Easy Steps to Follow in Buying Your New Home
The decision of buying a home is very important. Looking for a new home requires a lot of time and effort. The purchase contract is signed and very soon, you’ll be seeing your potential new home!
Greetings! I’m pleased to tell you that I will be your home inspector. I am here to expound on what happens next. You may be enjoying what you see in your house at the moment. Your dream is so close!
Before anything else, I need you to know a few things. After receiving the home inspection report, you may feel deflated. Going around the house the first time might have made you miss a few very important details. But in fact, it wasn’t perfect at all with a list of problems from the home inspection report. You feel a plethora of emotions. The thing is, most homes’ problems come to light after a home inspection.
Balancing the knowledge of the house’s problems with your desire to own it is something I can help you with. Information is key in making important decisions such as this.
Emotions sometimes cloud our better judgment. Making this important decision is based on the information available and the emotions you have about it.
You may think your home’s “problems” make it bad but don’t worry, it’s something that’s more common than you think. Having an enjoyable home comes with its corresponding issues and problems but this shouldn’t dampen your spirits. Attention is also needed for houses to truly be homes. Homes that aren’t inhabited fade away quickly because of the lack of attention.
A very small fraction of homes are “lost causes.” These kinds of homes are too costly to maintain and fix. You will instantly know if the house you are eyeing is this kind of house. You need to know exactly how much you’ll be spending on a house that can be saved but is still in need of many repairs.
The remaining fraction of homes are those that are of superior quality. Most people really take care of their homes so that shouldn’t be much of a problem for you. In order to come up with our decision, we will be using this very good quality house as our example. I will be guiding you through the process of making a decision based on your home inspection report.
The report summary is very helpful at this point. Issues that are require immediate care will be highlighted. The summary consists of repair and safety items only. Areas to monitor are areas with issues such as leaks. Improvement such as fixing the picket fence spacing is listed under “improvement.” As mentioned summaries do not contain improvements. Since it is not in the summary, it is in the body of the report.
Photographs for summary items are put in the body of the report.
The contractor you will hire will also be based on the summary. Most often, you will not be charged for a quote. People who are knowledgeable in real estate such as professionals from that industry and home inspectors can lead you to the best people to work on your home. Sometimes, it is helpful to get more than one opinion on the matter.
Getting quotes from the “monitor” items is also encouraged.
In order to avoid extra expenses in the future, it is important to research about these things. Don’t be afraid to ask for an extension of the due diligence period so that you will have a clear grasp of how much repairs really cost. It is good for you to decide using as much information as you can.
Your decision is fast approaching with your collection of quotes, future expenses, and maintenance budget. Now is a good time to get a blank piece of paper and draw a line in the middle. Now, put a plus sign on the left and a minus sign on the right.
You can now make categories and rank them depending on how you feel about them like “yard” is a viable category then put it on the left or right depending on its positive impact or negative impact.
Maintenance, expenses, and maintenance are some things you can take note of.
The decision at hand should be clearer now that you have categorized and ranked important factors to your decision on that piece of paper.