3 Reasons You Should Buy the Worst House on the Best Block
Perhaps, in buying a home, nothing is more important than location. There’s a reason buyers and sellers say “location, location, location,”— three times, as if it is the only thing that really matters.
It does matter in so many different levels, especially when it is finally the time to sell. You can have the worst, run-down property with the ugliest bath and kitchen, but put it on a great block with nice neighbours and good nearby school districts, and people will want your home.
To help you fully understand, here are five reasons buying the worst house on the best block pays for itself:
Higher Value in the Long Run
The worst home will probably have a price that’s less than the really nice homes, so it’s a cheap way to get into a desirable area. If you can put the time, energy, and money to fix it up anyway, you can reap the financial benefits you didn’t know you could reap.
Also, folks at Vision One Homes say the nicer homes on the block will pull the value of the rundown house up after you fix it up.
Rebuild the Home Based on Your Preferences
Demolishing the home, rebuilding it according to your wants, and starting again sounds better than buying a readily built home with features you don’t really want. Also, for a rundown home, there’s a good chance that completely demolishing and building afresh will be cheaper and so much easier than trying to revive it.
You Can Change a Home, But You Cannot Change Its Location
You can always renovate, rebuild, or change the inside and outside of a home, but you really can never change its location—at least not without a lot of trouble and expense!
When you buy a home, it’s not only the home itself that you buy, but also the location. Spend your money on buying the best neighbourhood and location your money can afford, rather than sacrificing the location for a nice home.
Location, location, location really does matter—a lot. You can buy a nice-looking home, change the structure, remodel, and alter it, but remember: you cannot move it. The location is permanent; the home is temporary. Choose wisely.