Buying your first home? Such excitement stirs your soul as you comb the internet sites for that perfect house!
You want one that is move- in ready and decorated to your tastes. Possibly with granite or solid surface countertops and a fully updated kitchen.
You go see houses and find that they are not all alike. Some need more work than others.
The horror!!! Some are not decorated to your liking or are not updated.
What is wrong with people?
Ok, then when you do find the house that is the closest to suiting your needs, you low ball the offer and also ask for $3,000 in closing costs! And you find yourself outbid by a more reasonable and profitable offer to the seller.
What is wrong with this picture?
HGTV has spoiled buyers into thinking that if a house is not perfect, it will never sell. Or it is not worth a second look.
And some local agents (and media) have buyers duped into thinking they can ask the seller to pay for their closing costs while not offering a fair price for the home. You can’t have it both ways.
It costs that seller money to put in those granite countertops and to make sure their home stays updated before putting it on the market.
You will PAY MORE for the fully updated home.
Let me repeat, your will PAY MORE for the fully updated home. Did I say, You will PAY MORE. Do you get the idea now?
Do you want to know the fastest way to build wealth? SWEAT EQUITY. ELBOW GREASE.
Buy the home that needs a little painting and updating and do the work yourself or just add new items one at a time and pay cash for the updates.
Also, be sure you buy the home that affords you the most space for the money! It is relatively inexpensive to fix cosmetic issues and extremely expensive to add square footage!
Then you also must plan to live in that home for a minimum of 3 years before you sell in order to recoup some of the money back. This is a very important point and not to be overlooked. Plan ahead.
That’s how we first time buyers used to buy. And we have been able to continually move up to a bigger and better home without our payment going up very much, every 3-5 years.
Here at Marksberry Real Estate, LLC we understand the excitement of buying your first home. But we also will be looking out for your wallet and future returns on your most important investment.