When my clients first start looking at a home purchase, I tell them the most important thing to notice is not the floor plan, the neighborhood, the location, or even the price. The #1 thing to consider when looking at homes is to evaluate whether or not the property might have a resale problem.
Here are the top ten issues to avoid when buying your next house:
•1. Large power lines close to the house - Whether it has been scientifically proven or not, many people believe that these large power lines can cause cancer. Besides that, they are not attractive.
•2. Drainage area or ditch next to the house. If there is a drainage area adjacent to the house, there might be an occasion when the water comes up into the house. There might also be a requirement to purchase flood insurance - now or in the future.
•3. Heavy road noise - if the house backs up to a busy street, I can't think of anyone who would think this is a plus.
•4. Master bedroom upstairs - most families only want to be close to the children for a few short years when they are very young. Then they prefer living on different floors. If the house is a one story, most families prefer split bedrooms on different sides of the house. (Use an intercom if your children are small.)
•5. The most expensive house in the neighborhood - If the house is the most expensive one in the neighborhood, the others will pull its value down. Even if it is much nicer than the others, appraisers and future market analyses will use other homes in the neighborhood to evaluate its worth.
•6. Funky floor plan - Even if you don't cook much, most future owners will want a decent sized kitchen. You need to ask yourself if there are there enough bathrooms for the number of bedrooms. Is there adequate storage? Tiny secondary bedrooms? These are all items that future owners will consider.
•7. Travel Time - How is the travel time to and from? Even if you don't mind the drive, the next owners might.
•8. Foundation issues - repaired or not, guaranteed or not, walk away.
•9. Aluminum wiring - Aluminum wiring was used for a very short time in home construction in the 70's. Then it was discovered that it shorted out easily and could start house fires. Unless the house has been totally remediated (there are several methods) do not consider a house with aluminum wiring.
•10. Elevation and stairs - Does the home have a lot of stairs to get to the front door? Are there a lot of different elevations within the house? Will grandma or small children be able to get around the house without falling?
Please note: The best insurance against buying a home that might have a resale problem is to have a good real estate professional representing you when you are out house shopping!
Hi Paula, I agree with your 10 house issues. I have been previewing and showing extensively this week in areas 0500 and 0600 and feel like every other house for sale is by one of those drainage ditches, backs up to a busy street, or has some other issue. grrr