Today’s real estate market is booming like never before. With the amount of new construction going up, now is the time to own an older home for cheap. We are seeing more and more of this, young couples buying their first home relatively inexpensively, fixing it up while living there. But here are a few things to consider before buying your first home.
Take a look around
How old is the home? Obviously a home built in the 1950’s will be a bit of risk and chances are you’ll have to spend money out of your own pocket to update certain things. The thing is though; you have to treat a home built in the 90’s the same way. No matter how old the home is treat it like buying a car. There is more to a house than just ceilings, walls and floors, just as there is more to a car than the body and the wheels. When buying a car you look under the hood and take it for a test drive. Today I am going to teach you how to take your home for a test drive.
Ask lots and lots of Questions!
Ask questions. The biggest thing you can do is ask questions. When asking the questions some times it is best to write them down ahead of time. The current home owner or the real estate agent will want to show you all of the positives and none of the negatives. Just know that there are negatives and you have the right to know about them ahead of time.
Foundation and Sewer Line Problems
Things to look for. Look for cracks going up and down the drive way toward the house. If the house you’re looking to buy has these problems then chances are your foundation under the house has splits and cracks unless it doesn’t sit on a slab. These problems are usually credited to tree roots or sinking. Tree roots are a common pest and can cause a variety of problems that could become costly to you. For instance a lot of home buyers find within two weeks of moving in that there sewer line is either collapsed or clogged. The number one reason sewer lines get clogged is because of tree roots. To unclog the line is a mere couple hundred dollars usually but remember tree roots found their way in once and they will do it again, no matter what kind of chemicals you put down the drain. To replace a sewer line is thousands of dollars and you don’t want to go cheap either or you’ll end up hiring a bad plumber and have the same problems in a year or two. The best thing to do is call a plumber who can send a camera up the sewer line and show you exactly what is wrong with it. Then he can quote you on the spot as to how much it would cost to fix the problem.
Call in the Real Experts
More people have plumbing problem when they first move in to a new house. Home inspectors don’t know what they are doing. They are not experts in any specific field so to trust their judgment would be asinine. Instead hire a plumber to inspect the plumbing. This in tales from the sewer line to the water lines to the hot water heater. A lot of people end up replacing their water heater in the first year of moving in. Hire an electrician to look over the wiring, inside and outside, and see if he finds anything that could be a problem later. Same goes with the heat and air. Hire an HVAC professional to take an in depth look over your systems. This is no small thing, for the average cost for a new air conditioning system, after installation costs and everything is usually around $5,000. This goes the same for the heat.
Be Aggressive
Ask if the real estate company will do any kind of warranty. If they shoot it down, then chances are they aren’t confident in the sale. Tell them that. Also any kind of problems the trades experts find that aren’t up to code, they will have to fix before selling the home. Do not be passive, be aggressive. If this is to be your home you’ll want to be sure of what you’re buying and you have the right to know exactly what you are getting yourself into.
