The housing market today is a hot one. Even cooling from the recent frenzy, there are still more buyers than available homes and sellers have their choice of bids in most neighborhood markets. One of the side-effects of a hot market is a reduced chance to inspect a house for defects before you bid or before you close on the home.
This means that your initial walkthrough when touring a home is vital – one of your few chances to identify problems before committing to the home purchase. A sharp eye can help you identify issues ahead of time and either avoid a “lemon” or plan and negotiate with post-purchase renovations in mind. Whether you are a first-time home buyer or just looking to improve your game before your next home purchase; here’s what to look out for when touring homes on your house-hunt:
First, learn how old your house is and how old each of the essential features may be. Your roof and appliances each have individual lifespans and replacement schedules.
Make sure all the utilities work and are in good condition.
Homes go through a lot over the years, and older homes may not be as structurally sound or damage-free as you would hope. Watch for signs of damage, rot, decay, or mold as you walk through.
No matter how little time you have to walk through the house, always stick to due diligence – which is ensuring you are buying a home of good quality no matter how beautiful it may be. Here are a few options to ensure you get as much information on a home’s quality as possible:
What should you look for when touring old and new homes? Make sure you buy a home of good quality and without any lurking maintenance issues with these tips and techniques. To increase your chance of making the winning bid, First Savings Mortgage can help you get a pre-approved mortgage that you can show to sellers to strengthen your bid.
Contact us today to learn more.