Buying a home is a life-changing decision. You will spend a lot of time thinking and contemplating before actually making it.
You may even consider buying a pre-owned home. Why not, right? They’re cheaper and you won’t have to wait months before moving in. You also won’t have to deal with architects and engineers because all that’s done with already.
Purchasing a pre-owned home will require you to ask a million questions. Is the house sturdy? Is it built to last? Is it reinforced with a deformed bar? What materials are the roof made of?
Just because you’re buying a pre-owned home, doesn’t mean you don’t have things to worry about! It will still be a stressful and grueling process, but we’re prepared to give you a few tips to make it easier.
Know the History of the House
Right off the bat, your realtor will tell you about the property’s past. You will find out who lived there and why they left. While these are valuable information, try digging a little deeper, especially if it’s a really old house. Go back 10 or even 20 years. Check that all property transfers were made legally.
If some kind of fraud happened in the past, all succeeding contracts and deals may be nullified, and you wouldn’t want to involve yourself in that. If you can afford one, hire a lawyer to help you with the process.
Constantly Visit for Inspections
This goes without saying but you should inspect the house as often as you can and as often as you need to.
If there’s a certain structure you’re worried about, go to the house and check it yourself. If you want to know whether the house is supported with a deformed bar from the Philippines or some other material, then consult an expert.
Don’t just ask your realtor for this information; go and see it with your own eyes. Additionally, ask to see the house on a random day – one that isn’t set by your realtor.
Random inspections will catch realtors off guard and they won’t have time to make the house look pretty. This will allow you to see all the damage and flaws the house has.
You then have to determine whether these damages can be fixed or not. You will also be able to renegotiate the price since you can use the information gained through the inspections as leverage.
Prepare for Additional Expenses
Purchasing a pre-owned home comes with additional fees and expenses much like how it is for other types of property.
You may have to pay maintenance and/or parking fees and the like. It may also be necessary to do repairs and renovations.
So before you sign the paper, ask for a rundown of expenses including any fees necessary to make the property transfer.
If you’re thinking of moving or simply looking to purchase your own home and you’re considering a pre-owned one, follow these simple tips that will help you find the right one.
Don’t always take the word of realtors and sellers. Do your own research, inspect the house constantly, and make sure you are financially prepared.
It doesn’t take an expert to do these things. You just have to allow time and exert more effort. By the end, you’ll be able to find a home that fits your style and needs!