Subscribe Feed (RSS)Although owning a home may be a dream come true for most people, make sure you are firmly grounded in reality when you begin your search for your fairy tale castle. It’s important to use your head and consider the practical aspects of home buying before jumping into a real estate contract. Make sure you ask the right questions and get the right answers.
If this is your first time to shop for a home, don’t go into the deal unprepared. Apart from the paperwork, it is important too to take a look into that house up for sale; it’s just right because after all you are going to live in it and live with a mortgage. You look at the house and ask how much it will cost you before you can apply for a mortgage.
So check out that house from top to bottom and investigate the neighborhood. However, you must be aware that the more upscale the neighborhood, the pricier the house will be. So if you fall in love with the house at first sight on site, buy it; before you do, rate the house according to: need repairs, repaired, and brand-new.
If it needs repairs, check out the extent of repairs needed and how much it will cost. Armed with the information you can always ask for a lower price or if the cost of the repairs is beyond your present budget for your mortgage, skip it. As for the repaired houses, always check the basement. A damp basement will show water stains on the floor and walls and give off a musty smell. Molds might be lurking on the walls and ceilings and will need professional help to remove safely.
Many homes are sold with the kitchen appliances. Look at the appliances. How old are they? Are they energy efficient? Will you have to replace some or all of them in the near future? Look at the countertops and cabinets. Do they need repairs or replacement? Does the house have city water or well water? How old is the well and the well pump? Look under the sink for leaks. Is the house city sewage or septic? How old is the septic system?
The bathroom is another expensive remodeling job. Are the tub/shower, the sink and the toilet in good condition? Is there any evidence of leaks? Any cracks? Are the cabinets in good shape? Do you see any sign of mold or mildew? Mold and mildew can be indicators of more serious problems. Are the floors buckled? That can indicate a plumbing problem.
Always take the time to look in the attic. Check to make sure that the attic is properly insulated. Look for any sign of roof leaks. Even roofs that look okay can have leaks. Attics need to be ventilated. Is there a fan? Windows? Other type of ventilation? Examine the windows and doors for fit and make sure the exterior maintenance is up to par.
If you are seriously considering a house, walk around the neighborhood in the evening when people are home. Is this a neighborhood of young families or retirees? Will you be comfortable living among these neighbors? Try to see the house in the rain. Problems that weren’t apparent before may show up when it rains. If everything checks out and the house is within your budget, now is the time to make your offer.
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