We are deep into looking at property after
property for our new retirement home. Searching through listings on
the internet, reading between the lines.
I get that the job of
marketing a property, entails piquing the interest of the potential
purchaser by focusing on the positives and minimizing the negatives.
This increases traffic.
Just needs some TLC (plan on spending a
lot of money)
Cute
(super tiny house)
Ranch
(in the area we are looking that could mean a double wide
manufactured home)
As is
(better check that house thoroughly, i.e. mold, lead paint,
asbestos). These are expensive things to correct.
Yes, we visited this place.
1. I
recommend you use an agent. Trust me, they are able to see and do
things you would be hard pressed to find. Even then, educate yourself
as much as possible.
2. When
working with your agent, be completely honest.
I talk
about what is going on in my head. When looking at pictures together,
I mentioned that I thought the carpet was UGLY and it will want to
replace the carpeting. While this isn't a deal breaking, he knows I
will be considering that when I make my offer.
After examination
of a property, we tell him exactly what our absolute offer is going
to be. I let him deal with original offers, counter offers etc.
3. Know
your budget and stick to it. Note I didn't say, know what you qualify
for. For us that means that when all of this is said and done we will
be debt free. We will not be financing any of this. That budget
figures into our offers.
4. Be realistic: we know that our budget means we won't be getting everything we want. It won't be pristine and we will have to need to
5. Know
what is important and necessary vs. what you wish.
For us
it must be structurally sound, have some land (1-5 acres), It needs
access to water.
It would be great to have a garage, basement,
fireplace, for this will save us money.
It would
be nice that I actually like the interior vs. knowing that I am going
to paint those peach colored cabinets in the kitchen.
I would
love to stainless steal appliances. But realistically I have only
seen one place in our price range that has them
6. Read
deep into the listings sent to you by by agent to understand what is
being said and what you will need to do to make a place work for you,
I read the listing many, many times before I go to visit the
property. I also look at the pictures many times, not just to see
what is there, but to note what pictures aren't there.
One
place we are going to visit next week, doesn't show a picture of the
bathroom. It may mean nothing, but already in my head I am thinking
it may need work.
7. TIP:
When we visit a property, we take a camera and take loads of
pictures. First I take a picture of the address. Our pictures include
the general house, but it focuses on things we need to remember.
Example:
at a recent walk through for an auction all the windows were wide
open to lessen the smell of smoke in the house. What I took a picture
of was where a picture had been on the wall, to indicate the nicotine
build up on the walls. Knowing that information helped remember that
special effort, special procedures, paints and extra money would need
to used to compensate for the heavy build up of nicotine.
There
you have just a few tips I have been learning as we look for our new
home. We are still actively looking. This takes time and patience.
Have you any tips to share?
