How to make your home more like a ‘real estate investment’
In my own house, my goal is to keep the home looking good while reducing costs.
In the past, when I was first starting out in the real estate business, I would often say to myself, ‘It’s hard to make money on a house.’
I thought, ‘Oh, I could do that.’
But as you can see, I didn’t.
I was wrong.
Now, when it comes to selling homes, the goal is always to sell them for more than the asking price.
This is because selling a house for more money is usually a bad idea.
A good deal, in other words, requires a lot of work and investment.
So the best strategy is to sell a house at a good price.
But first, you need to understand what a good deal actually means.
The most important question to ask yourself before you sell a home is: What is a good house for?
What are the advantages of owning a home?
How much money can I expect to make?
How will I pay the mortgage?
Why would I want to buy a home in a market where I know prices are dropping?
If you answer yes to either of these questions, then your answer is a ‘good deal.’
If you say no to any of the above questions, you’re a ‘bad deal.’
This means that a ‘fair market price’ for a home means something very different to what you might think.
When buying a house, you are looking at what it will cost to live in the house, not the price you would be willing to pay.
You’ll often see people who have a ‘sales price’ of $100,000 and a ‘market price’ $80,000.
This is an obvious comparison because they’re both on the same market.
But the real difference between them is that the market price is calculated by looking at the market value of a house.
The market price will always be higher than the ‘sale price,’ which is the price the seller would actually be willing have to pay to purchase it.
What is a sale price?
When you sell your house, a ‘sale price’ is a number that represents how much you would have to spend to buy it for.
You’ll typically find that a good sale price for a house is usually higher than a ‘trendy’ sale price, because there are fewer buyers willing to put down $100K on the house.
You might find that it’s cheaper to sell your home for $200K than it is to buy for $400K.
If a ‘perfect’ sale is $400,000, you might find a house that is worth $300K.
If you have a house you really love, a home that’s ‘just right,’ you might be willing pay $250K for it.
When a home goes for $250,000 or more, you can expect a sale of $300,000 to $500,000 in terms of ‘perfect.’
If it’s a house with lots of issues, you’ll likely be looking at $400k to $600k in the ‘perfect sale.’
You might even be able to sell it for more in the first year than you’d pay to buy.
How do I know if a home I’m looking at is a perfect home?
You should be able do the math on how much money a home would cost to buy and see if the house you’re considering is worth the investment.
This is where the ‘market value’ comes into play.
The best way to know if your home is a potential ‘perfect home’ is to see what a ‘normal’ house would look like.
A typical house in America would have the following characteristics:The size of the house is about 4-6 bedroomsA garage is presentInside the garage is a kitchen, dining room, living room, and bedroomThis is a typical example of a typical home in the United States.
If your home had the following features:The house would have a basement, a garage, and living roomIn the living room is a living room and kitchenThe house has three bedroomsIn the bedroom is a bedroom and dining roomA garage would be presentThe garage would also be present in the living areaA kitchen would be thereThe garage is the only building element in the homeThe kitchen would have three appliances inside and outsideThe house is a 2,000 square foot home, so you’d probably have a garageThere are lots of things that can go wrong with a house in the typical American house, so a ‘regular’ house might look like this: A typical home.
In order to sell something like this, you’d need to know the ‘standard’ house size, the home’s home values, and what the market values of the different types of homes in the market are.
This process of buying a home can be a very