If you’re thinking about buying a home, you’ve probably developed a pretty clear mental picture of what your new home should be like. But remember that even a home that’s not in ideal condition can still have great potential.

Here are some tips to help you look beyond bad decorating, old carpet and ugly wallpaper to see a jewel in the rough:

• The floor plan is extremely important. Look at entrances and exits, where the rooms are located and how foot traffic will flow throughout the home. A good floor plan is worth a lot, especially when you consider the cost of changing it.

• Walls and floor coverings make an important first impression. Paint is relatively inexpensive, so imagine the walls in the colors you would choose. Carpets and vinyl floor coverings can be removed and replaced, hardwoods can be refinished.

• The kitchen is usually the center of any home. Paint and new appliances can make a huge difference if you don’t like what's there now. The most important thing to consider is whether it has enough counter and cabinet space to suit your needs.

Unless you're building your dream home, you will probably never find the perfect house. So before you make an offer, keep in mind what you can't live without and what you can improve upon with some well-placed upgrades and improvements.

If the house is cluttered and not as clean as you would like, remember that it will look different with your belongings and a thorough, professional cleaning is always an option.

If the exterior of the home doesn't have a great deal of curb appeal, just imagine it with a fresh coat of paint and new landscaping.

If you’re thinking about buying or selling a home, a recent report by the National Association of Realtors measured how certain characteristics influence the value of a property. Here are some of the findings:

• A remodel adding an additional 1,000 square feet of living space increases a home’s market value by just 3.3%.

• Adding an extra bedroom adds about 4% to the price while an additional bath can add 24%.

• Houses advertised as “fixers” sell for 24% less than other houses.

• A garage adds about 13% to the price.

• Central air conditioning adds about 12% to the price.

• A basement increases a home's value by an average of 9%.

• A sitting area in the master bedroom increases the price by about 8%.

• Features that add the most value are a family room, a dining room, a whirlpool and a security system.

This information can help determine the return you can expect to see on your remodeling investment as well as to compare property values when you’re shopping for a home.

Did you know that condominiums are one of the fastest growing segments of the housing market? Owning a condo is perfect for those with busy lifestyles, little interest in home maintenance or landscaping chores or who frequently travel. Condos are a fine choice for a first home or when downsizing from a larger house.

Here are some pros and cons to consider:

Condo:

·         Fewer maintenance requirements.

·         Usually less expensive than a single family home.

·         You own the space inside the walls.

·         There can be more security with neighbors close by.

·         The exterior of the building, landscaping, surrounding roads and driveways, and common areas all owned by the condo association, a group made up of all unit owners.

·         Special assessments by the association for painting or repairs can be a substantial added expense.

Single family home:

·         Usually offers more storage space.

·         You own the interior as well as the exterior.

·         You are responsible for all maintenance, landscaping and repairs.

·         You usually don’t have to pay community dues or special assessments.

·         You have room to grow plants, flowers, trees, veggies, etc.

Think about how your household may change over the next few years. Will you still need a larger home or will you have enough space in a condo? Or would you be happier in a smaller house with room for a garden?