You have probably dotted your i’s and crossed your t’s, but here are a few things you may have overlooked. We all know that there are possible hidden expenses that come with any home purchase, but 1st Premier wants to make sure you are not getting sucked into a money pit. Below are some great things to keep in the back of your head on your next home buying excursion.
Will the windows need to be replaced?
Did you know that new windows can set you back upwards of $10,000…..$15,000, or more? I know: GASP! How often do you walk into a house and inspect the windows? Windows are boring. If anything, we swoon over the shape of them, the position of them, the scenery outside of them, but rarely do we consider thecondition of the windows. But, have you ever had to deal with poor windows? Windows that don’t stay shut? Windows that are so drafty you’ve got to apply ugly plastic over them to keep the cold out? Old windows that have peeling, chipped paint (which may even have lead in them if the house was built before 1973)? Windows are costly and they’re one of the most costly home repairs and upgrades that you’ll ever pay for.
What’s the position and quality of the trees around this house?
In a bad storm, can those trees fall on your new house? Do any of them look rotted? Do any of them need to be cut down? Do those trees block the sunrise? What about the sunset? Be cognizant of where trees are in relation to the house you want to buy. Consider the fact that if you want to remove a tree, the cost is usually anywhere from $400 – $1,500 or more to have the stump removed!
Do you see any sign of pests?
Do you see any signs of ants, roaches, mice and other insects and pests? Did you check cabinets, behind the fridge and all other normal hiding places? Will you need an annual pest control plan?
Are there sidewalks in the neighborhood?
Some neighborhoods have left out a very important feature…sidewalks. If you have kids, is there a place for them to safely walk and ride bikes? Can you go for a jog without getting hit by a car?
Is the house too outdated?
How much work is needed to improve the house? Will you be doing the work yourself? Do you have time to do the work yourself? Can you afford to pay someone to do the work for you?
Does the house have any weird smells?
Do you smell “mold” or musty smells? Do you smell strong food odors? Do you smell pets? Is there a pungent smell of cigarette smoke? Be wary of homes that have odors that may be costly to get rid or signify bigger problems.
Does the ground slope away from the house?
Does the house sit at the top or bottom of a hill? Where does the water flow? What’s the condition of the grading around the house? Homes with poor grading can flood in heavy rains.
What do the cars in the neighborhood look like?
Do you see broken down cars, or do they look well taken care of? Look at the quality of the cars, not the brands.
What are the neighbors like?
Did you meet the neighbors? Are they nice? Make sure that you are not moving in next to anyone sketchy!
How much are utilities?
Estimate how much extra you’ll have to pay per month for utilities, since it will affect your bottom line.