Deciding what to look for Evaluating your priorities Seller abbreviations
Viewing an open house Home inspection
Choosing between a smaller house in an affluent neighborhood, an older, bigger house in a working-class community, or a brand-new home is not always easy. If you're in this situation, start by examining your priorities and making some comparisons.
Location
- Is the surrounding neighborhood or the home itself your most important consideration?
- Are the neighborhoods you are considering safe?
- Is quality of schools an issue?
- Do any of the areas seem to attract more families with children, or adult residents? Where do you fit in?
Appreciation
Another consideration is home-price appreciation. Unfortunately, this is not easy to predict. In the late 1980s, the more expensive move-up housing appreciated wildly. But, during the recession that followed, smaller homes tended to hold their value better than more expensive ones. We can discuss the factors effecting the current situation.
Value and Condition
Home inspections, seller disclosure requirements, and my experience and knowledge will help you decide which properties are valued properly, and which are in good condition. Disclosure laws vary by state, but in some states, the law requires the seller to complete a Real Estate transfer disclosure statement.
Here is a summary of items you can expect to see in a disclosure form:
- Whether or not the home includes a kitchen range, oven, microwave, dishwasher, garbage disposal, trash compactor.
- Safety features the home contains, such as burglar and fire alarms, smoke detectors, sprinklers, security gate, window screens, or intercom.
- The presence of a TV antenna or satellite dish, carport or garage, automatic garage door opener, rain gutters, sump pump.
- Amenities such as a pool or spa, patio or deck, built-in barbeque and fireplaces.
- Type of heating, condition of electrical wiring, gas supply, and presence of any external power source, such as solar panels.
- The type of water heater, water supply, sewer system, or septic tank.
Defects
Sellers are also required to indicate any significant defects or malfunctions existing in the home's major systems. A checklist specifies interior and exterior walls, ceilings, roof, insulation, windows, fences, driveway, sidewalks, floors, doors, and foundation, as well as the electrical and plumbing systems.
Hazards and permit violations
Disclosure forms also require sellers to note the presence of environmental hazards, walls or fences shared with adjoining landowners, any encroachments or easements, room additions or repairs made without the necessary permits or out of compliance with building codes, zoning violations, citations against the property, and lawsuits against the seller effecting the property.
Soil and water
If disclosure forms do not mention these, be sure to ask about settling, sliding or soil problems, flooding or drainage problems, and any major damage resulting from earthquakes, floods or landslides.
Restrictions
Condominium sellers must reveal information about covenants, codes and restrictions, or other deed restrictions.
It's important to note that the simple idea of disclosing defects has broadened significantly in recent years. Many jurisdictions have their own mandated disclosure forms, as do many brokers and agents. Also, the home inspection and home warranty industries have grown significantly to accommodate increased demand from cautious buyers. Be sure to ask questions about anything that remains unclear, or does not seem to be properly addressed by the forms provided to you.
We will thoroughly discuss your needs and wants before we focus your housing search. Here are some things you can do to prepare for our conversation:
- Describe the style of house you like: two-story, contemporary, ranch, etc.
- List your priorities in home features, such as a two- or three-car garage, gourmet kitchen, a family room or a formal dining room.
- Think about your lifestyle. If you don't like yard work, ask me to show you condominiums, townhouses or garden homes with smaller yards.
- A neighborhood and area that caters to your needs is an important factor when choosing a home. Consider the identity of the neighborhood. The overall impression given by an area is key to its value.
- Drive through and around the neighborhoods you're considering. Remember that home value is enhanced by other well-maintained properties. Conversely, be cautious of areas with unkempt yards and homes, and businesses mixed in with residences-unless a home/office combination is a priority.
- Ask me about the property tax assessment in the area, including any special assessments or any pending bond issues.
- Get an idea of who lives in the neighborhood by talking with people who live there.
- Pay attention to neighborhood zoning. Many residential communities are zoned to keep out commercial and industrial users. Ask about other regulations in the neighborhood, such as on-street parking. Find out if the area is governed by any covenants.
- List which community services are important to you. Do you need to be close to shopping, a school or a mass transit stop?
- Decide which imperfections you can live with, and which repairs you may be able to make yourself. You may also be able to finance some repairs in your mortgage.
If you find yourself stumbling over weird acronyms in Real Estate listings, don't worry. There is a method to the madness of this shorthand (which is sellers use to save money in advertising charges). Here are some definitions that may help:
assum. fin.: Assumable financing.
dk: Deck
gar: Garage (garden is usually abbreviated "gard").
expansion pot'l: Expansion potential. There may be extra space on the lot, or vertical potential for a top floor or room addition. Verify actual potential by checking local zoning restrictions prior to purchase.
fab pentrm: Fabulous pentroom. A room on top, underneath the roof, that sometimes has views.
FDR: Formal dining room (not the former president).
frplc, fplc, FP: Fireplace.
grmet kit: Gourmet kitchen.
HDW, HWF, Hdwd: Hardwood floors.
hi ceils: High ceilings.
in-law potential: Potential for a separate apartment. Sometimes, local zoning codes restrict rentals of such units, so be sure the conversion is legal.
large E-2 plan: This is one of several floor plans available in a specific building.
lsd pkg: Leased parking area; may come with an additional cost.
lo dues: Find out just how low these homeowner's dues are, and in comparison to what?
nr bst schls: Near the best schools.
