What Should And Shouldnt Be Deal-Breakers When Buying A Home

November 28, 2013

Purchasing real estate is generally the largest single buying decision that purchasers make, and every buyer probably already has plenty of ideas of what their dream house will look like. During the buying process, it’s important to decide what your must-haves are and what you are willing to compromise on. With that in mind, what should or should not be a deal breaker?

Deal Breakers

These can include things like foundation issues, plumbing and wiring issues, water damage and asbestos. All of these issues can occur in older homes. New construction homes come with home warranties that generally cover things that can arise over a set time period. This is the time when your budget must be carefully examined the purchase price isn’t the only thing you’re buying when you acquire a home with potential major issues.

When buying a used home, these issues should be reviewed and identified in the inspection. Some inspectors will tell you they do not need to look for these items, but you should insist to know what you are potentially getting before you commit. They can look at an air conditioning or the roof and see approximately how much life it has left. For plumbing issues, look for leaks and water spots roofs are not the only things that leak. Check under the sinks and in the basement. Small leaks can be easily fixed, but larger or long standing problems can create mold and might be very expensive to repair.

When purchasing a new home, follow up with the annual inspection. Many homeowners ignore this and then if an issue arises after the warranty is expired, they will find they are no longer covered. If the home settles or shifts, the home inspection will bring that to light. Having these repairs made when they first show up will save homeowners both time and money. You can find out more information about the Bozzuto Home Warranty on their website .

Deal Makers

The number one item is aesthetics. When looking for a home, it’s easy to change the flooring or color of the walls. The layout and design of the home are much harder to accommodate. Things like landscaping needs and décor are less expensive to update and give you the flexibility to customize your home right away. If you are looking at updating kitchen and bathrooms, they are the most expensive rooms to renovate, although there are inexpensive upgrades that can make the rooms more appealing without spending a lot of money.

When looking at new homes, look at upgrade options. What will help make this house a home while staying on budget? If the upgrades you are seeking are not within your budget, determine which ones you can complete later, perhaps as a do-it-yourself project and then upgrade the ones you don’t feel you have the skills to complete later. It is better to invest in the home design you want than to compromise on the design and take aesthetic upgrades, which can come later. Bozzuto offers several home floor plans so you can review which best suits your needs.

Don’t panic if you can’t get everything in your home you wanted. The average homeowner stays in their home only seven years, giving you plenty of opportunities to get a different home with different features as your needs change.

Bonnie Aleman has over 10 years of experience working in real estate, from lending to investing. She has an undergraduate degree from the University of Virginia and an MBA in International Studies, and specializes in both real estate and financial writing.

The opinions expressed by guest bloggers are theirs and do not necessarily reflect the opinions or views of Bozzuto.

Top Related Stories

1. The Benefits of Buying a New Vs. Used Home

December 31st 2013