Home Buying: How to Recognize a Diamond in the Rough

Whether or not we like it, buying a home is an emotional decision. The trick to finding a diamond in the rough when it comes to home buying is controlling our emotions and recognizing where they are coming from before making judgment calls on the home we are considering. This is difficult often as our emotions make a judgment call for us, often before we even step out of the car to have a look.

Preparation is the first step in taking our emotions out of the game when home buying. If you have already taken some things into consideration, then you may just spot a diamond in the rough. Here are a few things to consider:

Firstly, while we are home buying, we often imagine the dream instead of the reality. Where do you spend most of your time in your current home? I ask this because, more than likely the equivalent room is where you will spend most of your time in the next home too. Maybe it's the living room... maybe the back deck, maybe the kitchen, or even an office. In any case, that is the most important room in the house. When looking for a new home, it will be the most important room in the new house too. Look at things like the view from the room, the amount of furniture, if any that you have for the room, and consider where you will park yourself when sitting in the room.

Secondly, assume that absolutely everyone has horrible taste in comparison to you. Expect that wall coverings and floor coverings will have to be replaced throughout, even if it doesn't turn out that way. Those items are relatively inexpensive and can change the feel and look of a room dramatically. Remember that the current homeowner's taste and furniture are leaving with them, regardless of how great their taste is or how awful their taste is. You will have a bare shell to start from. Floor plan matters more than the look and feel of the room. The look and feel is leaving with the current owners.

Consider the practical things. What sort of pipes are in the home, how old is the roof? What sort of foundation is on the home? How old is the home? What shape are the windows and doors in? These are the sorts of questions you must purpose yourself to ask when looking for your diamond in the rough. Look at the neighborhood around the home. Is it a neighborhood in transition? Long term, do you see it attracting people who are basically like you? If the practical things are in check then make sure you don't write it off of your list for silly things like floor or wall coverings. Once again; those things are cheap.

Keep in mind that if the home needs some work on minor aesthetics, but the bones of the house are good, that the majority of buyers will traipse through the home without making an offer. If the home has been on the market for awhile, it's likely that the owner will be more anxious to give you a good deal, if only to get out from under the mortgage. Any offer represents hope.

A pretty common thing for realtors to do when faced with your budget is to try to up sell you. They will show you what they think to be crappy homes in the price range you mentioned, and then they will show you what you can get for just about $30,000 more. out of your chosen price range, but a complete emotional sell. You are worth that extra thirty thousand to have the dream house instead of the crap house right? At least that's how the real estate agent will put it. Consider what the crap house might look like with $30,000 in upgrades, and then make a buying decision that reflects the practicality of your decision rather than the dream your real estate agent wants you to buy.

Your diamond in the rough is the house no one wants, because they don't see the potential that you see. A house truly is like a family member. We get attached to it easily. We have hopes and dreams for it, and we see out family getting attached to it and each other as a result of it as well. Remember the best dog you ever had? Was it the purebred or the mutt? In my case, it was the little puppy no one really wanted. In the end, she was a beautiful obedient, well loved animal that simply fit me and fit our family. It's amazing what a home can be with just a little love. Consider that in your home buying experience.

May you find a diamond in the rough that enriches your life as much as you choose to enrich its life. Happy home buying!