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This is a great read by Doug Rogers who understands about price tags and properties. When buying real estate, the "cheapest" house might not be the best deal.
I've bought homes "inexpensively" for the express purpose of flipping. As a licensed general in Oregon (my license is inactive),I know how hard it is to -- actually -- get a home up to snuff.
And then there is always the unexpected. Oh, like the time we were changing out the siding and discovered several carpenter ant colonies . . . which resulted in further damage we didn't know about because carpenter ants colonize in things like: the support beams!
There are many buyer clients with whom I've assisted in buying that "fixer" bank owned property. They had the time, energy and resources to polish the place up. The majority of people don't. And the HGTV shows are not reaity. You can't fix a home in 30 minutes to an hour!
The Cheapest Home Is Not Necessarily The Best Deal--
Buyers these day are value conscience. Heck, after living through the Great Recession most of us are. But let's examine why the cheapest property may not represent the best value.
1) Paying a note on something you hate stinks-- In my early twenties I bought a truck. In looking at three, I went with the one that was 50 dollars a month cheaper. Did I mention this beast had a 4 cylinder engine and weighed just less than the Titanic? And who needs a CD player when a tape deck is in the dash? I regretted my decision more each month as I wrote out the payment.
2) The cheapest usually means the smallest-- Cozy is great for a romantic weekend at the beach. Not so much when you are raising children. Space is something that is not cheap to add after the fact.
3) Buying a fixer may break your budget-- First time buyers often call on foreclosures or distressed properties. With visions of sweat-equity dancing in their head, they envision painting their way into a bargain. Paint doesn't kill mold, nor update electrical wiring. Projects that appear easy have a way of becoming major renovations.
4) Cheap homes often cause bidding wars--In my market reasonably priced homes sell quickly. Homes priced UNDER market value often cause bidding wars. And in the heat of the moment even level headed people sometimes bid more than they should.
When purchasing a home the first step is to meet with a lender. He/she will go over your budget and together come up with a price range. We will then tour homes in that range and hopefully find one perfect for your needs.Who knows, it may even be the cheapest.
Searching for a Top real estate agent in Alexandria Louisiana? Need help selling your Pineville, Louisiana home? Either way call Doug today!
Century 21 Millennium
Century 21 Millennium
donahue Ferry Road
Pineville, La, 71360
Each office independently owned and operated. Equal opportunity housing. Doug Rogers is a licensed real estate agent in Louisiana
EBAPortland ~~ 100% BUYER REPRESENTATION ~~ 100% of the Time
EBAPortland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. If you’re a Buyer in the Metro Portland area (including: Beaverton, Tigard, Hillsboro, Lake Oswego, Downtown Portland,) and contemplating a purchase, talk with a Buyer’s Agent . . . better yet, talk to an ExclusiveBuyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary dutyis: 100% BUYER REPRESENTATION . . . 100% of the Time.
Author Bio: Carla Muss-Jacobs is the Principal Broker/Owner of EBA Portland, LLC an Exclusive Buyer Agency representing Buyers in the Portland Metro real estate market since 1999.
The Sellers have their own agent ~~ Why don't you have yours?
Carla Muss-Jacobs practices the TRUE FORM of Buyer Agency ~~ Exclusive Buyer Agent. Her office/brokerage never takes listings and never respresents the Seller. Exclusive Buyer Agency is the BEST form of legal real estate representation a Buyer can have. There is 100% Buyer Representation - !00% of the Time. There are NO CONFLICTS OF INTEREST and there is no possibility of ever having YOUR Buyer Agency comprised. When buying a house -- it's important to know who is working for you!!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.