Will you prioritize cosmetics or the bones of a house?: 5 numbers
Given that, for most people, the financial value of their home is one of the most valuable of their financial assets, and with home prices, in the last few months, increasing at an unprecedented rate, isn’t it So? Does it make sense to proceed with care, wisdom and intelligence before making such a big commitment? One of the reasons so many use staging to enhance the perceived appeal/value of a specific home is because many potential buyers seem incapable of seeing the big picture and look past simply the cosmetic first – look! So it would be wise, before you buy any real estate, to ask yourself if you’re just looking at your first look, rather than the so-called bones of a house. With that in mind, this article will briefly attempt to consider, examine, review, and discuss 5 relevant issues.
1. Main systems and components: Avoid the temptation to let your short-term emotions overwhelm your logical components! While you can always paint a house, change a kitchen, redo, flooring, or do other renovations, a home’s major systems and components, such as the heating, air conditioning (HVAC) system, plumbing, and electrical quality are usually general, much more, relevant and significant.
two. Local Zoning Rules: It is important to carefully and thoroughly check the zoning rules and regulations of the specific area, so that you know what can be done. This is related to making certain changes, such as renovations and certain repairs. Some communities have certain requirements, which dictate the maximum percentage, one house, maybe, of the total lot. Others restrict certain things and/or make renovation unreasonably expensive! A wise consumer closely examines these, in advance, to ensure the best personal results, etc.!
3. Pros and cons of the specific location: While you can modify certain aspects of a house or property, you cannot change the specific location of that house! Walk around the neighborhood, at a variety of times and in multiple directions, to learn as much as possible about the area. If possible, try to talk to one of the neighbors, look for the amenities, in the area, prioritize, etc, so that you can go, in the future, to the satisfaction of living somewhere. Don’t ignore the quality of the school system, property taxes, security issues (low crime rates), convenience of Houses of Worship, and specific amenities like food stores and pharmacies, etc.!
Four. Immediate repairs and renovations, vs. wish list: What would you want to immediately repair or renovate before you move in and how expensive would it be? In your mind/calculations, add those costs, to the cost of purchase, and compare it to a similar house, where those things have already been addressed! This is different from the so-called wish list, which you would like, but it is not a deal breaker!
5. Examine total costs and your personal comfort zone: Be careful, to avoid becoming a rich, but financially stressed and challenged house! The more you know and understand, the better your inevitable results, etc. will be!
Almost everyone changes something in any house they buy, such as paint, flooring, etc. Take the time and effort to look deep into the bones of a house!