Aug 28, 2018 | Real Estate
What are some of the most important factors that buyers take into consideration when looking for a new home? There are the obvious things like price, square footage, location and lot size. Those are the basics. Other things that are often weighed are garage size, how updated the kitchen and baths are and whether or not the basement is finished.
All of these are very important to consider, but there are other more “hidden” aspects of a home that many prospective buyers may not take into account. And it’s these aspects that could really come to bite them where it hurts if they’re not also assessed throughout the process.
Here’s a closer look:
Roof/Siding
Roofs tend to last about 20 years these days before replacement is necessary. The home inspector you hire to assess the home will be able to tell you the condition of the roof and whether replacement is imminent – and that’s information that you need to know. New roofs are expensive, and can range anywhere from $5,000 to $12,000 on a standard single-family home. Siding is another thing to assess. Though siding can last anywhere from 20 to 40 years, it may cost nearly as much as a roof to replace.
HVAC Unit
What’s the age of the furnace and air conditioner? Has the seller properly maintained each via filter changes and other standard service? A home inspector will be able assess the status of the HVAC unit to a certain extent, but it’s important to know whether or not replacement is imminent or more of a long-term issue. With furnaces averaging about $2,500 and air conditioners anywhere from $3,700 to $7,000, these are costs that must be considered.
Hot Water Tank
Hot water tanks typically only last anywhere from eight to 12 years, and replacement costs for a new hot water tank are about $1,000 while a tankless unit could be significantly more expensive. Make sure you know how old the hot water tank is in the home and what type of maintenance has been performed on it since it was installed. Annual flushing helps remove debris and contaminants that infiltrate the tank.
Windows
What’s the age and overall condition of the windows in the home? Being that a standard vinyl window costs about $600 and a wood window may cost upwards of $1,000, a whole-house window replacement job is a pretty penny.
The bottom line is that no home is going to be 100 percent perfect in every single aspect – and that’s why it’s important to look at the big picture during the home buying process. Failure to take into account the aforementioned may potentially result in thousands of dollars of other expenses beyond your mortgage payment.
Your trusted real estate professional can assist you through the inspection process and help to point out potential problems areas that should be addressed before closing.
Jul 10, 2018 | Real Estate
The perfect home has been found, the one in the right neighborhood with the right amount of bedrooms and bathrooms. The home inspection is complete, but a few issues have been found. At this point, a home buyer has decisions to make.
What Repair Requests Can Be Made After a Home Inspection?
Structural defects found during a home inspection are the responsibility of the seller and must be fixed. In addition, Realtor.com states that the following must also be repaired by the seller:
- Water penetration such as mold or wet basement/crawlspace
- Any code and safety violations like unstable decking or missing handrails
Cosmetic issues like bold paint choices or peeling paint, nail holes, and other normal wear-and-tear are the responsibility of the buyer, not seller.
Additional Repairs to Request
Home buyers do have the option of requesting repairs they believe are the seller’s responsibility. These often go beyond obvious structural issues like a sinking foundation or mold in the basement.
Additional repairs that home buyers may request include but are not limited to:
- Replacing pipes with leaks
- Replacing galvanized pipes due to lead contaminant, low water pressure, and leaks
- Upgrading electrical wiring in a home built before 1960
- Fixing cracked window(s)
- Installing new HVAC and/or water heater
Sellers may be willing to replace old sewer lines known as “tar paper” pipes. These “tar paper” pipes are called Orangeburg sewer pipes and often found in older homes. On average, this older type of sewer pipe has a 50-year life span. However, as it ages, it can begin to disintegrate with tree roots penetrating the material. A home buyer can hire a plumbing professional who specializes in sewer pipes to inspect the system as part of the overall home inspection.
There may be additional issues that the seller is not required to fix, but that leave the buyer unhappy. When this happens, it can be possible for the buyer to request a repair credit be added to the final contract. Typically, this works best when the repair or issue has a potential cost of more than $500.
