Contact:
Dwight Puntigan
River City Real Estate
636-219-6242
Beauty is in the eye of the beholder, particularly when it comes to buying a
home. Features that attract one home-buyer may repel another.
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.
Bigger Home
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.
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.
Financing
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.
Graphs and Charts
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.
Home
Inspections
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.
MLS Search
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.
Down Payment
Programs
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.
Home Buyer's Guide
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.
You can find a bargain! Your first step should be to seek out a knowledgeable
real estate agent with experience in the market areas where you wish to purchase
a home. Your agent can help you locate those properties that truly are
“bargains” and help find the home that most closely matches your desires and
needs.
Fonville Morisey Realty - Cary, NC
Former Teacher/Broker
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