Although owning a home may be a dream come true for most people, make sure you are firmly grounded in reality when you begin your search for your fairy tale castle. It’s important to use your head and consider the practical aspects of home buying before jumping into a real estate contract. Make sure you ask the right questions and get the right answers.
If this is your first time to shop for a home, don’t go into the deal unprepared. Apart from the paperwork, it is important too to take a look into that house up for sale; it’s just right because after all you are going to live in it and live with a mortgage. You look at the house and ask how much it will cost you before you can apply for a mortgage.
So check out that house from top to bottom and investigate the neighborhood. However, you must be aware that the more upscale the neighborhood, the pricier the house will be. So if you fall in love with the house at first sight on site, buy it; before you do, rate the house according to: need repairs, repaired, and brand-new.
If it needs repairs, check out the extent of repairs needed and how much it will cost. Armed with the information you can always ask for a lower price or if the cost of the repairs is beyond your present budget for your mortgage, skip it. As for the repaired houses, always check the basement. A damp basement will show water stains on the floor and walls and give off a musty smell. Molds might be lurking on the walls and ceilings and will need professional help to remove safely.
In the kitchen, check how many appliances are there to estimate if your appliances can fit in without additional outlets; check the floor, is it level or does it shake? Inspect the floor for stain — can these be removed with the usual cleaning mop and cleansers? If the sink top is marble, examine if it needs to be re-polished. Inspect the plumbing. Are there leaks? How about the tap water? Does it run well or drips?
In the bathroom, are there bath cabinets? Well maintained bath cabinets should be an asset not a collapsing liability. Look at the plumbing; turn on the tap and flush the toilet. If it works fine, there won’t any problem. To be sure, bring along a plumber to inspect the plumbing in all areas – kitchen, bath, garage, and at the backyard.
Visit the attic should to check it for water stains and the durability of the structure. Does the attic have ventilation and insulation? After you have done the rounds of the interiors, check out the exterior. Are the doors and windows secured? How many entrances are there? Does the house have a fire escape?
If you are planning to live in the house, make sure you walk around the neighborhood. Talk to some neighbors. Is this an area of young families or retirees? Will you and your family be comfortable living in this neighborhood? Look at the house on a rainy day. It’s easier to spot leaks and problems in bad weather. If everything looks good and you haven’t found any red lights, make an offer on the house that’s within your budget.
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