During the home buying process, most individuals keep their eyes peeled for flaws and features that may make or break their decision to buy the property. After all, few people are willing to purchase a home that will cost them thousands of dollars to repair. Before anything else it is important to realize the following…
No House is Perfect!
However, when buyers find flaws, it’s important to differentiate between features that should be ignored and those that should be addressed.
Understanding the difference between the two can prevent buyers from passing up their almost-perfect dream homes. Conversely, it can help decide when it is right to just walk away.
Features to ignore
There are several cosmetic characteristics that buyers should overlook when making the decision to purchase a home. This is primarily because new homeowners can make the changes themselves quickly and efficiently, and may benefit from personalizing their new purchase to their own tastes. For example, old or unappealing paint or wallpaper is a quick fix that can transform the way a home looks. Repainting a home, whether buyers choose to hire a professional or take on the task themselves, is also cost-effective, and individuals have several options when it comes to colors and textures.
The same holds true for other small fixes and improvements, such as doors, closets, cabinets and fixtures. These features are inexpensive to replace and most are do-it-yourself projects. In addition, home improvement stores and warehouses are typically stocked with a variety of options and materials owners can choose from to individualize their new purchase and give their home a more modern look.
Features to address
Home buyers may choose to address flaws that will be expensive to replace to avoid being forced to take on the task themselves. For example, outdated furnaces, air conditioning systems and electrical outlets can run into the hundreds or thousands of dollars to replace. Home buyers may choose to either ask current owners to replace these systems prior to closing on the home or negotiate a discounted price for the property. In addition, buyers may request that owners make updates on kitchens or bathrooms that are significantly outdated and in need of renovations.
Lastly, buyers should hire a home inspector to pinpoint significant and costly repairs, ranging from foundation and structural issues to mold, mildew and water damage. These repairs should always be addressed and negotiated before closing on a home.
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