HOW TO TELL IF A HOME HAS POTENTIAL

You may not be able to acquire your dream home right away, but many homes have great potential, especially if they have “good bones”. Don’t let bad decorating, dirty walls, worn carpet, and lack of landscaping stop you from seeing the potential.

The location and view are critical, as that cannot (obviously) be changed. Secondly, the floor plan is important. You may be able to add or remove a wall, but overall, it’s imperative that you like the floor plan. Make sure you don’t overpay for the home, as you’ll have additional remodeling costs to make the home the way you want it. Consider the total cost of renovating, and determine what the value will be when you are done.

A fresh coat of paint and new flooring can totally revamp the look, feel, and smell of a home. Consider doing this before you move in. Like walls, carpet or floor surfaces that are old or outdated can easily be replaced. You may even consider asking for a floor covering allowance when making an offer on the home. Washing windows and replacing window treatments can really update a home, as well as doing some landscaping, even if that means basic grass and/or xeriscaping.

Don’t let outdated appliances or older countertops deter you from purchasing a home. These items can easily be replaced. The size and layout of a kitchen, however, can be more difficult to remedy. If your budget doesn’t allow you to replace the kitchen cabinets, don’t hesitate to paint them. Painted cabinets are becoming more popular. Refinishing the wood is an alternate option.

If the exterior of the home doesn’t have good curb appeal, consider a fresh coat of paint or stain, and tidy landscaping. A few perennial gardens are attractive, and while a sprinkler system would be nice, it’s not a priority.

Keep in mind that unless you’re building your dream home from scratch, you’ll probably never find the perfect home. Tastes change, and even your dream home can easily become not exactly what you want. Look at a potential home purchase with an eye of what can be done, instead of focusing on the negatives. It may take a little work, but it’s worth it.