A typical example would be a 900-square foot bungalow with an addition built on the back or side. Sometimes it’s a well-planned addition that blends in; other times it’s a tacky add-on. Homes in neighborhoods that have become run down owing to a high percentage of rentals or foreclosed properties (although if you’re an investor, buying homes in these areas can eventually turn into good investments).
Homes that stray too far from the architectural mainstream of what people are buying. Typical examples are round or hexagon homes, earth-covered homes, and conversions of other structures such as barns, silos, and sheds. These conversions can be quaint and even featured in a home magazine, but selling them and getting a return on your investment is not always easy. Homes that have site problems, such as steep slopes, gullies, little or no backyard, or lack of privacy from neighbors or street.
Even the way a house sits on a lot can affect its value. Homes painted an unusual or unattractive color. Color can influence a home’s value and cause it not to sell, especially in a slow market. As a buyer this can spell opportunity, though, if that’s the only problem and you can make it a great deal. You can sometimes change an ugly duckling into a swan simply by changing a home’s color scheme.
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