Why buy Ugly Houses? The question should be, why wouldn’t I want to buy real estate that is of average or lower quality, for a much better value? The sad fact is that the general public doesn’t have the knowledge or opportunity to purchase high-end, gated communities with mansions, or neighborhoods that are in desperate need of repair. When I say “receiving better value,” I mean that you have the opportunity to buy real estate at a lower price, and reap the benefits in terms of home values, appreciation, resale value, and additional equity in your home.
There are many reasons to buy low-priced properties. First, many people believe that the only reason that real estate prices are so high is because of how unattractive the properties are. This couldn’t be further from the truth. Many times, the homes that have the highest prices are not really all that ugly, and many times, they are brand new. So, you would be hard pressed to find an ugly home that was on the market that had just sold, for a great price.
Another reason to buy good-looking homes, instead of ugly homes, is that these homes will generally hold their value much longer. The housing market today is not as strong as it once was, and homes are being repossessed at higher rates, which makes these homes difficult to sell at all. You also don’t have to worry about home buyers becoming so fearful that they choose to stay within the home’s boundaries, thus keeping the price of the home at a reasonable level, until the economy turns around. While this may not be immediate, if the economy does improve, then prices will likely increase and home owners will once again be able to sell their homes for a great price.