The 80 Percent Rule

Real Estate Agent with (Ballenger Realty) 27941

The 80 % rule dictates there is no such thing as a "perfect" home. So, armed with this fact, buyers should bear in mind that there are no 100 percent houses. But there are plenty of homes which offer 80 percent of what you are looking for, as a buyer.

A Realtor friend of mine proposed that the only way to get a 100 percent home is to build it. But, I would suggest this is even difficult, because the location of a home is part of most buyer's wish list.

So, while you may be able to build a 2000 square foot range with all the exact upgrades you want as a buyer, the "perect" setting is all but guaranteed to bump your dream home into the next price bracket.

In reality, only your 1 percenters are likely to be able afford that perfect home in the perfect setting, whether it be ocean front, or river front.

Also, when assessing your criteria, it is important not to talk yourself out of a viable home for an easily addressed item.

Take a fence, for example. It's an easy fix.  A fence generally takes just a day or so to install, depending on size, materials, etc. Wood floors are another example. If everything else in your prospective house works, you can always rip up the carpet and put down some nice wood. I sold a house to some folks just a couple of weeks ago, and one of the first things they did was replace the upstairs carpet with hard wood.

And, remember the 80 percent rule. If you can find 80 percent of what you are looking for, you are doing pretty good. I have yet to see a 100 percent house.


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Keith Strawn
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