10 Reasons to Buy an “Ugly” Home

Homes with great floor plans and awesome curb appeal generate loads of interest from buyers, making these properties easy sellers. By contrast, the ugly house on the block all too often gets ignored by shoppers. But there are many reasons why you should seriously consider buying an ugly home. Read on, so you can train your eye to spot some hidden gems lying in your target neighborhood.

Expanded View >
  1. You Could Get a Great Deal

    Slide 1

    Sellers, in most cases, know what they’ve got. So if they have the ugliest house on the block, they'll likely set a lower asking price, with the knowledge that fewer people will have the imagination to see its potential. If an out-of-date or neglected house has great bones, you could scoop up a diamond in the rough, for the price of cubic zirconia.


    Related: 11 Awful Real Estate Photos—And How to Make Yours Great

    istockphoto.com

  2. Quicker Negotiations

    Slide 2

    The seller of an ugly house knows they’re lucky to get a few bites, let alone a serious buyer. Once you make an offer, they'll most likely speed through negotiations to lock in a contract. That's good news for you—you could be in your new home more quickly than you ever imagined.

    istockphoto.com

  3. You Can Make It Your Own

    Slide 3

    When you buy a home with down-and-out curb appeal, there’s only one way to go—up! Once you get down to rehabbing and renovating, you have the opportunity to choose exactly the materials you want to create a custom look and feel that speaks to you. As you'll quickly discover, the freedom of undertaking a total makeover let’s you really strut your style.


    Related: 8 Red Flags to Look For in a Real Estate Listing

    istockphoto.com

  4. Potential for Seller Financing

    Slide 4

    Banks could be less willing to approve a loan if a home is in bad condition. If a smart seller wants to unload their property—and fast—they might be amenable to holding the note and collecting the interest from you. Not a bad deal for you; dealing with the seller is a lot easier than initiating a mortgage application.

    istockphoto.com

  5. Seller Credits

    Slide 5

    In order to make a sale on an undesirable property, a seller might be more willing to agree to your offer. If you make a good deal, that could include accepting credits that would reduce closing costs, or result in a lump sum of cash to the buyer at closing.


    Related: 11 Myths Homebuyers Should Never Believe

    istockphoto.com

  6. Landscaping Potential

    Slide 6

    Even older homes that are a mess inside often have an upside in the yard. Unlike new homes where new landscaping has not yet had a chance to become established, an old property may have mature trees and plants that will boost curb appeal, not to mention your home’s value, once you’ve updated the facade.


    Related: 25 Plants to Choose for Your Easiest-Ever Garden

    istockphoto.com

  7. Architectural Details

    Slide 7

    Sadly, without proper maintenance, many historic homes fall into disrepair, becoming the ugly house on the street. But inside, valuable architectural details may be hiding in plain sight. Stained glass windows, curved staircases, high-profile moldings, and built-ins are just a few of the treasures that may await you. Once the home's structure has been brought back to life, these historic details will make your home truly unique.


    Related: 15 100-Year-Old Houses That Haven't Aged a Day

    istockphoto.com

  8. Location, Location, Location

    Slide 8

    Location trumps pretty much everything in real estate. If you’ve found an ugly house in a great location (say, close to the beach, or within walking distance to town), you've stumbled into a great investment. Pretty it up and you've got a house that will be worth a lot more—and give you a quicker seller when you decide to put it on the market.


    Related: 10 Signs That Fixer-Upper Might Be a Money Pit

    istockphoto.com

  9. Lot Size

    Slide 9

    An ugly house situated on a big lot could have big potential. Many older, decaying homes are outside of subdivisions where larger properties are the norm. That gives you the opportunity to build an extension to the living space, and create your dream home.


    Related: 12 Things Realtors Look For in Homes of Their Own

    istockphoto.com

  10. Future Home Valuation

    Slide 10

    If you buy the ugliest house on the block and give it a great makeover, the value will rise by a larger percentage than if you’d bought a great-looking home a few doors down. That boost in value gives you the benefit of a greater profit when you decide to sell.

    istockphoto.com

  • Favorites Flipboard Facebook Twitter Pinterest Email AddThis
SEE MORE IN
Buying & Selling Homes

WHAT DO YOU NEED HELP WITH?

Don't Miss