- Location, location, location. You can fix a home's condition, but you can never change it's location..
- Less than 50 years old. Properties older than a half century are likely to have more fundamental problems — like aging wiring, inadequate plumbing and sagging foundations. But when examining a home take care to note the difference between a home's actual age and it's age since it was refurbished or renewed. You may find that a home in Old Town Alexandria which was built in the 19th Century is "newer" than a home built in 1990 in Kingstowne.
- Livable floor plan. Paint and carpet are relatively cheap, but moving walls can quickly get expensive.
- Light. Houses with the most potential have plenty of natural light.
- Good storage. Adding storage isn’t cheap, so it’s smart to choose a property that already has it.
5 Signs a Home Has Potential
The best deals on homes are often on properties that aren’t perfect, but how do you spot a home with potential? These are the 5 factors we've found:
Home shoppers looking for a great deal should keep these factors in mind when they are looking for a place with potential: