Buying a home requires a lot of preparation and research. It’s important to start off on the right foot because the time you initially put in with save you time down the road. Plus, going through the basic steps to get you ready for buying a home will help you decide if you’re truly ready for homeownership.
As a first-time home buyer, here are five basic steps you should take before you make an offer:
Get Pre-qualified
Nothing is more important than understanding your credit situation and getting pre-qualified with a reputable lender before you start your home search. This also means calculating all of additional expenses besides a mortgage payment that come with owning a home. For instance, if you’re looking at condos, you’ll want to take into consideration how the Home Owners Association (fees, etc.) will impact your monthly expenses.
Doing a little prep-work and knowing how much home you can afford will allow you to search for a house with confidence and avoid being disappointed by homes that are out of your price range.
Hire a Buyer’s Agent
Outside of getting pre-qualified, this is the single-most important thing a first-time home buyer can do. A buyer’s agent is a real estate agent hired specifically to help a person interested in purchasing a home. This agent will work for you and will always have your best interest in mind. Buyer’s agents will research a property and give you valuable information that the agent who is representing the seller is not allowed to provide. This includes any public records showing what the current owner paid for the home, the last mortgage on record, comparable homes in the neighborhood and how long the property has really been on the market. A buyer’s agent can also give you a thorough explanation of the best way to approach a negotiation of the property. In addition, a good buyer’s agent will have a list of resources that will help you in the home buying process, including home inspectors, contractors and attorneys.
The best thing about hiring a buyer’s agent is that it often costs you nothing! Because of the agreement between the seller and the listing agent, compensation is offered through multiple listing services that encourage other agents to show the property. The buyer’s agent only gets paid if they are the one who brings the buyer.
Know the Neighborhood
When searching for your first home it’s important to know and understand the neighborhood. Target an area and drive around at different times of the day or week to observe what’s going on. Often in the evening and on weekends you’ll get a better idea of what the activity level is for a specific neighborhood.
Don’t settle when you’re looking for your first home. While most buyers understand that they may only be in a home for a few years, the decisions you make now will have a huge impact when it comes time to sell the property. Things like not having a garage or basement, or the proximity to commercial or major roads could create some obstacles when you try to sell the house in the future.
Have the Home Inspected
This is one thing you definitely don’t want to skimp on! Choosing to do the inspection yourself or relying on your family member or friend who has owned a home before will most likely result in a greater cost than if you had hired a professional in the first place. By not hiring a full-time inspector who is a member of either the American Society of Home Inspectors (ASHI) or your state’s association of home inspectors, something will be missed and it could cost you thousands of dollars in the long run. Not only does a professional inspector provide peace of mind about what you’re buying, but can walk you through the process so you understand the inner-workings of a home and regular maintenance schedules.
Monday, November 22, 2010
Friday, November 19, 2010
What types of things do Home Inspectors find?
Great question. There are so many items that are inspected or checked by a home inspector. I know an AmeriSpec Home inspector checks over 400 items in every home we inspect. The items that seem to get a lot of attention are as follows.
1. Roof and roofing structure. Shingles aren't the only item checked during an inspection. If the inspector doesn't walk the roof (if it's not too steep) there's so many other items that can be missed. Like the flashing's. The flashings are what makes the rain water not seep into the main structure of the house. If they are gapping or not installed properly the roof could end up with some leaks, and that's a bad thing. There's also the venting stacks. Want to be sure the venting for the plumbing is proper otherwise there could be sewer gas coming back into the home. No a good thing. And the chimney, here's where you could end up with damages if there's some mortar deterioration or if the top part of the chimney (the Cap) isn't secure. Water can get down the chimney and cause all kinds of problems.
2. Windows. Here's where a good inspector earns his/her money. There are flashings around the windows and doors that need to be inspected. Not only can there be cold air infiltrating into the home, but water can sneak in and cause some trouble, like fungus or mold.
3. Electrical Issues. The panel isn't the only item that a home inspector inspects, but it's an important one. We look to be sure the wires all agree with the fuses or circuit breakers. Make sure there aren't too many wires to one fuse or breaker. We even look at the brand of the box to be certain the panel is one that appears to be safe. If it's a Federal Pacific Panel or a Zinsco, we should tell our client to have a licensed electrician inspect it for safety. We also check the electrical outlets for grounding and their polarity.
