Give That House A Second Look Before You Buy It

You saw a picture pretty home being sold online and you definitely want it. Should you buy it outright? Definitely you won’t. You’ll have to take a good and long hard look into it before you sign the dotted line and live in that house forever. That’s right. People are getting smarter when buying homes after the mortgage and real estate industry tripped.

Take the time to learn about real estate contracts and mortgage terms before you look at any homes. Figure monthly payments to determine how much you can spend on a home. Don’t even look at homes that cost more than your spending limit. Repairs are expensive so if the house needs work, figure that into your budget.

So check out that house from top to bottom and investigate the neighborhood. However, you must be aware that the more upscale the neighborhood, the pricier the house will be. So if you fall in love with the house at first sight on site, buy it; before you do, rate the house according to: need repairs, repaired, and brand-new.

Needed home repairs can give a buyer a bargaining position on the price of the home. Check with your mortgage lender on their requirements. They may be unwilling to grant a mortgage on a home that needs repairs or they may require you to put the money for repairs in escrow. Make sure to check the basement and attic for evidence of flooding, leaks or other potential problems. Mold can be expensive to remove and unhealthy to live with.

Many homes are sold with the kitchen appliances. Look at the appliances. How old are they? Are they energy efficient? Will you have to replace some or all of them in the near future? Look at the countertops and cabinets. Do they need repairs or replacement? Does the house have city water or well water? How old is the well and the well pump? Look under the sink for leaks. Is the house city sewage or septic? How old is the septic system?

The bathroom is another expensive remodeling job. Are the tub/shower, the sink and the toilet in good condition? Is there any evidence of leaks? Any cracks? Are the cabinets in good shape? Do you see any sign of mold or mildew? Mold and mildew can be indicators of more serious problems. Are the floors buckled? That can indicate a plumbing problem.

Examine the attic carefully. Make sure it is well insulated so that you won’t lose heat from your home. Look for any signs of leaks. Sometimes even roofs that appear to be in good shape have leaks that can be expensive to fix. What sort of ventilation does that attic have? Look at the exterior and check the maintenance. Count the windows and doors.

After the interiors and the exteriors, check out the neighborhood. Do some research about the crime rate in the area. Is your house vulnerable to break-ins? Is the next neighbor a mile away? Are the houses crammed into a little neighborhood? After visiting the house on a nice sunny day, visit it on a rainy day to see how it fares. If there’s no problem, then make a deal according to the mortgage you can afford.

If you are looking for more advice about East Lansing mortgage, you should check out this site which has great info about refinance Lansing.