Real EstateFrom Horses To Houses – Seeing A Diamond In The Rough

By Terri Seignious, Guest Contributor 

As the saying goes, “one man’s trash is another man’s treasure. ” Last summer while breezing through Facebook posts, one video post in particular captured my attention. It was for a small, Buckskin horse standing in a kill pen in Bowie, Texas who was either going to be saved by someone that day, or shipped to a horrible fate across the Mexican border.

The happy news is that on that day, my heart would not let his image escape me, so “Bucky the Mustang ” was purchased via credit card and late that Tuesday afternoon began what would be his journey to Charleston SC.

Buying Bucky was risky and I am certainly not a huge risk taker. He could have been sick, lazy, or crazy but my intuitions and my knowledge of horses told me he was actually not a huge risk, but a small one. From the video I could see that he had a very soft eye, looked to be in good health, and the handler jumped on his back with no resistance.

As it turns out, 8 months later he is a perfect jewel of a pony. He is gentle, with a bright intuitive brain, and is responding to training and kindness. He has garnered more than a little interest among my equestrian friends and I could have sold him many times over at a very large profit.

So what in the world does “Bucky the Mustang ” have to do with real estate?

As inventory of salable homes has dwindled on the peninsula – and in many other areas in close proximity to Charleston, such as West Ashley and James Island – more and more buyers have gone the route of buying a home “in need of a little work. ” With a little vision for what is possible, and the expertise of an experienced renovation team to handle the updates, there is usually a great home waiting to be unveiled.  

Is there a bit of risk in buying a house for renovation? Yes, of course. As in all things where value is yet to come there is a certain element of risk. The key is to have competent professionals help you evaluate and mitigate the risk, offer suggestions, and most of all protect your money as if it were theirs. We have developed such a group and the proof is in the number of completed projects now under their belt.  Chris Leigh-Jones and his team have a particular talent for evaluating historic homes (as well as older homes in general), to see if the proper bones are there and if the “numbers work ” for a renovation either as a single-family home or investment property.  Luxury Simplified’s team has architects, structural engineers, professional builders, as well as an interior designer on staff and on call.

I have also been impressed with renovations done by our sister company, Luxury Simplified Renovations. These were homes in very bad states of disrepair and quite frankly in many cases, that no one wanted.  The renovations team is skilled at handling updates that can transform an older home into one that includes today’s most desirable design features including opening up the floorplan, creating bright open kitchens, and adding hardwood floors, lighting etc.

So, the lesson from Bucky the Mustang is pretty simple:

• Take a risk. Make it a calculated risk, use your intuition and seek advice from professionals.
• See value where none appears to exist. This is how many of the most wealthy real estate investors in this country have made their fortunes. It is not an emotional decision, but rather a business decision to make with good input.
• The “diamond in the rough ” does still exist. Look at older, or even dilapidated homes in good areas with a different eye.

NOTE:  It certainly is no secret that Charleston has become one of the top travel destinations and that more and more people are making the decision to relocate here and put down roots. For that reason, in this real estate market, buyer inventory is likely to remain at an all time low. But with the help of our real estate and construction teams, we can put all of our experience to work for you to help in finding you your own “fixer upper. ”