How to Evaluate a Home
In your search for a new home, resist the temptation to compromise. Do not settle for a house that is in need of costly repairs just because you get a gut feeling that it is the right place for you. Closely examine all aspects of the house with a home inspector, from the roof down to the basement. Compile a list of problems with the house, potential problems and aspects of the house that appeal to you. Do the positives outweigh the negatives?
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Instructions
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Make an appointment with a home inspector. You may not necessarily need to be at the home during the inspection, but if you are, you have the opportunity to ask the inspector questions. Ask questions like whether the furnace or water heater need to be replaced. Examine the inspector's report after the inspection. Look for major problems with the home, such as structural damage, foundation problems, a roof that needs to be replaced and similar items. If there are problems with the home, major or minor, ask if the current homeowner will agree to fix them before the sale. If not, consider whether you are willing to make the repairs.
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Check the tax assessment and ask to see past tax bills. Ask to see past utilities bills (preferably, winter and summer). Check the energy ratings for the major appliances, air conditioner, windows and furnace. Determine whether all these cost factors would place a heavy burden on your budget.
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Call the local police department and ask about crime statistics in the area. Ask whether there are any sex offenders living nearby and if the neighborhood is considered a high-crime area. If crime may be a problem, ask yourself if you're willing to take that risk. Does the house have a security system?
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Drive from your potential new home to areas that you will likely visit often, such as the grocery store, bank, post office, park and your workplace. If the new home drastically increases your commute, ask yourself if the extra time and gas expenses are worth it.
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Drive around your new neighborhood to evaluate other potential problems. Is the home close to railroad tracks or a dump? Do your neighbors appear to regularly maintain their homes and yards, or do they have piles of junk in front of their homes? Visit the area at different times of the day on both weekdays and the weekend. Is the place chaotic? Do the neighbors throw noisy parties on Friday nights? Consider whether the atmosphere of the neighborhood appeals to you.
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Test all the appliances inside the home. Flush every toilet, run the shower, turn on the washing machine and every faucet. Turn on the oven and the stove top burners. Does everything work as it should? Flip every light switch and test the electrical outlets. Do they work? Go to the garage, if the house has one. Ensure that the garage door properly opens.
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Ask yourself if the landscaping appeals to you. Does the house look tidy from the street? If you do not like the trees and other aspects of the landscaping, are you willing to put in the work or hire someone to change it?
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Tips & Warnings
Ask the sellers if they have seller's insurance. This insurance typically covers problems that occur in the first few weeks of new residency. Verify exactly what this insurance will cover.
Consider the school district your home is in, even if you do not have children nor have plans for them. The school district will be a factor when you're ready to sell the house.
References
Resources
- Photo Credit building inspector,woman image by Greg Pickens from Fotolia.com
