Buying a Dated House

-I do whatever I can do not to own the most expensive house on a street. I have found that the most expensive houses on the street do not appreciate at the same rate and are more likely to depreciate more quickly during a bubble. Buying a dated house avoids this problem.

-Of course, the difficulty with a dated house is that there is so much work to be done. My advice is to tackle or deal with one problem or room at a time. It is easy to get overwhelmed, and if this will make you crazy, then you should think twice before buying a dated house.

-Curb appeal is usually the first thing to get attention. Changing curb appeal for a dated house most often involves painting and landscaping. I find I can get a lot of bang for the buck when I address these first.

-See my section on "painting" for some good tips for dealing with dated houses. While I am not a big fan of painted paneling, it is certainly done often and can come out looking better than the dated wood paneling before painting.

-Buying a dated house can mean that a lot of hard work lies ahead, but sometimes it is the only way to get into the neighborhood that you want. Hopefully this website will help you on your journey. Good luck!