4. Plumbing. Most home inspectors will check all the plumbing facilities, like sinks, tubs, showers and toilets. There's plenty of leaking go on in some of those homes and we're there to find which one is leaking. We check the waste+ stacks for leaks, especially if the stacks are still cast iron. If we see a rust spot, we suggest a licensed plumber be called in. And we should be suggesting a sewer lateral by a competent plumber as well.
Okay, this should be all anybody can stand about home inspections. There will be more later after a little rest.
Any questions about these items or about any other home inspection question, the Jardine AmeriSpec Office would be glad to answer your calls and emails. Remember the number 314-308-6489. Thanks for reading!
1. Roof and roofing structure. Shingles aren't the only item checked during an inspection. If the inspector doesn't walk the roof (if it's not too steep) there's so many other items that can be missed. Like the flashing's. The flashings are what makes the rain water not seep into the main structure of the house. If they are gapping or not installed properly the roof could end up with some leaks, and that's a bad thing. There's also the venting stacks. Want to be sure the venting for the plumbing is proper otherwise there could be sewer gas coming back into the home. No a good thing. And the chimney, here's where you could end up with damages if there's some mortar deterioration or if the top part of the chimney (the Cap) isn't secure. Water can get down the chimney and cause all kinds of problems.
2. Windows. Here's where a good inspector earns his/her money. There are flashings around the windows and doors that need to be inspected. Not only can there be cold air infiltrating into the home, but water can sneak in and cause some trouble, like fungus or mold.
3. Electrical Issues. The panel isn't the only item that a home inspector inspects, but it's an important one. We look to be sure the wires all agree with the fuses or circuit breakers. Make sure there aren't too many wires to one fuse or breaker. We even look at the brand of the box to be certain the panel is one that appears to be safe. If it's a Federal Pacific Panel or a Zinsco, we should tell our client to have a licensed electrician inspect it for safety. We also check the electrical outlets for grounding and their polarity.
4. Plumbing. Most home inspectors will check all the plumbing facilities, like sinks, tubs, showers and toilets. There's plenty of leaking go on in some of those homes and we're there to find which one is leaking. We check the waste+ stacks for leaks, especially if the stacks are still cast iron. If we see a rust spot, we suggest a licensed plumber be called in. And we should be suggesting a sewer lateral by a competent plumber as well.
Okay, this should be all anybody can stand about home inspections. There will be more later after a little rest.
Any questions about these items or about any other home inspection question, the Jardine AmeriSpec Office would be glad to answer your calls and emails. Remember the number 314-308-6489. Thanks for reading!
Wednesday, November 17, 2010
Things sellers should know
When selling your home, you should consider what a home inspector will find when he or she is contracted by a buyer. What will the buyers home inspector be looking at, what types of issues will they find? At the Jardine AmeriSpec Office we suggest you have a professional inspector look at your property before a buyers inspector does his or her inspection.
1. How old is your roof? What issues will a home inspector find when they walk your roof?
2. Is your siding in good shape? Is there any damage that could cause water infiltration? If it's brick on the exterior do you have any broken or cracked bricks, is there any "spalling" of the brick or deterioration? Should you consider tuck pointing by a professional before you put your home up for sale? Is the trim around the windows and doors caulked properly and is there flashings installed to move the water away from the house?
3. Can you see the entire foundation? Are there any cracks in the foundation? Should you have a professional foundation company make any repairs?
4. Are your faucets operable? Are there any leaks from the spigots?
5. Do you have GFCI (Ground Fault Circuit Interupters) and are they operable? Do all the lights on the exterior work properly?
6. On the interior, do all your kitchen appliances work properly? Stove, oven, micro wave, refrigerator? Are there any leaks under any of the sinks or toilets? All your faucets work properly? Are there GFCI recptacles installed in bathrooms, kitchen, basment, garage and exterior?
