How to Use Flaws in a House to Your Advantage
Unless you are purchasing a brand-new house, you can expect to find flaws in the homes that you view. Therefore, buying a house with flaws is quite common since all homes have some type of flaw. Did you know, though, that you could use the flaws in a house you would like to buy to your advantage? By doing this, you could get an even better deal on a house. Here are some tips to help you learn ways to use a home's flaws to your own advantage.
Find out what flaws the home has
While almost any home you view may have flaws, some will be more obvious than others and some will be a lot bigger than other flaws. As you shop for a house and find one you like, get it inspected and make a list of all the flaws it has—big or small. Next, get quotes to fix all the flaws that in the house. You may even want to get several quotes for each repair needed to make sure you have a realistic total for all the flaws.
Ask for a price reduction based on the flaws
Once you have completed the list, there are several ways to handle using the flaw expenses to your advantage. The first option is to ask the seller to lower the price. For example, if you are buying a house for $200,000 and you find $10,000 in repair costs for flaws, you could ask the seller to reduce the price to $190,000. By reducing the price, the flaws are being accounted for, and this will give you the money you need to make every necessary repair in the house.
Ask the owner to make the repairs for you
The other option you have instead of asking for a lower price is to ask the owner of the house to make the repairs for you. In this case, you could agree to pay the $200,000 if the owner pays for all the repairs listed on the purchase offer you make. In either case, you could get the house with the repairs it needs for about the same price if the seller agrees.
If you are interested in saving money when purchasing a house, this is a good way to achieve your goal. You can learn more about other ways to save money when looking at homes for sale by talking to an experienced real estate agent.