Pvt: Private.
pwdr rm: Powder room or half-bath.
Upr: Upper floor.
vw, vu, vws, vus: View(s).
Wow! Better check this one out!
Once we've determined what kind of home you are looking for, in what sort of neighborhood, and in what price range, we can start viewing open homes. Most people consider this the most exciting part of the home buying process. Because we will have already carefully considered your needs and wants, and pre-qualified you for a loan, your open home viewing will not only be fun, but efficient, as well. You won't be wasting time looking at undesirable or unrealistic properties.
Viewing a home for sale, driving through its neighborhood, strolling its perimeter, and thoroughly exploring its interior-gives you the opportunity to imagine you (or your tenants) living there. This is the time to put aside your predetermined ideas, and use your observation skills and intuition to imagine daily life in the places you view.
Of course, sellers want to make their property as attractive to buyers as possible. If they have done their job right, the home will look clean, comfortable, inviting, and well cared for. Take as much time as you need to thoroughly inspect the environment: is the home really in good shape, or has it simply been prettied-up for a quick sale?
Some things you might want to look for include:
- Quality of paint: Interior and exterior. Are there spots of cover-up paint visible? Any signs of peeling, cracking, fading, or mildew? Are rooms painted with the proper type of paint?
- Landscaping: Is the property planted with well-established trees, shrubs, and perennials, or have a bunch of bright annuals been hurriedly shoved into the ground? Do the grounds look cared for?
- Roof and gutters: It's not a bad idea to take a close look at the home's roof. Are there signs of dry rot? Signs of recent patching? Are the gutters clear and attached firmly?
- Windows and screens, drapes and carpets: Are these items clean and in good repair? Do windows, screens and drapes open and close as they should? Check for quick cosmetic cover-ups.
- Cabinets and closets: Are these functional, clean, and in good shape? Empty or sparsely filled storage spaces may look larger than they actually are. Think about the amount of storage you really need, and measure where needed.
- Appliances and fixtures: Test them out to make sure they are in working condition. Look carefully for signs of age, misuse, hasty repair, or merely surfaces cleanliness.
- General cleanliness: Look at baseboards, ceilings, behind appliances, around the home's exterior. Will this home require extensive repairs and clean-up, or is it in tip-top condition?
- Size of rooms: Ask yourself if your lifestyle would be well-accommodated in the home. Which rooms do you use the most? Are the rooms big enough for your needs? Remember to imagine your furniture in place of the existing furniture: sellers will often help rooms look larger by removing items you would normally want or need. Take measurements if you can't imagine your own things in the space.
- Layout of home: Is the home's space well organized? Is it easy to move from room to room? Would the layout of the house support your routines and living habits? If you regularly use a home office, for example, is there an appropriate room situated in the part of the house you prefer to work, close to the other rooms you use often?
Obviously, different people will be concerned about different things when viewing a home: buyers in the market for a fixer-upper won't have the same needs as a buyer wishing to move in immediately to an immaculate, structurally perfect home. Know what's important to you in a living environment, and then make sure you look for it while viewing open homes.
Once you find a home you like, and which meets your requirements, we will begin thoroughly assessing its condition. Property disclosures will provide you with the information you need about the structural features and faults of a home, and a home inspection will fill in any missing details.
A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. Having a home inspected is like giving it a physical check-up. If problems or symptoms are found, the inspector may recommend further evaluation.
A home inspector is typically contacted right after the contract or purchase agreement has been signed, and is usually available within a few days. Before you sign, you do need to be sure that there is an inspection clause in the contract, making your purchase obligation contingent upon the findings of a professional home inspection. This clause should specify the terms to which both the buyer and seller are obligated.
The purchase of a home is probably the largest single investment you will ever make. You should learn as much as you can about the condition of the property and the need for any major repairs before you buy, so that you can minimize unpleasant surprises and difficulties afterwards.
The standard home inspector's report
This report will review the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure.
Be present at the home inspection
It isn't necessary for you to be present for home inspections, but I recommend that you are. You will be able to observe the inspector, and ask questions directly, as you learn about the condition of the home, how its systems work, and how it's maintained. You will also find the written report easier to understand if you've seen the property yourself.
No house is perfect.
If the inspector identifies problems, it doesn't necessarily mean you shouldn't buy the house, but you will know in advance exactly what to expect. A seller may adjust the purchase price, or contract terms, if the inspection reveals major problems. If your budget is tight, or if you don't wish to become involved in future repair work, inspection reports will be extremely important to you.
Of course, a home inspection also points out the positive aspects of a home, as well as the maintenance that will be necessary to keep it in good shape. After the inspection, you will have a much clearer understanding of the property you are about to purchase.
Can I do a home inspection myself?
Even the most experienced homeowner lacks the knowledge and expertise of a professional home inspector who has inspected hundreds, perhaps thousands, of homes in his or her career. An inspector is familiar with the many elements of home construction, and their proper installation and maintenance. He or she understands how the home's systems and components function together, as well as how and why they may fail.
Above all, most buyers find it very difficult to remain completely objective and unemotional about the house they really want, and this lack of objectivity may effect their judgment. In order to be sure you get the most accurate inspection information, it's best to obtain an impartial third-party opinion by a home inspection expert.
The house is in good condition; did I really need an inspection?
Definitely. Now you can complete your home purchase in full confidence of your home's condition. You will also have learned valuable things about your new home from the inspector's written report, and will want to keep that information for future reference.