So, you’re a “property virgin” huh? FANTASTIC! Here is a few tips from Sandra Rinomato from Property Virgins to help with your “first time”
- Before you begin to house shop, you need to have an idea of what kind of neighborhood you want to live in and the style of house you want.
- Real estate never sleeps. If you’re trying to buy a hot property, you have to move quickly, or you could possibly lose it.
- When you are looking at a house, you have to have a wish list, but you have to understand that no house is going to be perfect.
- Don’t judge a book by its cover. Same goes for a house. Go inside and look around before making a decision.
- Properties in good shape are rare, and they don’t stay on the market for long.
- When it comes to investing, the best place to invest is in an up-and-coming area.
- You have to see past the junk and see the potential. When you buy a house, it’s not just a place to live in, it’s an investment. Keep in mind your dollars down the road.
- Brand-new condos tend to be smaller, sometimes no larger than one bedroom, while older units typically have more square footage.
- You can’t negotiate maintenance fees with a condo, and those fees tend to go up periodically.
- You don’t necessarily want to buy in a building that has a high percentage of tenants because they don’t take care of the property the way they would if they owned.
- If you’re going to live in a city, you often have to sacrifice space.
- A middle-unit townhome is often less expensive than an end unit.
- Feelings often take over the first time you go through a house, but the second visit allows time to do a thorough inspection led by your head, not your heart.
- It is especially important to have a home inspection if you are looking to buy an aging or older house. They look past the visible surface to the infrastructure, inspecting plumbing and looking for faulty fixtures and waste lines. They check electrical systems to make sure they aren’t overloaded or a safety hazard. They also look at possible structural problems like the foundation, walls and floor joists.
- Reality often outweighs fantasy when it comes to buying a home.