Wait! That house may seem like everything you’ve ever wanted, but before you
make an offer, take some time to consider a few things beyond the size, style and
price.
When buying a home, it’s easy to let emotions get in the way of reality, or get
sudden amnesia about factors that may make a difference.
Sometimes we want something so badly, we’re not willing to ask all the questions
we should, Will This Place Ever Feel Like Home?"
For instance, she says, you may see a basketball hoop over the garage and assume
the neighborhood is great for kids. But a closer inspection may show that
it’s rusted and hasn’t seen a ball in a decade, and that other yards in the neighborhood
have no jungle gyms or tire swings out back.
1. Visit at various times of day
The windows that let in so much light during the day may be a peeping Tom’s dream
at night. That seemingly quiet residential street may be a noisy, highway-feeder
street during morning or evening rush hour; or it may be near impossible to get
from your quiet street across traffic and onto the feeder street in the morning.
The adjacent school may seem like a nice perk if you’re buying in the summer, but
during the school year, daily playground noise and extra traffic may be more than
you bargained for.
2. Look through recent newspaper archives
Make sure you’re getting information on what you can’t see. Perhaps the municipal
water well that feeds your neighborhood has high levels of contaminants or a proposed
high-voltage power line may soon be coming through your back yard. You can
also check with the city or county to see if there are any proposed projects.
3. Talk to neighbors
How many people in the neighborhood own their homes? Sometimes it’s hard to
tell at first if you’re choosing a neighborhood that’s primarily rental houses.
4. Ask if the neighborhood has an association
Is there a newsletter for it? How often does the neighborhood get together?
Do they have a block party every year? Even if you don’t plan to attend, the
fact that they’re having a gathering says they care about their community, that
they want to get to know each other, that they’re willing to socialize that way.
People who behave that way are building a community. They’re going to look
out for your kids; they’re going to look out for your house. It’s a nice,
safe way to celebrate something.
5. Quiz the sellers
What problems are they aware of that the house had in the past – even if they’ve
been fixed? An ice dam five years ago may have caused water damage that has
since been repaired. But it’s good to know that the house may be prone to
ice dams so you can take preventive measures rather than find out the hard way.
Discovering the basement flooding was solved by building up the landscaping in a
particular area will prevent you from leveling the ground there in later years.
6. Get a home inspection
Virtually all houses have defects, according to National Association of Exclusive
Buyers Agents. Some will be obvious and most will be curable. But knowing
what needs fixing can help you negotiate a lower price – or at least prepare you
for costs you’re soon to incur. Strongly consider getting inspections, too,
for lead paint, radon and wood-eating pests.
7. Get detailed records on past improvements
This isn’t always possible. But if you’re told the house’s exterior was painted
two years ago – and then see a receipt noting the whole project cost just $1,000
– then you’ll be forewarned that cheaper materials were used and that you may be
looking at repainting sooner than you thought.
8. Don’t just assume remodeling will be a snap
If you voice your ideas to the sellers, you may be able to glean valuable insights.
For instance, perhaps that shower is in an odd location because, when remodeling
10 years ago, the previous owners discovered a costly structural impediment to putting
a shower where it would seem more appropriate.
9. Consider the view
So many neighborhoods now have teardowns. So look at the two houses on either
side of you. If this neighborhood has had some teardowns, one of those houses
might be a candidate. And they may build some behemoth structure that affects
your light or the way your house looks or your view.
10. Ask for utility bills
You may adore the Cape Cod architectural style or the high ceilings and walls of
glass in a modern home – but those winter heating and summer cooling bills may push
your monthly payments beyond affordable. Ditto for the water bills you’ll
pay to maintain a pristine landscape.
11. Pay close attention to taxes
Don’t just ask what the seller’s most recent tax bill was; ask what several recent
tax bills have been. In some areas, houses are re-appraised – and taxed at
higher rates – frequently. That great deal and good investment may not seem
quite so grand if the property taxes skyrocket year after year. Again, look
at newspaper archives or talk to your Realtor about the way taxes are used in this
area. In some cities, schools are substantially funded through property taxes
– which means you can count on yours increasing regularly.
12. Check with city hall
NAEBA recommends looking into the property’s and neighborhood’s zoning, as well
as any potential easements, liens or other restrictions relating to your property.
The seller should disclose these facts, but it’s better to be safe. If
you’re using a buyer’s agent, he or she should be able to help you with this.
13. Reconsider the bells and whistles
Are you sure you can live with a one-car garage, or a detached garage, or on-street
parking? The pool may be a nice bonus, but can you afford the upkeep?
14. Explore the surrounding area
If you’re not just making a cross-town move, you may not know that only three blocks
away, this pretty neighborhood backs up to a dumpy commercial area or a less-than-savory
part of town. If the home is near an airport, fire station, police station,
hospital or railroad track, expect to hear trains, planes or ambulances throughout
the day and night. Make sure you’re not too close to an agricultural area
that may generate odors or kick up dust or other airborne problems.