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Are You Down with Real Estate Slang?

For Sale and Real Estate TermsHere’s a list of some real estate “buzz words” and what they really mean:

Cozy: Snug, comfortable, and homey are the dictionary definitions. But in real estate speak,  it means tiny and cramped.

Charming: Could be old. The home might look cool, but we’re talking period detail from the early 1900s. Think repair and renovations.

Starter home: Makes owning a house sound easy, right? Not really. A starter home is priced for first-time buyers on a limited budget. Standard starter homes are smaller, older, and need a more than a little TLC.

Lots of potential: Might mean it’ll only reach its full potential with 100 hours of renovation and a lot of money.

Conveniently located: Sure, a condo or apartment might be near restaurants or a train station. It could also be near a busy intersection, nightclub, or hospital.

In original condition: We’re likely not talking antiques or classic paintings. A house in original condition could mean outdated appliances or building materials and will need significant updating work before move-in.

Unique: Code for hard to sell. If a previous tenant painted the walls hot pink, it’s unique, but chances are low that buyers will be impressed. The term’s relative – one person’s ‘unique’ is another person’s ‘blah.’

Motivated seller: The house has been on the market for awhile and the seller is flexible on price.

Must-see inside: “Yeah, we know the outside is unappealing, but the inside is better, we promise!’’

Sold as is: The seller won’t be doing any renovation work, so don’t ask.

Good for entertaining: It’s likely the home has an open floor plan, for example a kitchen that flows into the living room.

Spacious: Could be an open floor plan or more square footage. But size is all relative.

Go and see a place before you sign on the dotted line. Surprises are never a good thing when you plan to call a place home.

For assistance if buying or selling a home, contact a Tauber Real Estate Services specialist today at: 561-623-5480

 

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