Buying your first home is stimulating, and full of hope. It is also the most expensive purchase you will make besides your first car. A considerable amount of thought should be put into your first home purchase before you hire a real estate broker. With some thoughtful investigation and decision making before starting your search, here are some mistakes you can avoid before buying your first home.
I along with good agents believe that the more information that is known the better. Full disclosure from a syracuse home inspectors avoids conflicts and lawsuits down the road. This is also the way to build a strong, long lasting business.
As a home inspector in Charlotte NC for over 15 year I have seen my share of unpermitted additions and rooms being finished. The dead giveaway that it wasn’t permitted is that the space has been added but the HVAC is still the same size as before. Sadly I have seen people try to get these permitted later only to find the code inspector had them strip of the drywall so he could see the plumbing and the electrical wiring. This is sad position to be in.
Also don’t forget to update your insurance before you let any new tenants move in. You need to secure rental property landlord insurance. This is different from homeowners insurance, and so you need to have it updated before renting your home.
That’s the tricky part that a lot of people don’t understand. There is one thing that I want to make sure everybody knows today: get your inspection done and if there are some major things found with the property, then you should happen to show up with that list when the appraiser shows up at the property. The lender must require these things to be done. If that’s the case, then the bank who owns the property has no choice but to renegotiate because now they have that information and they can’t say, “We didn’t know that.” That’s the whole key.
Doing this type of repair and replace does not raise the value of the property above market value; it makes the property presentable for sale. Very little investment is required. And if your home is structurally sound and the infrastructure up to code, this may be all you need do to maximize your profits.
Fifth, and finally, the home should be level and free from any foundation issues. This could be simply looking at the home from the outside for any shifting or cracks. Inside, notice if the doors and cabinets are flush and closing easily – if they stick or don’t close, then the foundation is off and the home will need to be re-leveled. This is not that hard or expensive, but it is essential. Also, a Home Inspection should include the piers under the home. If any are damaged then they should be replaced. This is also not hard or expensive, but needs to be done.