By Anita Tate, Century 21 West Main Realty & Auction
However,
the one feature of interest to every home-buyer is price. Getting the most home for your money is
paramount. The real problem is figuring
out whether that fixer-upper on one street is a better buy than the home in
next-to-new condition two blocks away.
That’s why knowing what to look for before you buy can save you
time, energy and money down the line.
The
first step is figuring out what kind of house you need. A good buy is only a good buy if it meets
your current and future living requirements.
Before shopping for a home, decide how much space you and your family
require. How many bedrooms,
bathrooms? Is a family room
necessary? Do you need a layout that
will accommodate a lot of entertaining?
Do you prefer a spacious or compact work space in the kitchen? If you have small children, can the house easily be childproofed?
Evaluate
the front and back yards. Is there
enough space to accommodate your children?
Do you want a park-like or garden setting? Do you enjoy yard work and gardening, or do
you want a low-maintenance yard? Take
into consideration the cost of extensive landscaping and upkeep.
Next,
determine how much work is required to make the house you are considering
livable. Make an honest assessment of
your fix-it abilities. How much
work are you willing to do or pay someone else to do? Do you have basic decorating, carpentry and plumbing skills? If you plan to learn as you go, make sure you have accurately determined what you are getting into. Ask an experienced friend, family member or your real estate agent for their opinion, and be sure to consider how much remodeling inconvenience the rest of the family can handle.
work are you willing to do or pay someone else to do? Do you have basic decorating, carpentry and plumbing skills? If you plan to learn as you go, make sure you have accurately determined what you are getting into. Ask an experienced friend, family member or your real estate agent for their opinion, and be sure to consider how much remodeling inconvenience the rest of the family can handle.
Unless
you are ready and able to tackle a major remodel, look for a house or
condominium that needs only cosmetic improvements. These include painting, wallpapering and
replacing items like flooring, window treatments, bathroom and kitchen
fixtures, light fixtures, cabinet and interior door hardware and
appliances. Remember that even these
simple changes can be costly if you have to make many of them.
Beware
of improvements that seem easy enough at first glance buy may turn into major
headaches and require a lot of money once you’ve moved in. Remodeled kitchens and bathrooms, changes to
the floor plan, room additions and redesigned landscaping are examples of
seemingly minor changes that can easily eat away the money you thought you
saved by selecting a so-called “bargain priced” home. Of course, you may be perfectly willing to
spend whatever money is needed to customize the house to match your tastes and
needs.
Make sure major systems in the house
are in good working condition. The
furnace, air-conditioning and plumbing should be up to date, since repairs can
be costly. Your agent can arrange to
have a professional inspector determine whether the electrical wiring and any
room additions are to code. Local
utilities often offer free or low-cost inspections to tell you if the house is
energy-efficient.
Look
for a house with universally popular selling points. If you’re impressed, the next buyer down the
line is bound to be, too. For example, a
roomy, modern east-to-clean kitchen is the best selling point a home can
have. A house with only one bathroom is
less desirable than a house with two or more.
Many buyers expect at least three bedrooms, with a master bedroom that
offers a feeling of privacy. Lots of
storage space and closets, especially walk-in closets, will be a real selling
point. Family rooms or “great rooms”
also are desirable. On closer
examination, a house that looks like a bargain may lack some of these key
features.
Don’t
forget the old adage: location,
location, location. Unless you’re
looking for a fixer-upper, the house should be in a condition that is
comparable to other homes in the neighborhood.
Avoid buying the biggest or fanciest home on the block. Consider the amount of traffic or noise. Homes located in a quiet area away from a
busy street will command a higher price.
Make sure the schools in your district have a reputation for quality
education and safety. Nearby
supermarkets, gas stations, restaurants and theaters also will make a location
more desirable.
Good
community facilities also add appeal; pools, athletic fields, community
centers, libraries and hospitals all add to a neighborhood’s value and
desirability. Transportation needs also
should be considered. Is local public
transit available? How long are typical
commutes to places of current and potential employment? Are there several alternate route? How close is a major airport? All of these can affect a home’s pricing.
Consider
the cost of living in a home. It’s
important to consider not only purchase price but the monthly cost of living in
a home. Estimate your utility and
maintenance costs. For example, will the
house need to be painted on a regular basis and will you need to spend money
maintaining a swimming pool? Ask your
agent about the property tax rate and whether increases are anticipated. Will you have to pay special assessments for
a homeowner’s association? Consider the
point in the life cycle of major household systems, such as the furnace, air
conditioning, roof and kitchen appliances.
Great advice Anita!
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