When it comes to buying a property, people often prioritize the location. They say it’s the most crucial factor as you can always change the house but not the location. And there are cases when a property has a great location, but its curb appeal is not appealing. The question is, should you still buy such a property? This blog post will explore the pros and cons of buying a property with poor curb appeal but a great location. Poor curb appeal but great location, should you buy?
What is a curb appeal
Firstly, let’s understand what curb appeal is. Curb appeal is the attractiveness of a property when viewed from the streets. It may include the architectural style, the landscaping, and the colors of the house. If a property has poor curb appeal but a great location, you can use that to your advantage. You can negotiate a lower price than the seller’s asking price if you’re an investor. That’s because the seller might not be getting a lot of interest in the property due to its poor curb appeal. Once you purchase the property, you can make necessary renovations to improve its curb appeal, increasing its value.
Secondly, if you want to buy a personal property, consider how much time, effort, and money you’re willing to invest to improve the curb appeal. Even if you get a good deal on the house, renovations can add up quickly. Consider the expenses of hiring professionals, buying materials, and the time it will take for renovations. If you’re not prepared for that kind of commitment, looking for a property with better curb appeal might be best.
Thirdly, take into account the neighborhood’s property values. If the surrounding houses have great curb appeal and are worth more, you can increase the value of your property with even small renovations. Having a great location can be an advantage in any real estate investment. Properties in desirable neighborhoods tend to appreciate more in value than properties in less desirable areas.
Fourthly, if you’re purchasing a property to rent it out, you don’t need to worry too much about the curb appeal. As long as the property is livable and in a great location, finding a tenant should not be a problem. However, you may have to consider the impact of the property’s curb appeal on the rental price. If the property has poor curb appeal but a great location, you might have to lower the rental price to attract tenants.
Lastly, it’s important to remember that the curb appeal of a property isn’t everything. If you prioritize the location and can see the potential in the property, it may be worth buying. You can always make changes to the property, but you can’t change the location. The location is a significant factor in making a return on your investment; it will attract renters or buyers to the property.
Buying a property with poor curb appeal but a great location can be a good investment if you’re prepared to make necessary renovations and improvements. However, assessing the costs of those renovations and how much time, effort, and money you’re willing to invest is essential. If you’re looking for personal property, prioritizing the curb appeal might be a better option. But location should always be the priority if you’re purchasing a property to invest in or rent out. Remember, location is critical in the real estate market!