Phoenix and Scottsdale foreclosures are usually perceived as “damaged goods” homes that first time buyers avoid. However, many first time home buyers are wising up to the scene and realizing a home’s full potential—even in its foreclosure state.
Despite a negative first impression, homebuyers are realizing what can be done with a “diamond in the rough” foreclosed home. Many homeowners are learning that gutted kitchens, remodeled bathrooms, pulled up and retiled flooring can transform a “foreclosed home” into a livable abode that qualifies as one of Arizona’s best.
If a new householder doesn’t like the color of a foreclosed home’s walls, it’s very easy to repaint. At worst, all a remodeling usually takes is gutting out a poor quality floor, moving a few walls, and buying new appliances.
In order to control costs, experienced home remodelers (not professionals) suggest searching Craigslist and other free websites for local deals on building materials. It also helps if you have a friend of a friend that knows something about remodeling. This innovative approach to “ugly houses” has helped many first time buyers transform their rundown home into a luxury home worth far more than the $150,000 selling price.
The key to remodeling Phoenix and Scottsdale homes for sale is to visualize the finished product before you get started. Some homeowners remark that using computer software (such as Adobe Illustrator or a commercial home building program) can help tremendously.
Before you conclude that Phoenix or Scottsdale bank owned homes (or foreclosure homes) are not worth the trouble, consider this fact: of all 39,000 homes for sale in the Metro Phoenix area, 14% are bank owned properties, while 42% are pre-foreclosure short sales. With Phoenix, AZ real estate struggling against the recession, home renovation may be the most cost-efficient solution to your problems, not to mention the most practical solution.