potential home may be discounted.
1.) A Fixer Upper: There are homes everywhere that just need a little TLC and this can often lead to a steep discount when it comes to asking price. These properties can be great investments for those who aren’t scared of a little work and aren’t afraid of the home renovation process. However, be sure to invest in a home inspection to ensure you won’t be getting in over your head.
2.) A Poor Neighborhood: As we all know when it comes to real estate it is location, location, location. A poor location may afford you a steep discount in asking price but these properties can be trouble. People believe that no matter what all real estate will appreciate in value but this is not necessarily the case. The desirability of your neighborhood will have a direct effect on the way your homes value acts.
3.) A Speedy Sale: Sometimes a property will be discounted for the simple reason that the seller just wants a speedy sale. This can be for a variety if reasons from job relocation to needing cash quick. Sellers wanting a quick sale can afford you with some great discounts in asking price. These properties tend to be the best investment when it comes to discounted properties because they typically have the least amount of issues.
4.) A Mystery: Generally the rest of your discounted homes are a mystery and should be handled with the up most caution and care. As we said earlier when something is discounted there is always a reason so deep down there must be something. A seller is required by law to disclose anything that affects the value of the property but just to be safe be sure you and your realtor ask any and all of the right questions.
Rob Thomson
With the real estate market just like any other market if an item is discounted there is always a reason why. That is why before purchasing any discounted item you should try and understand why it has been discounted before you even consider buying it especially when dealing with real estate. That doesn’t mean you should stay away from discounted homes because they can still be a great investment. There can be a variety of reasons why a certain home has been discounted and learning why will let you know how good of deal the potential property actually is. Here is a list of the top four reasons why a potential home may be discounted.
1.) A Fixer Upper: There are homes everywhere that just need a little TLC and this can often lead to a steep discount when it comes to asking price. These properties can be great investments for those who aren’t scared of a little work and aren’t afraid of the home renovation process. However, be sure to invest in a home inspection to ensure you won’t be getting in over your head.
2.) A Poor Neighborhood: As we all know when it comes to real estate it is location, location, location. A poor location may afford you a steep discount in asking price but these properties can be trouble. People believe that no matter what all real estate will appreciate in value but this is not necessarily the case. The desirability of your neighborhood will have a direct effect on the way your homes value acts.
3.) A Speedy Sale: Sometimes a property will be discounted for the simple reason that the seller just wants a speedy sale. This can be for a variety if reasons from job relocation to needing cash quick. Sellers wanting a quick sale can afford you with some great discounts in asking price. These properties tend to be the best investment when it comes to discounted properties because they typically have the least amount of issues.
4.) A Mystery: Generally the rest of your discounted homes are a mystery and should be handled with the up most caution and care. As we said earlier when something is discounted there is always a reason so deep down there must be something. A seller is required by law to disclose anything that affects the value of the property but just to be safe be sure you and your realtor ask any and all of the right questions.
Rob Thomson