Mortgage News

The best deals on homes these days are often on properties that aren’t perfect. Home shoppers looking for a great deal should keep these factors in mind when they are looking for a place with potential:

¨ Location, location, location. It’s still true that you get a better deal when you buy the worst house in a great neighborhood than you do when you buy a fancy house in a not-so terrific neighborhood.

¨ Less than 50 years old. Properties older than a half decade are likely to have more fundamental problems like aging wiring, inadequate plumbing and sagging foundations. Home inspections are extremely important when purchasing less than perfect properties.

¨ Livable floor plan. Buyers should select a home with a basic design they can live with. Once they start moving walls, they’re into big money.

¨ Light. Houses with the most potential have plenty of natural light. Make sure you view the property at different stages during the day so you can assess this situation.

¨ Good storage. Adding storage isn’t cheap, so it’s smart to choose a property that already has it...q

Source: MSN.com