When you think of an "affordable home," what comes to mind? Maybe you think of a run-down old place that needs a lot of work, or of an 800-square-foot place that barely leaves you room to turn around. Surely, homes in these categories tend to be cheap. But you don't have to move into a tiny house or a deteriorating place in order to save. Here are some other things that may make a single-family home more affordable.
1. A closed floor plan
These days, open floor plans are very popular. Separate kitchens, dining rooms, and living rooms are a lot less popular than they once were. If you find a home with a more closed floor plan, it will often be priced lower simply because there is less demand for homes with this type of layout. If having more closed-off rooms does not bother you, then you can save a bundle by buying one of these homes.
2. Outdated color schemes
Color scheme trends change so often. One year, mustard yellow is all the rage. The next year, it is all about the color gray. Homes that still have an outdated color scheme usually sell for a lot less simply because many shoppers will walk in, get a not-so-good first impression, and decide not to buy. You can purchase a home with an outdated color scheme quite affordably, spend a few hundred dollars on paint, and enjoy your updated abode for a lot less.
3. Bad carpeting
Stained or worn carpet will turn off a lot of buyers. But this is something else that is easy to fix. You can pick up a home with poor-quality carpet for a lot less, and then either rip the carpet up or have it replaced. Many other buyers won't want to put in this work, which opens up a good opportunity for more flexible people like you.
4. A small yard
So many buyers who want a single-family home have chosen this option because they want a nice yard for the kids or pets to play in. As such, homes with small yards are worth a lot less. If you don't have kids, there's a nearby park, or you're willing to deal with a small yard, you can get a pretty nice home for a lot less.
You don't have to buy a run-down shack to save on a single-family home. You can learn more about your options by contacting real estate agents who can show you single-family homes.