We all, at one point or another, have had the temptation twisted by our senses. Oh, the new car smell – the leather that rolls out when you first open the door. Yes that very smell that instantly blinds us and puts us in the check book/ signing mode with our defensive justification for any counter-intuitive objection on full alert with one main objective; driving away in that new smell.
So it stands to reason that this very same reaction could be the forefront of a decision on a home purchase; especially if you are upgrading and looking for an updated home with character at a reasonable price. Oxymoron? Maybe or maybe not, but it is worth the investigation. My favorite line in selling real estate to buyers – “Today, it’s their problem, after closing, its yours.” One thing that is for sure; in our market, there are no exceptional deals.. Do your homework, listen to your agent, and ALWAYS get your inspections when purchasing an older home – especially if your senses are on fire from the gorgeous granite, stainless steel appliances and new flooring.
The truth of my life in Flipping Houses – when you are talking about older homes, older plumbing, electrical, etc. There is a cost, and the cost is usually substantial. If you are getting into historical, do it for the journey not the profit. If you are purchasing one, the same rules apply – do your home work. Plumbing doesn’t age like fine wine, nor does electrical. Sure, you can dress it up and add a scent of “new car smell”, but that goes away with the first plumbing leak on your new floors that now have to be replaced because they were laminate and looked good but in the bathroom, how practical is that? Just Say’n.
Ladies, it is kind of like getting up in the middle of the night to go to the bathroom, you don’t want to wake anyone up so you leave the light off, and then find yourself butt-deep in cold water because someone didn’t put the toilet seat down. Once you are in it, too late, your wet and the damage is done, but this is only a slight fraction of the anger you would feel if that toilet cost you 200K and was suppose to guarantee a dry hiney. Ok maybe a bad late night example. But you get it. You’re smart. So don’t be dumb.
Read a recent article from the National Association of Realtors.. great advice!