House Hunting Checklist Download a free pdf copy of my House Hunting Check list Click here. Also check out what is happening with current market home sales by reading Chris Gibsons Market Watch blog here.
Every home buyer I have worked with over the past 16 years wants to get a good deal on there next home. Getting a good deal when buying your next home is not always the lowest price for the biggest house. I challenge you to look beyond what is obvious. Some of the best deals I have been able to get buyers have been a situation where the seller has over improved the home and are unable to get the money they have put into the property out of it. Any buyer that is getting a loan will have to pay close to the appraised value for the home so if comparable sales will not justify a higher price then the seller is forced to sell at or close to the appraised value.
One of the best deals I have seen a buyer get was a Ranch Home in South East Aurora. The Seller was asking $495,000 for the home. We offered $490,000 and asked for the seller to leave everything they had purchased to finish the basement. Yes the seller was a meticulous man that had spent months finishing the basement and had purchased everything to do so. The toilets, vanity’s, carpeting, tile, drywall, electrical components, lighting, base boards and much much more. The items we asked for was thousands of dollars worth of materials. So at the time the home was really worth $495,000 but the market was a bit slow and the seller had been relocated for work. For him the thought of having to move all of this material was added stress. The Seller accepted our offer. After the sale the buyer finished the basement with the materials left by the seller and the home is now worth over $600,000 . For my Clients Dave and Becky they got a “good deal”!
Other things to consider when trying to get decide and getting a good deal when buying; The builder, the overall area, trends of the area, quality of finishes, quality of construction, quality of the windows, or even the quality of the flooring. How well has the seller taken care of the home? What things can you do to add additional value to the home such as finishing a basement or a complete overhaul of the landscaping, a complete kitchen remodel or enclosing a patio or adding a garage.
One of the best Real Estate investors I have ever known is Larry Bruton. His strategy to getting a good deal when buying homes was to find properties that he could add a separate rental space to. In some urban areas you can find a detached garage with an area above to add in a living space for short term rental.
I hope this helps you with some food for thought when looking for your next home. As always working with a good experienced agents like us here at the Home Team of Denver can help you find these “good deal” homes.
For a free copy of my House Hunting Check List click here.
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