Looking for a house? That’s great! Before you make an offer on a property, think about selling it.
Sounds crazy, right? You haven’t even bought the place, and maybe you expect to live in the house forever. But thinking through how you’d market a property is an easy way to determine how comfortable you are with its pros and cons. Here are some examples.
Ignorance might not be bliss
Maybe you’re dying to get into a neighborhood and have been searching for months for a place you can afford within its boundaries. Then you come across the perfect place—well, perfect except for that stain on the wall in the bathroom and crack in the kitchen counter.
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Does the stain mean water damage or a bad paint job? Did someone drop a heavy object on the counter, or is the foundation moving? You may be blinded by the location and willing to roll the dice that these aren’t serious issues, but would the next buyer?
It’s not that loud, right?
Potential problems with the structure aren’t the only things that scare aware potential buyers. The house could be next to the expressway or a busy railroad track. It might sit under the approach to the runway at a busy airport or back up to an entertainment district—and Dumpsters being emptied at 4 a.m.
Wait … who can use the yard?
Some properties may have conditions attached to the lot. Maybe it’s an easement so the public utility can access lines that cross your property. Or the house could be on a street zoned for commercial development. Again, you might not care too much about the condition, but the next buyer may care a lot.
Know what you’re getting into
None of these examples automatically disqualify any property from your search. The point is to figure out whether an objectionable aspect of the property is a minor annoyance or a serious concern. If you’d be nervous about listing the house, do more research and consult an expert like a Realtor®.
A Realtor® can assist you in assessing these situations and help you sort through your options, even if that means moving on to the next house for sale.
Learn more about buying, selling, and leasing in Texas at gfwar.org.