Real Estate News

New to House Hunters?Created by HGTV in 2008, House Hunters follows home buyers searching for a new home with a local Realtor. Every buyer has a different budget, design style, family structure, and lifestyle. Each show features three properties that the buyer evaluates and compares before selecting one to submit an offer. At the end of the show, the show revisits the new owner(s) to see if theyre still happy with their decision and if theyve made any changes or improvements after moving in. While it may be just a reality show, the lessons learned by the buyers can prove invaluable to anyone looking for their next home and for Realtors that need an occasional reminder of how the buyer feels through the process of searching for a home. Last Nights EpisodeOn last nights episode of House Hunters, a retired marine, Rick, and an Accordian Queen, Lena, from Norway finally decided to settle down with their three teenage children on the California coast after years of renting in various countries. Lena wanted a country style home inspired by South Carolina low country charm while Rick was searching for a Spanish style home. List of Must-havesWithin budget of $500,000Hardwood floorsFirst floor master bedroomPrivacy from neighborsPool if the home is inland Home 1 - $463,000 Pros:Near the beachCountry stylePlantation shuttersFormal dining roomPool Cons:Kitchen was too small for the couple to cook togetherToo many projectsNo sign of Spanish style elements Home 2 - $450,000 Pros:Ranch style15 minutes from the beach6 bedrooms, plenty of room for guestsCalifornia/Spanish styleArchitectural elements like the rounded archwaysSpacious kitchen Cons:Rectangular piece of hardwood in the middle of carpeted dining roomCarport6 bedrooms and 2,700 sq ft, too much room for their familyBacks up to neighbors House 3 - $485,000 Pros:Spanish stylePlantation shuttersOpen floor planClose to beachSpacious master bedroom Cons:No poolBacks up to a major roadHighest listing price of the three propertiesAll carpetUndesirable landscaping detail in front of the house The challenge for the real estate agent was to find a home that incorporated two different design styles with hardwood floors, didnt require too many changes, and had enough privacy from the neighbors in a location that was either close to the beach or in the country with a pool. The old age saying still rings true today in real estate, Location, location, location. You can remodel just about any part of a home, but you typically cannot change the location. When Rick and Lena toured the homes, they noticed elements that they did not like and carefully considered whether or not those elements could be changed and, if they could, if it was worth the money to change them. One of the most important steps of touring a home is considering what can be changed and whether or not youre willing to spend the money. You can easily change paint color, flooring, or appliances on a relatively small budget depending on your selections. You can also add or remove walls and rooms and remodel bathrooms and kitchens, but youre going to be looking at more work and higher costs. If you purchased your home below your budget, you have room to make these changes, but if the closing price was at the top of your budget, you may have to accept the house as it is until you come up with extra money to make those changes. *Spoiler AlertRick and Lena chose the third house in the end, closing at $20,000 below the asking price. Nice negotiating skills on the agents part The third house appealed to them, because the style fit with what Rick wanted, a Spanish style home, with country elements like the plantation shutters. They didnt need a pool as it was close to the beach like they wanted and, even though it backed up to a major road, there were plenty of trees to maintain the privacy and block out noisy cars. They replaced the carpet in the master bedroom with tile and have plans on replacing much of the carpet with hardwood. Moral of the StoryThis scenario is a great example of why buyers need to choose a home with pros that are important to them and cannot be easily changed and cons that can easily be changed or have little impact on their everyday lives. Lena insisted on hardwood floors, but decided that those floors could be replaced. Rick wanted to stay closer to $450,000 and, fortunately, his agent was able to negotiate the price down $20,000. An open mind and a skilled Realtor, exactly what you need if you want to find the perfect home This home was purchased and completely remodeled to include updated appliances, granite countertops, new plumbing, an outdoor shower, and more. This particular house was chosen because of the quiet, beautiful neighborhood and proximity to the beach and Myrtle Beach and North Myrtle Beach entertainment. The buyer recognized the potential in the home and knew how to add value with renovations.