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 recent months, increasing in an unprecedented way, isn’t it So? Does it make sense to proceed carefully, wisely, and intelligently before making such a big commitment? One of the reasons so many use staging to enhance the curb appeal/perceived value of a specific home is because many potential buyers seem unable to see the big picture and look beyond simply cosmetic first – look! Therefore, it would be wise, before purchasing any real estate, to ask yourself if you will simply be looking at its first glance, 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 topics.
one. 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, major systems and components of a house, such as the heating, air conditioning (HVAC), plumbing, and electrical quality are, at 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 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 a house can be of the total lot. Others restrict certain things and/or make the renovation excessively expensive! A wise consumer, closely examines these, in advance, to ensure personal best 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! Take a 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, safety issues (low crime rates), the convenience of Houses of Worship, and specific amenities such as grocery stores and pharmacies, etc.!
Four. Immediate repairs and renovations, versus wish list: What would you want to repair or renovate right away before you move in and how expensive would it be? In your mind/calculations, add those costs, to the purchase cost, and compare to a similar home, where those things have already been addressed! This is different from the so-called wish list, which you might like, but it’s not a deal breaker!
5. Examine the total costs and your personal comfort zone: Be careful, to avoid becoming a rich house, but financially stressed and challenged! The more you know and understand, the better your inevitable results, etc.!
Almost everyone changes something in any house they buy, like paint, flooring, etc. Take the time and effort to look deep into the bones of a house!