5 Things Every First Time Home Buyer Should Do
Deciding to purchase a home is one of the biggest investments you will ever make, so make sure you do it right and save yourself a lot of time, money and stress. As a first-time home buyer, you will want to do your homework to protect that investment. Whether you are buying new or used, these tips will help ensure you’re making a smart investment.
Make Sure You Ask the Right Questions
It is often forgotten that for home buyers it is buyer beware, so do your research and ask the right questions when hiring a home inspector. How long have they been inspecting homes? What did they do before becoming a home inspector? Are they insured? Are they certified? How long have they been working as a home inspector? A good home inspector will help you look beyond the surface. Tip: Try to find home inspectors that are Level 1 Certified Thermographers. They are able to use thermal cameras to detect problems behind the walls. This will allow you to find out if the house has any issues like leakage and abnormal heating from faulty wiring.
Hire a Knowledgable and Qualified Home Inspector
Perhaps the number one rule when buying a house is to get a home inspection by a professional. A seller’s market has a tendency to push buyers beyond their financial capacity, letting fear drive the purchasing decision – but if a home is not inspected properly, it could cost a fortune to repair in the end. If the name of the game is saving money, not getting a home inspection doesn’t make any sense.
Examine the Exterior of the House
Experienced professionals often see first-time buyers make impulsive decisions and fall in love with the fancy finishes inside the house – crown-molding, a renovated kitchen, and fancy bathrooms. But take a close look at the exterior of the house. Are there wide cracks in the foundation? Is there a poor foundation? If you can fit a dime in a foundation crack, it’s time to call in a structural engineer. Are there missing downspouts or downspouts that direct water to the roof or foundation? Are there missing shingles on the roof, or shingle edges that are curled? All of these issues could lead to costly leaks.
Find Out About the Reno History
If you are considering an older home, look into its renovation history and make sure that you ask for permits. No renovation permits likely mean that a professional was not hired for the job, or they did the work themselves. This could result in major headaches and costly repair bills down the road. Know when to walk away.
Get Quotes Ahead of Time
The budget for renovations or repair costs when you are in the midst of negotiating the deal. If your home inspection report indicates potential issues with the house, talk to professionals who can give you an idea of how much it will cost to fix those problems before you make an offer. I would rather spend money on issues I knew about than on those I wasn’t aware of. And if you’re thinking about doing the renovations yourself… unless you’re a pro, don’t do it! You could end up causing more problems, like compromising the structure of your home or doing faulty electrical work. Hire professionals to get the job done right the first time.