When it comes to buying a home, you’re going to run into a lot of jargon you may not be familiar with. Knowing commonly used real estate terminology will be useful as you begin searching for the perfect home. For example, as you look through home listings, there’s a good chance that you’ll stumble onto the term “TLC” occasionally.
What Does ‘TLC’ Mean?
The acronym TLC stands for “tender, loving, care;” as in, the home is in need of it. If you see the TLC in the description, it doesn’t mean the seller has nostalgic feelings towards the home. It means the home needs work. It doesn’t sound like it, but the term TLC is often used for properties in need of significant renovation work and not just a touch-up.
TLC homes are fixer-uppers. You should expect to pay a substantial amount of money on repairs if you buy the home. For instance, a house in need of foundation repairs, roof replacement, or plumbing replacement could be listed as TLC.
Should You Buy a TLC?
Money-wise, there’s often a deal to be had when it comes to houses listed as TLC. It indicates the sellers don’t want to make the repairs themselves, which will be reflected in the asking price.
If you want a project (and you’re willing to put time and money into fixing up the house), then a TLC might be a good option. If you’re looking to invest in fixer-uppers to flip for a profit, TLCs are worth finding. However, if you don’t have the time or money to put into renovations, you may want to avoid TLC listings.
Be sure to understand what a TLC is when buying a home. For more home buying advice, contact us at Randy Lindsay today.