What does “TLC” mean in a real estate ad?



What does “TLC” mean in an advertisement? You’ll often see the phrase “need TLC” in real estate listings, but that doesn’t mean the ’90s rap group or the TV channel. The slang definition of TLC, or “tender and loving care,” is “this house needs work” – and there’s a good chance it needs a job. parcel of work before you, or anyone, will like to live there. And that, of course, could increase your spending on what might initially seem like a good deal.

What does “TLC” mean?

“‘TLC’ is when a house needs a large amount of renovation,” explains Lloyd nichols, a real estate agent® in Fort Myers, Florida. And we’re not talking about applying a new coat of paint, but big jobs that will take time and a lot of money.

A new roof will cost an average of $ 6,600, according to HomeAdvisor.com, while an AC system will cost around $ 5,238. More than likely, your TLC fixer will need more than one repair.

Nichols estimates that buyers could spend an additional “$ 20,000 or more” on repairs. A larger home, or a home that shows signs of serious wear and tear, may require even more expensive TLC.

“The hot buttons for most buyers will be the foundation, the roof, [HVAC] system and plumbing ”, says Nick moomaw, owner of TLC Home Inspections, in Marble Falls, Texas. “These are the ones that are potentially the most expensive to repair.”

Should we avoid TLC houses?

Buying a home advertised as low maintenance shouldn’t be taken lightly. While TLC is more of a slang word than a legal description, real estate brokers generally don’t add the definition to homes that only need a little bit of updating. They know that buyers look for “TLC” when looking for real estate deals, so they keep that definition for properties that require a bit more courage and money to buy and repair.

Not everyone should buy a TLC, or a repairman, at home. If you’re not a handyman, you might not think of your TLC business with tender or loving care when it comes to replacing the toilet, or maybe the entire bathroom floor, when you find out where. state they are actually found. It also might not be a good description when you’re on a ladder and looking at leaky skylights. No matter how carefully you inspect a home and have it inspected, the home won’t show all of its flaws at once. If it was dropped in some areas, maintenance is probably behind schedule in other areas as well.

You should absolutely avoid buying TLC homes if you don’t have the time or money to do all the repairs. All repairs on TLC homes typically take at least twice as long and cost twice as much as you would expect. If you can barely afford to buy the house, let alone apply that tender and loving care, consider forwarding a TLC sale.

Be aware that some TLC homes can be difficult to finance, especially if “TLC needs” is a charitable definition of home condition. Some homes need harsher love than tender loving care. Banks are reluctant to approve mortgages on “TLC” homes that are not habitable or have serious problems.

Is a TLC home sold as is?

The meaning of the term “as is” in real estate can be misunderstood. Just to say that a house needs TLC on the list does not mean that it meets the definition of being sold as is, or that it changes the legality of latent defects or other issues with a house.

Ask your real estate broker or lawyer if you are unsure how a house is sold and what your rights are in your state.

Why TLC Homes Are Worth It Sometimes

Why would anyone want a TLC home if it comes with all of this hassle? Because with tender and loving care, these ugly ducklings can be great business. Even if you factor in the extra money you will need to invest in renovations, you might end up getting a deal on a TLC, especially if you are a handyman in the house and can take care of some renovations yourself. (which explains another euphemism that you can see in such ads, “the pleasure of the entrepreneur”). Experts say that as long as the foundation, roof, and structure of the home are sound, a TLC property can be a solid investment.

“You can do very well,” says Nichols. “You can even flip it.”

Still, if you were hoping for a ‘move-in’ home (translation: no renovations required), you should avoid those TLC listings or, at the very least, make your TLC offer dependent on a thorough home inspection. . That way, you can assess the damage before committing to buying a TLC home that you may or may not learn to love.


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