What to Look for to Get a Discount on a Condo Purchase

Instead of looking for your dream home are you looking for a great discount? Many first-time buyers simply look at the outside surface of a property rather than really digging deep to get exactly what they want at a great price. It’s easy to be distracted by great staging and a beautiful home and many people simply walk away from homes that need a lot of TLC, but are you missing a great home in the process?

Real estate professionals that are familiar with homes that have been flipped or turned around for a quick profit understand that a coat of paint can go a long ways. But, the house itself may need a lot of work. It looks like it’s only been cosmetic and the home is overpriced because of it, you might consider looking for a home that has better structure and bones, but has not had any cosmetic work done.

Just a few thousand dollars worth of touchups can convert into tens of thousands more are paid by unsuspecting buyers. This is great for the seller but kind of a rip off for the buyer.
If you are the type of buyer that would prefer to invest your money in the best possible location and a solid structure, you might benefit from what looks like a disaster but is actually a really solid home.

The only way to do this is to have a real estate agent that understands your needs and what you are really looking for. From there, you can get a home inspection, ideally by the structural engineer, to verify the integrity of the property and any renovations that may be needed. From there, you can calculate how much the home is currently worth, how much you will be putting into the home, and how much you could get out of it with the structural repairs.

Things that can really turn off buyers including smell, ugly colors or tasteless decorations, are really just cosmetic issues that can be easily fixed when you purchase the property. Condominiums that don’t look like something out of a magazine can have a benefit of a cosmetic overhaul and will sell for a lot more in the future but in the meantime, could score a great deal for the current buyer.

Buyers that are ready to contribute sweat equity into their purchase could end up with thousands of dollars in the end.

If you are looking for a condominium in Panama City Beach try not to be deterred by these cosmetic issues:

  • Crazy colors
    Tired and outdated materials
    Bad odors
    Odd design
    Overgrown yard

If you do a little bit of your own homework you can turn a visual disaster into your dream home and score a great deal.

For more information or for a list of properties that might fit your search criteria and price call my office today. Let’s find a great deal in Panama City Beach.