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- House-Choosing Checklist
Ready to buy a home? There’s a lot to consider before selecting the right one. This home-buying checklist will help you decide.
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Buying a new home can be exciting, and it’s tempting to grab the first house you fall in love with. But exercising a little patience will go a long way toward turning your purchase into a haven instead of a headache.
Don’t overestimate your abilities. Determine if the house you like needs work. Then assess whether you’re really capable of doing it, advises Jeff Beneke, veteran home renovator and author of The Fence Bible. Also consider whether the home has an extra room if you’re planning to redo several parts of it. “That way you can close off one room at a time, do what you have to do in that, move somebody into there, then close off another room,” he says.
Don’t overestimate the potential. Figure out whether the renovations are worth the time and expense. “Make sure that if you can’t do the work, you get estimates before you buy the house so you know what you’re getting into,” Beneke says. If the cost of the house plus the renovations will put the home’s value significantly above others in the neighborhood, it’s probably not the best investment — or you may need to scale back the renovations.
Think twice if the kitchen needs renovating. Unlike most other rooms in a house, you won’t have a spare kitchen to use while yours is under construction, says Beneke, who notes that remodeling can put a huge strain on marriages. If the kitchen only needs new countertops, that’s fine. But if you’re planning to move in and tackle a major kitchen renovation while living there, you might want to reconsider. Is your family really going to be okay with closing it off and eating takeout for a couple of months? Can you renovate in stages so the kitchen isn’t entirely out of commission?
Delve beyond the obvious. “Buyers tend to be romanced by pretty and clean, but you’re not buying pretty and clean,” says Alison Rogers, a real estate agent at DG Neary Realty in New York City and the author of Diary of a Real Estate Rookie. If you’ll need more phone and cable jacks or updated wiring for your home office, know that they can add hundreds of dollars to your move-in costs. “If you buy a house that’s very pretty but has entirely old windows,” Rogers says, “you may have to replace 30 windows at $200 a window or more.”
Those little things add up. So, don’t only imagine your sofa in front of the fireplace but also walk the house with an eye toward how you’ll use it. Is there a wall big enough for your large-screen, wall-mounted TV? If the previous owner used the fireplace decoratively, it could be because it needs a new flue or has other problems. If the bathroom or bedroom doors don’t have locks, you may need to budget another $100 or more to satisfy a privacy-oriented teenager (or parents).
Pretend you’re living there. Try out everything in the house: flush the toilets, turn on the lights, climb the attic stairs, check water flow in sinks and showers, imagine the steps you’d take (and counter space you’d use) when cooking a meal, and try to fit your cars in the garage. These little things that buyers tend to skip are the ones that will irk you on a daily basis.
Hire an inspector. “A lot of buyers sort of blow it off,” Beneke says. “It’s just one of those expenses they have to have to satisfy their lender. But in reality, a good inspection can uncover reasons you absolutely should not buy that house,” such as structural problems with the foundation. “Secondarily, a good inspection can tell you what the major problems are behind the walls. Most home buyers look at what they can see. An inspector’s job is to look at what they can’t see — condition of the roof, if there’s insulation, etc.” Clarify that your contract to buy the house is contingent on a satisfactory inspection, then view the inspector’s report as an opportunity to go back and renegotiate the price.
Look up. “People tend to look at floors and walls, but it doesn’t occur to buyers very often to look up at the ceiling,” Rogers says. The ceiling can tell you whether the home has had water damage, which isn’t necessarily a deal killer but is another thing for the inspector to check.
Ask the current owners for a year’s worth of utility bills. “That’s the easiest way to check the energy use of the house — how much it costs to heat in the winter and cool in the summer,” Rogers says. “There’s a price for each buyer at which a less energy-efficient house may be worth it, especially if you can do things to make it more energy-efficient.”
Think long-term. “Americans move, on average, every six years but look to stay in the house for 15,” Rogers recommends. “The kids are little now, so you may need a playroom. But where will you put them as they grow up so you won’t hear their stereos? If you’re older, think about stairs and the ways the house can be adapted if you get a little less mobile.”
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