First Time Home Buyers Guide: Before and After the Home Inspection

What You Should See Before and After the Home Inspection?

House inspection should be included in your checklist, if you want to invest in worthy projects. It is a visual evaluation of the structure or building of the houses and must-have check-ins for those planning to buy a house. You’ll have to do this in order to gain knowledge of property you’re buying and determine parts, which require extra care or repairs. A professional qualified home inspector will see each and every area, such as wall, heating or air conditioning system, ceiling, and electrical or power installation.

If you hire a licensed and trained inspector, the chance of getting accurate results will be more. The price of the evolution depends on the size and position of the houses. You can easily locate a good inspector online or take help from realty professionals, such as John D Wood Estate Agents. The main aim of the inspector is to visually inspect the house that’s having major components and systems. It is a non-destructive or non-evasive method, which doesn’t harm the healthiness of the home. What you should know about the entire home inspection process is explained below.

Before The Inspection

First of all, you must select an inspection firm with top credentials in order for you to make a wise investment. Choose the one who understands your necessities and will work with you, making you to reach your expectations. It is worth to consider one who has license to practice home inspection. It is also good to hire them to avoid paying twice. If you take help from normal home inspector and if he finds out an issue related to structural damage, which needs suggestion from a licensed or professional home inspector, you’ll have to pay twice here. Not only will appointing a professional or licensed engineer save you money, but also time as well. Make sure to get a detailed written report, and not just a normal checklist. If the report is having a seal from the engineer, it would be the key to your home protection. The detailed report should have all the details and suggestions that a home buyer needs.

After the Inspection

It’s not just hiring them or leaving everything to them, you need to attend the inspection- it is the best method to get to know about the house and its components and major systems. Also, check out if the inspector or engineer is having the necessary equipments or tools with him. He should carry the required engineering tools, such as moisture meter, flashlight, inspector mirror, level, carbon monoxide and fuel gas detector, ladder, and more. Also, see to it that heating, air conditioning, plumbing, electrical, and other physical systems are thoroughly evaluated.

You should know the condition of the house you are planning to buy, including both positive and negative features. You should know what things are damaged and find out whether it is a major or minor fault, so that you can determine what repairs are required. You should also know about the alternative choices available and what safety issues need utmost attention. Make sure you understand everything written in the detailed report and it should have the engineer or inspector’s seal. Make sure to get the report on the next working day or very soon, once the inspection has been done, so that you can carry forward with the repair at the earliest.

Why do you have to Avoid Buying House on Block?

Is Purchasing Cheapest Home on Block a Wise Investment Strategy?

As the realty industry begins to heat up, we sometimes fail to remember what actually happened or affected in the past.  We go so busily in the house hunting process, in order to own the home of our dream. Sometimes, we even forget to see the old or traditional realty adage, i.e. location. Sometimes it is good to look back for a while and step towards future. Imagine about the plot you’re purchasing now and think of selling it after some years. Think from both positive aspects (like increase in price or high demand) and negative things (such as problems or issues that you may come across). If you take all these facts into account, you might go in the right direction and avoid making common mistakes that most of the people commit- building or purchasing the best homes on the block.

Since the realty market is tough, it is hard even for sellers or purchasers to make financial commitment. There is tight inventory competing in the industry for a smaller group of shoppers. In this challenging market, you need to know why you aren’t supposed to purchase the best homes on the block.

No Super Size

Couple of years back, at the top of the real estate business, owners used to buy a small fixer-upper and then expand and renovate it to get better value. But, they used to end up selling it in the worst market, as they weren’t having enough knowledge about this field. If the house wasn’t getting sold, they had to forcefully cut down the price, ultimately experiencing the big loss. They actually would have purchased the plot at high rate or when the market condition was pretty good enough and eventually sold it off in a declining market. However, this isn’t the only reason- the other side of the home was a flat or apartment. You’ll have to consider proximity of the house and apartment building next. Do not expand your home when it has been covered by properties, which are not equal in value.

Look at the Neighbourhood

If you look at today’s market condition, be it recession or bust, buying the best home on block is big ‘no’. From the investment point of view, purchasing the biggest homes on blocks is not a good strategy at all. The value of the houses in a neighbourhood are intertwined due to the comps, which play a big role in determining what to pay for and how to price a house. If your property is surrounded by other houses of noticeably lesser value, the price of your home also will be limited. Hence, it is better to avoid purchasing a home on a block with apartment building, parking garage or rented houses. If you are very confused or need some expert help, it is recommended to seek guidance from professionals like John D Wood Letting Agents or any other renowned real estate agents near your area.

If you want to invest at all, you can purchase worst properties on the best blocks. You can anyway enhance or upgrade the home, eventually getting more value. Since it is available on a great block, the chances that you’re getting maximum returns on your investment will be high. If you work properly, you can turn the worst property on block into the most expensive and valuable house.