Endless Potential. Assess It!

Depending on your budget, you may need to look more at the potential of a particular home than the actual structure. In some cases, it is more important that you can modify the home to meet your needs than finding the perfect home as is. This is where the ability to assess a house's potential comes in handy.

Most homeowners tend to remodel within the first 18 months of buying a home. If you can't find a home with everything on your list, find out if remodeling may be an option. Many remodelers will give you an opinion and estimate on a new home to let you know whether your additions or changes are feasible. Be willing to modify a home to meet your needs.

Hang Time?

Another factor to consider when buying a home or considering remodeling one is to determine how long you plan on staying in the home. You don't want to plan any major changes to a home if you aren't going to be in the house more than five years. If you know you are simply buying a starter home to get in the market and plan on moving up to a larger home within five years, be a little more open to your options. The less time you plan on spending in a home, the more open you should be in your "needs" and the less money you should plan on investing in home improvements.

On the other hand, if this is the house you want to spend the rest of your life in, then you need to consider your current and future needs. Look at how convenient and comfortable the house is for mobility. Are the doorways wide enough for a wheelchair or walker? Is there an accessible bathroom on the ground floor? Is there a main entrance into the home that doesn't require steps? If this is your dream house for life, be sure it is a home that can be lived in for life. Many homes are designed for a young, fit, tall male. Unfortunately, this description doesn't fit the majority of the population and it doesn't fit anyone for a lifetime. Consider this when buying your home.

Think & Do Reminders

Wishes, Wants & Needs

Make an itemized list of your wishes, wants and needs. Be sure to include both current and future needs if you plan on staying in the home more than five years.

Wishes:

Wants:

Needs:

POP QUIZ - Potential Counts

Question:

List two reasons you should take the potential value of a home into consideration when buying

Checking Out the Homes...

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