Once, I had clients that bought a big home that needed fifteen internal piers and the tenants had convinced the courthouse to put the home in their name!! Instead of running in the other direction, my clients pursued the house because it was cheap. It took seven months to unravel the issue with the deed with the homeowner suing the tenants and get the piering and other repairs done. It was a difficult, stressful deal.
A couple of years later, the clients called me again because they were going through a divorce and wanted to sell the home. It took over a year to sell despite the fact that they spent a lot of money on repairs, repoured the driveway, put in new windows. It finally sold after a lot of effort during a market where most houses sold in less than two weeks. Why? It was because people generally didn't like the house.
People confuse the two terms, cheap, and value. Cheap houses are cheap because they should be cheap. If it's been sitting on the market for six months, it may happen again at some point in the future when the buyer becomes the seller.
A creampuff is a house that gives one a warm fuzzy feeling and excitement as one walks around. A lot of people will like a home like this, and guess what, you will probably pay market price for it.
My advice is get the home you love, be ok with paying a fair price for it, enjoy having a beautiful home and get on with your life.
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