Thursday, September 6, 2012

My philosophy on real estate
Here is it, my Jerry Maguire essay. Unsolicited I know.
The old adage of location, location, location is still truer than ever. Buy the worst house in the nicest neighborhood that you can. The nicest school district you can, in the safest area you can. 
Secondly, look past the superficial, the exterior. Go straight to the basement upon opening the door. Look at the foundation, the HVAC system, the plumbing stacks, the electric box. Then the roof, walk around the exterior of the house to look for water damage. These areas and systems can be wildly expensive to fix and could be detrimental to your wallet, not to mention the time and stress involved. As a self-confessed House Hunters-addict, I will never understand the buyers who walk in a house and say, “I don’t like that paint color” or “The house doesn’t face south”. Almost anything can be fixed in a house, with the exception of 2 things: the location and the foundation. Most walls can be moved, faucets changed, tiles glazed. But if the foundation is sliding down a hill, it doesn’t matter if the paints are all neutrals and the house is “modern enough”. Go for quality on the inside (I mean inside the walls and foundation). Good builder and pedigree, quality construction and updated systems. You can work with the rest and make it your own.
Note: This also applies to men.

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