{"id":5621,"date":"2015-02-10T11:19:52","date_gmt":"2015-02-10T16:19:52","guid":{"rendered":"https:\/\/www.bhgre.com\/bhgrelife\/?p=5621"},"modified":"2022-10-04T10:36:24","modified_gmt":"2022-10-04T14:36:24","slug":"ask-a-pro-qa-buying-an-older-home","status":"publish","type":"post","link":"https:\/\/www.bhgre.com\/bhgrelife\/ask-a-pro-qa-buying-an-older-home\/","title":{"rendered":"Ask a Pro Q&A: Buying an Older Home"},"content":{"rendered":"

Welcome to another installment of Ask a Pro! Today we are talking to Karlton Utter, Director of Learning at Better Homes and Gardens\u00ae Real Estate, about how to determine the price of older or historic homes.<\/p>\n

\"Ask<\/p>\n

Q: We are looking to buy a property built in 1925 that needs extensive work it’s in an area of newer homes how can I get a price comparable so we don’t put in more than we could get out if having to sell later on? It’s a cute Florida cottage on a lake with some history but it is a not like anything surrounding it.<\/p>\n

-Kimberly D.<\/p>\n

 <\/p>\n

A: I would highly recommend hiring a licensed appraiser to do a pre purchase appraisal.\u00a0 If there is a lack of comps available based on location, age, and style the appraiser will be able \u00a0to make adjustments from current and relevant comps to develop a suggested value.\u00a0 If you are trying to come up with a price based off of available comps through your\u00a0real estate professional, I would look at only comparable homes within a 1-2 mile radius and only homes that are under contract or have sold in the past 6 months.\u00a0 If there are no comps available, then it honestly becomes a judgment call. Please keep in mind that a home is worth what a buyer is willing to pay for it so although there may be comps and an appraisal, it is still up to you to determine its value.<\/p>\n

-Karlton U.<\/p>\n","protected":false},"excerpt":{"rendered":"