Everybody looks at a home from the point of view of the seller. But not many look at a home from the point of view of a real estate buyer. I spoke to a few real estate investors and from my interactions I was able to gauge the points that a real estate investor looked at when on the market to buy a home.
The real estate investors were unanimous regarding the price factor. They all agreed that a good price was one of the factors that they looked at. But they all felt that the sellers unnecessarily hoped to extract a higher price for their homes. The sellers they felt, forget that the real estate investor has also done his homework and knows the real value of the property. What might seem as a big investment for a seller might seem as an unnecessary expense for the buyer. However, most real estate investors agreed that they always try to walk the middle path if the seller also agreed to take the few steps.
Everyone agreed that aesthetics matter. The look of a house is the first attraction. Though, many said that it was not their only criteria. It served a major purpose as they felt that the seller would have taken proper care of the property. Aesthetics on the outside was not the only factor; aesthetics inside the home was also a major factor when they decided to buy or not to buy. A well looked after house, that includes a well look after kitchen and bathroom gets high marks among real estate investors.
Renovation and remodelling:
Most real estate investors felt that they bought houses to renovate and remodel it to match the tastes of the present. If the home has been already remodelled then it is surely a possible buy for most of them. If it is renovated and if everything looks new then they do not mind paying that little bit extra to get hold of the property. If the home has renovation possibilities and if they need to spend a little then they would like the property to be sold at a discount as these expenses need to be factored in.
Most real estate investors told me that they buy the house so that it will appreciate. It is purely a business deal. Hence they will try to push the seller to sell it at as low a price as possible because they will make their profits only then. They also told me that if the property is in an area that will appreciate fast, then they would not haggle much.
In short, what we can understand is that real estate investors are businessmen and out to make a profit, at the same time the home sellers are also looking to sell their property and make some money in the bargain. Both of them should not be greedy and come to an understanding so that both stand to profit.