7. Interior walls and ceilings free of cracks or peeling drywall tape? Do all the windows work properly and do any of the windows show fogging or condensation if double paned? Is there at least one window in each room that can be used for egress? How about interior doors? Do they all open and close properly? No rubbing jams or stick when trying to open?
8. In the basement, are there any signs of water penetration? Any foundation cracks that could allow water to enter the basement? Has there been any signs of foundation movement? Bowing walls, tilting walls or other signs that would or could be problematic? Should you have a foundation specialist make any repairs prior to listing your home? Have you had a termite inspection in the last year to prove thre are no termites? Most professional termite companies will give free inspection if the property is not for sale or your not refinacning your loan.
9. Is your furnace and air conditioning in good shape? Do you know the ages? Have they been serviced by a professional HVAC contractor? Do you have documentation.
10. Have you had an electrican open your electrical panel and determine the safety of the wiring and look for double tappings or over fusing? Do you know if you have knob and tube wiring or a Federal Pacifici or Zinsco Panel?
11. Is the attic insulated and have good ventilation? Any wiring issues in the attic? Are there any cracked or cut joists or trusses? Do you know if there any stains on the decking? Any cracked decking?
These are just a few things you should know before listing your home. Some of the items could be deal breakers, especially if you are not aware of them. Keep in mind, information is powerful and if you know the issues about your home, you can have them "repaired" before the buyer has their inspection. Makes a much smoother process. And of things, as a seller, you want a smooth and worry free process.
We suggest to find a Certified home inspector you find an ASHI (American Society of Home Inspectors) at http://www.stlashi.org/
1. How old is your roof? What issues will a home inspector find when they walk your roof?
2. Is your siding in good shape? Is there any damage that could cause water infiltration? If it's brick on the exterior do you have any broken or cracked bricks, is there any "spalling" of the brick or deterioration? Should you consider tuck pointing by a professional before you put your home up for sale? Is the trim around the windows and doors caulked properly and is there flashings installed to move the water away from the house?
3. Can you see the entire foundation? Are there any cracks in the foundation? Should you have a professional foundation company make any repairs?
4. Are your faucets operable? Are there any leaks from the spigots?
5. Do you have GFCI (Ground Fault Circuit Interupters) and are they operable? Do all the lights on the exterior work properly?
6. On the interior, do all your kitchen appliances work properly? Stove, oven, micro wave, refrigerator? Are there any leaks under any of the sinks or toilets? All your faucets work properly? Are there GFCI recptacles installed in bathrooms, kitchen, basment, garage and exterior?
7. Interior walls and ceilings free of cracks or peeling drywall tape? Do all the windows work properly and do any of the windows show fogging or condensation if double paned? Is there at least one window in each room that can be used for egress? How about interior doors? Do they all open and close properly? No rubbing jams or stick when trying to open?
8. In the basement, are there any signs of water penetration? Any foundation cracks that could allow water to enter the basement? Has there been any signs of foundation movement? Bowing walls, tilting walls or other signs that would or could be problematic? Should you have a foundation specialist make any repairs prior to listing your home? Have you had a termite inspection in the last year to prove thre are no termites? Most professional termite companies will give free inspection if the property is not for sale or your not refinacning your loan.
9. Is your furnace and air conditioning in good shape? Do you know the ages? Have they been serviced by a professional HVAC contractor? Do you have documentation.
10. Have you had an electrican open your electrical panel and determine the safety of the wiring and look for double tappings or over fusing? Do you know if you have knob and tube wiring or a Federal Pacifici or Zinsco Panel?
11. Is the attic insulated and have good ventilation? Any wiring issues in the attic? Are there any cracked or cut joists or trusses? Do you know if there any stains on the decking? Any cracked decking?
These are just a few things you should know before listing your home. Some of the items could be deal breakers, especially if you are not aware of them. Keep in mind, information is powerful and if you know the issues about your home, you can have them "repaired" before the buyer has their inspection. Makes a much smoother process. And of things, as a seller, you want a smooth and worry free process.
We suggest to find a Certified home inspector you find an ASHI (American Society of Home Inspectors) at http://www.stlashi.org/
Subscribe to:
Posts (Atom)