Investors simply look at property differently than most of us. They don't see the ugly purple paint in the dinning room, they see a great space that could be a cozy place to host a family gathering. They don't see the stains in the carpet, they find the hardwood floors underneath. They don't see dirty cabinets and old appliances in a kitchen they see how a simple paint job and new hardware will turn an ugly kitchen with a good layout into a great kitchen with a great layout. Investors simply look past the cosmetics in a house and see the layout, the structure, the craftsmanship, and the potential of a property. And the changes above really are not that difficult to do and not expensive to make. The results are outstanding and add a tremendous value to the property. An investor makes their money when they buy a property. They take these things into consideration, are able to convey the changes that need to be made to the buyer and purchase the property at the right price. Anecdotaly it has been said that people are staying in their homes for about 7 years. That data does not show this but I think it is because there are many people who are staying in their homes for a very long time. If you take these outliers out then I think the average does more likely look like 7-10 years before people are moving. This means as you buy a home the typical person should be taking resale into consideration. I believe as a Realtor that it is partially our job to help a new owner estimate these numbers. However it has been in my experience that people are not concerned about this at all and generally do not want to here about it. However if you buy like an investor and buy for location, structure, ease of updating and upgrading, then when it is your time to move into your next home you will have much more equity, a larger down payment for your next home, and the ability to have a much better second, third, and fourth home. You can literally move into your perfect home much quicker and owe much less with a little smart planning and a vision different from most others.
Author:Jeremy Flax Phone: 615-582-0909 Dated: July 18th 2014 Views: 6,649 About Jeremy: ...
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