Qualified Home Inspection
Repair requests made by the home buyer, whether major or minor, usually are more credible when done in conjunction with a qualified home inspection. Not every state requires home inspectors to have specific certifications or even licensing, so it’s essential to work with real estate agent to select a qualified professional. A qualified and independent home inspector is the buyer’s responsibility. This inspector should have established credentials and belong to trade association, versus a friend or family member that “knows houses”.
Home buying can be an overwhelming experience, but knowing which repairs to request the seller to fix after the home inspection, is one less item to worry about. Your trusted real estate agent is available to discuss these issues and more to ensure a smooth home buying or selling experience.
May 26, 2016 | Home Buyer Tips
When you’ve found the perfect home and you’re preparing for all of the final details to be sorted, there are a few important things that should not be forgotten about. As a home inspection is among the last steps in the transfer of the home, here’s why it’s very important to find the right person for the job.
Assessing All The Elements
Purchasing a home is among the most important and expensive decisions you will ever make, and for this reason it’s necessary to hire a professional that has experience with how a home should function. Because there are so many things that make a house run smoothly, the right inspector will be able to assess any major issues for you so that you’re not forced to pay a high price for fix-ups when the deal is already set in stone.
What The Inspector Will Look For
There are a number of things a home inspector will look at that encompass all of the main functioning systems of a house, and this should determine if your home will be a good investment for you. There will be items that need regular or routine maintenance that will be identified, but the most important issues like a cracking home foundation or mold can be a major expense. From start to finish, a home inspector will be able to give you a written report of any minor and major issues that will help you determine the value of your investment.
How To Find The Ideal Inspector
One of the most important factors when it comes to the right inspector is experience, and no piece of paper can make up for this. While your inspector should certainly have professional certification from organizations like the National Association of Home Inspectors (NAHI) or the International Conference of Building Officials (ICBO), they should have a number of years under their belt and have seen enough to know what to look for.
There are a lot of things to think about when buying a home, but finding the right inspector can go a long way in positively impacting your purchase. If you’re currently on the market for a home and are considering your options, contact your trusted real estate professional for more information.
Jan 25, 2013 | Personal Finance
As a home buyer in Massachusetts , you can get a feel for whether a home’s systems and appliances are in working order. However, you can’t know for certain until after the home’s been inspected.
This is why real estate agents recommend that buyers hire a licensed home inspectors immediately after going into contract. It’s the best way to really know the home which you’re buying.
By definition, a home inspection is a top-to-bottom check-up of a home’s physical condition and systems, including a review of the structure, and its plumbing and electrical systems. Home inspections are not the same as a home appraisal, which is a valuation of the property.
When you commission a home inspection, you should be present for it. Here are 3 reasons why :
Seeing For Yourself
There’s a big difference between reading a report and seeing “live” what may be right or wrong with a home. With first-hand knowledge of a potential issue, you’ll be in a better position to determine whether a problem warrants contract cancellation, or whether it’s an additional negotiation point.
Discovering The Home
Via a home inspection, you will learn where the systems reside within a home (e.g.; boiler room, garage), and how to operate them. This is a valuable educational opportunity and most inspectors are happy to share what they know. It’s also a chance to ask questions about maintenance and upkeep.
Better Understanding
A home inspector’s job is to review and disclose the condition of the home. The inspector’s report, however, is just a summary on paper. In being present for the inspection, a buyer will be able to visualize and understand the report’s conclusions more clearly. This can make for more effective re-negotiations with the seller, in the event that damage or distress is identified.
So, what should you do during the home inspection? Your primary tasks are to watch, listen, learn and ask questions. A professional home inspector will welcome your participation in the process.
Jun 6, 2012 | Real Estate Definitions
When you preview homes as a home buyer, you can get a good feel for the home’s visible traits — its finishes, its room counts, and its landscaping, for example. What you can’t get a feel for, though, is the home’s “bones”.
It’s for this reason that real estate professionals recommend that you have a property formally inspected immediately after going into contract for it.
A home inspection is a thorough, top-to-bottom check-up of a property’s structure and systems. It is not the same as a home appraisal, which is a valuation of the property. By contrast, (more…)
