Tuesday, April 3, 2012

Paint or rehab your way in the door, to your dream home

Over the past few years I have seen a lot of house for sale in Olympia, Lacey, Tumwater and our surrounding areas, with past up because they weren't "the perfect home."  I hate to be the one to break this but, there is no perfect house; but with a little vision and a positive attitude there are so many ways to make an "OK" or even an good home pretty near perfect! Sometimes it's as easy as paint, carpets and landscaping.

I remember many years ago, showing a young lady house for sale near Olympia and she had told me exactly what she wanted in a home; so like a great real estate agent I went out toured the homes and found several that I thought were great and one that I thought was perfect for her.  The only problem with the perfect one is the lawn was very overgrown with huge bushes hiding the deary dark brown home.

I met with her the next afternoon to look at first time buyer house in the area and off we went to see seven houses for sale under $150,000.  The home with the overgrown lawn and the dreary brown paint was 4th on our list.  When we pulled up to the house for sale, she wouldn't even get out of the car.  She told me this is not what I am looking for, so we left (the home was vacant so no one was expecting us). She ended up finding a house in Olympia that she really liked and I helped her get it for a great price and she was happy.

We stayed in touch and one day she calls me and said "you won't believe what happened to me!"  Being the great Realtor that I am thought... Oh no, the roof caved in or worse!  She goes on to say, "remember that ugly brown house that you showed me (which at first I didn't but thankfully this wasn't a test)?  Well I went to a house warming party this weekend and it was at that house in Lacey that you really liked and I wouldn't look at!"  Then I remembered.  "They had painted it the cutest taupe color and got rid of all of those awful bushes and guess what? It was absolutely darling... I so wish I would have listened to you... I loved that home!"  We talked for a while longer and then hung up.

I am not telling this story to say that I was right because I wasn't.  I should have politely insisted that you got out and looked at the Lacey house for sale (like I have done with every client since her call).  Then I could have helped her see the home how it could be, not as it was.

Many people think that you have to have a ton of extra money to buy a house in Thurston County that is a fixer for sale or that needs a lot of work. First time home buyers particular think this.  That truth is that if you have the ability and are willing to spend some time you can do it all for pennies on the dollar.  There are also some great rehabilitation loans (203K) that allow you to barrow what it would cost to fix and or remodel the house that is for sell. You can get into some of these loan programs with as little as 3.5% down (which can be gifted) and even get paid to do some of the work.
Many of my investors and home buyers have used this type of loan over the years and have thought that it was great and helped them build instant equity. If you are thinking of buying and would like more information give me a call 360.402.8130 or click here to visit my HomeFinder website.

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