Real estate professionals love a lemon. That’s what many brokers call a less-than-perfect house whose flaws would be inexpensive to fix or relatively easy to live with, giving the lucky buyer the chance to snag a super-bargain.

Drawbacks, such as an awkward layout, and even purely cosmetic issues, such as peeling paint, can get you a price reduction of 20% to 30% off what a comparable home would fetch. If the discount isn’t already reflected in the asking price, point out the problem and negotiate. When you see any of the following defects, you’re probably looking at big savings and only a small headache…

  • Flawed paint. Paint is the cheapest and simplest way to give a house a total makeover, inside and out. Yet an unsightly exterior reduces curb appeal so dramatically that most buyers will drive by. That gives you leverage to bargain—plus you can then choose the color you want.
  • Ugly ceilings. Next to repainting, putting up a new ceiling is the cheapest big improvement you can make to a room. Out-of-date “popcorn” (pebbly) ceilings or “drop” ceilings made of panels can be a huge turnoff, but they can be demolished and replaced at reasonable cost in two to three days. Cracked plaster ceilings are also neither difficult nor expensive to fix—and new paint will hide the repair.
  • No air-conditioning. Especially in warm climates, this may look like a deal breaker. Before you walk away, consider that a 10,000-BTU window unit is sufficient to cool 400 to 450 square feet — and it sells for less than $500. Central air for a home that already has a forced-air heating system typically cost around $3,700 to $7,200 and can be installed in a few days, usually with little or no change to the existing ducts.
  • Old fuse boxes. Houses of a certain age often come with outdated fuse boxes. Don’t let visions of blackouts or smoking wires deter you—a licensed electrician can make the conversion easily. The typical cost of converting a fuse box to a circuit breaker is about $500 to $1,700, and it can be done without ripping up your walls. Most older homes have 100 amps of electricity. That’s usually adequate for today’s usage, but a house inspector will be able to tell you if your intended electrical demands will require more amperage.
  • Dated kitchen. You can brighten up a dingy kitchen for well under $5,000. Instead of tearing out cabinets, replace only their fronts (glass is a good way to update). Countertops are simple to change or to refinish and seal. Even a backsplash you dislike won’t cost much to redo, because it covers such a small area. It will make a big difference, however.
  • Formal dining room. Most of today’s house hunters don’t want a separate dining room next to a tiny kitchen.Solution: Knock down the wall (it’s usually not structural) and combine the spaces. A favorite tactic of house flippers, this is a simple change that fulfills many needs.

    Good news: It doesn’t always require a soup-to-nuts kitchen renovation to be successful.

  • Inaccessible basement. A house whose basement can be reached only from outside may put off many buyers, but it takes very little floor space to break through and create internal access. The front-hall coat closet is often a good place to put the stairs.
  • Awkward laundry space. Basement laundry rooms are antiquated—most people want to wash their clothes on the main level or upstairs near the master bedroom. As long as there’s space to accommodate a stacked washer/dryer unit—in the pantry or in a linen closet, for example—plumbing is close enough for a hookup and you can vent the dryer, this is an easy and smart fix to make.
  • Spiral staircases. Usually found in small houses because they provide access to another floor in just a three-by-three-foot area, spiral staircases terrify parents of small children. A traditional staircase requires double or triple the space. So get out your measuring tape. If there’s enough room to replace it, a spiral staircase shouldn’t rule out an otherwise desirable home.
  • An overwhelming deck. Unless it’s concrete, a deck can be easily reduced or removed to give a house more yard. Cutting a deck back, including moving the supports and railings, is a fairly simple project for a professional and will get you more than your money back when it comes time to sell.

Related Articles