Guest Post by Home Advisor
Congratulations! You’re embarking on an exciting, new adventure — owning your first home! As you get ready to sign the papers and start living in your new abode, it’s crucial that you don’t ignore some major missteps first-time homebuyers have made in the past. By taking prep steps ahead of time to avoid these common mistakes, you’ll be well on the way to settling into your new home for years to come.
#1 Ignore Over-the-Top Features
Sellers may have invested in some upgrades to make their home more appealing to potential buyers, including first-time homeowners. However, some major home upgrades might not be all that appealing after first glance. Swimming pools, for example, are high maintenance and expensive to repair, and they’re only functional for a few months out of the year, depending on where you live. Landscaping with multiple bushes, trees and various flower beds that require a lot of maintenance and care are another you don’t want to invest time and money in. There’s also a wine cellar — this sounds amazing at first glance, but there’s a lot of care and work that goes into its maintenance. Look for the features you know you’ll want to use and maintain before you look to sign any papers.
#2 Don’t Waive a Home Inspection
Never waive a home inspection. It may seem like a good way to cut costs in the home buying process, but spending $310 to $380 to hire a home inspector could save you from spending thousands later on major issues in the home. Home inspectors can reveal issues like:
- Roof leaks
- Exposed electrical wires
- Cracks in the foundation
- Plumbing leaks and cracks
- Problems in the heating and cooling system
- Holes in the interior or exterior walls
If these problems are discovered before you purchase the home, you might be able to compromise with the seller on fixing them ahead of the sale. If not, you might have to look for a different house to buy.
#3 Handle the Small Fixes
If you decide to move forward with a home that has a few problems, don’t underestimate the small fixes. For example, a leaking or running toilet might seem like a small problem, but it can become a major one if you aren’t careful. Running toilets not only waste gallons upon gallons of water, but they can also lead to bathroom flooding. Call a plumber to fix it as soon as possible. Also budget for other small problems like flooring, HVAC and roofing maintenance. These expenses can run up to $1,000 or $2,000 if not more, depending on the extent of the problem in some cases. So be sure to cushion your bank account.
#4 Understand That Some Projects Aren’t DIY
There are some new homeowner projects that are right for do-it-yourselfers. Painting, decorating, fixing some small holes in the wall with caulking — those are all affordable, easy and quick (if you follow instructions). However, there are some projects you should never attempt to do on your own. Call in …read more
Via: Coldwell Banker Blog