‘One of the worst types of homes you can buy’: Man issues warning about buying homes from owners who want to ‘downsize’

A man tells viewers to avoid buying homes from "older couples" who are downsizing to a smaller property in a now-viral TikTok, claiming that the previous owners likely neglected repairs.

In a video with over 151,000 views, TikToker and investment property lender Hard Money Man (@hardmoneyman) explains why homes from "downsizers" are the "worst."

"The older couple had a bunch of kids that for decades fucked that place up. Now you've got a couple living in a big house all by themselves," he says in the clip.

But the TikToker notes that the couple "didn't just wake up one morning" and decide to downsize. Instead, he claims they've likely ignored minor repairs for years in anticipation of "downsizing."

"We all know that boomers don't give a shit about anyone but themselves anyways," he says. "Rule of thumb when you're buying real estate: Figure out the truth about why they're selling."

@hardmoneyguy

I chose violenceeee

♬ original sound - hardmoneyguy

Why don't downsizers renovate?

In the comments section, homeowners who have downsized explain why they didn't upgrade their homes before putting them on the market.

"I’m going to sell and downsize, and I’m a boomer. The reason I’m not doing the upgrades is because they come in, and they completely remodel all the houses they buy in my area. Even if you upgraded," one said, referring to house flippers who buy property cheaply and remodel to sell the property for a huge profit.

"On Long Island, it's called downsizing so we can afford to live. For my 2,500-square-foot house, I'm paying $22k in property taxes. I don't want this, but I am doing it all for my kids," another wrote.

"People are gonna overpay anyway and renovate it themselves regardless," a third added.

Home buyers respond

Are downsizers actually a red flag for home buyers? Viewers are split.

"Disagree. Those homes tend to be in great locations. Location is everything, you can fix and upgrade. That's what inspection is for," one wrote.

"Disagree. We bought a 1960s ranch from an old couple- it was immaculately cared for and built better than any new build today. Needed to be updated, but we didn’t mind that," another said.

"Houses that need work are BEST houses to buy. You can repair the house for a lot cheaper than the discount on price you get. And less interest as most are willing to pay more for move in ready," a third asserted.

However, some home buyers agree, sharing their negative experiences with buying a house from downsizers.

"I bought exactly the house you describe. It was worth it, but the first 6 months were maintenance on overdrive for me," one shared.

"Yes!! the worst inspection I've ever seen came from a home they lived there 40 years," another wrote.

The Daily Dot reached out to Hard Money Man via email and Instagram direct message.

Internet culture is chaotic—but we’ll break it down for you in one daily email. Sign up for the Daily Dot’s web_crawlr newsletter here. You’ll get the best (and worst) of the internet straight into your inbox.

Sign up to receive the Daily Dot’s Internet Insider newsletter for urgent news from the frontline of online.

The post ‘One of the worst types of homes you can buy’: Man issues warning about buying homes from owners who want to ‘downsize’ appeared first on The Daily Dot.

dailynoti coindeskcrypto cryptonewscrypto bitcoinmymagazine mybitcoinist cryptowithpotato mycryptoslate fivenewscrypto findtechcrunch journalpayments nulltxcrypto newsbtcarea