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Home Buyers Need to Understand the Cost of Home Ownership

Reblogger
Real Estate Broker/Owner with CREST "BACKYARD' HOMES, ON THE LEVEL General & Manufactured Home Contractor, TAG Real Estate Sales & Investments 521400, 1501015, 01795582

Ha! Had to respond to and reblog this post. What grabbed me was your comment....   

 

"Start at the septic and check the town records...is it a cesspool or a current septic system?"

Beleive it or not we were working on a deal whence the RE Professional spent almost $1000 trying to test the dried up septic system and leach fields until she discovered that the home had been hooked up to the sewer system years earlier. It actually cost her a deal. It's beyond me how she could have ever let that one slip by.

Original content by Ginny Gorman
Home Buyers Need to Understand the Cost of Home Ownership Nothing new that real estate agents and lenders have not discussed with home buyers before but it needs to be repeated again and again.  Many home buyers are looking at homes they really can not afford to buy when you look at the home maintenance items that need to be done in the next year or two.  Being aware and talking about these items with home buyers is essential.   Why wait until you get and spent the money on a home inspection before you get unsettled about buying a home? Start at the septic and check the town records...is it a cesspool or a current septic system?Roof has how many layers and how does it look?  Insulation lacking or is it well insulated?Windows replaced or old?Paint peeling on the exterior or not?So what is your reserve of funds once you have paid closing costs, 6 months of emergency funds in hand & 1 years of homeowner's insurance?  Is there any money left? Understand that as a buyer if it takes two of your incomes to buy the home you better have good reserves in place in case of emergency.  Discuss this before you say this is the house for me and we are stretching our financial ability to buy. Just my thoughts for today.  Buy well within your means.   Home Buyers Need to Understand the Cost of Home Ownership~~~~~~~~~~~~~~~~Ginny Lacey Gorman is your go to North Kingstown Rhode Island waterfront and luxury real estate agent for southern RI real estate and beyond…knowing the geographic area, schools, happenings and important tidbits of local information. Email her at Ginny@RiHouseHunt.com to make an appointment to discuss your real estate needs.  Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy Realtor® who sells RI houses in this real estate market, call Ginny Gorman at  401.529.7849 today. This blog © and its contents is original to Ginny Lacey Gorman   Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate    Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ...  I sell dreams!  Because there is no place like home...the RI Realtor in the Sparkly Red Shoes.   Looking for a knowledgeable Rhode Island Realtor?  Let me GOOGLE one for you!                          cell: 401.529.7849      Ginny Lacey Gorman, Realtor www.RIHouseHunt.com                                         
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Why To Choose Us?

John DL Arendsen, Broker, General & Manufactured Home Contractor and Dealer 

TAG Real Estate Sales & Investments

TAG (The Arendsen Group) Real Estate Sales & Investments is a full service, one-stop, turnkey, family owned and operated real estate brokerage, General Contractor, Manufactured Home Contractor, Developer, Investor, Property Manager, Interior Design, Engineering, architectural, Landscape design, Expert Witness, Consulting, Curative Title and Troubleshooting company with over 100 years of combined experience in the San Diego real estate sales, construction, design & development arena.

 

 

 

 

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Comments (3)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Ouch - $1,000 to test an old dried up septic system on a house that is now hooked to a sewer system has to rank up there with the crazy things that have happened in a real estate transaction!

Apr 13, 2015 09:57 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

John, thank you on the reblog...it is important to get it out there again & again...I am incredulous at your experience with the septic too...

Apr 13, 2015 10:04 AM
John DL Arendsen
CREST "BACKYARD' HOMES, ON THE LEVEL General & Manufactured Home Contractor, TAG Real Estate Sales & Investments - Leucadia, CA
Crest Backyard Homes "ADU" dealer & RE Developer

Myrl Jeffcoat and Ginny Gorman Truly a remarkable experience. But then all kinds of crazy things happen in the manufactured housing industry.

How about land home transactions where the home didn't transfer with the land and the buyers have to get a RE loan on the lot/parcel and a chattel loan on the MH. Big problem because they don't comp or LTV.

There's literally thousands of these throughout the USA and it's making title, escrow, lenders and law firms go crazy. However, it's been a cash cow for our Expert Witness Curitive Title biz.

Apr 13, 2015 10:21 AM