Buying a new house is one of the bigger decisions you'll make in life and at the end of the day, you simply want to make the best choice and end up with a home you love. There are lots of things to consider when looking for a new house, but here are five hidden things that may not get brought up by your realtor.
1) Reality of renovations
While it may seem like making a few renovations is no big deal, the process can consume a lot of time and energy. Be honest with yourself about all aspects of the house. How many renovations would you need? Can you do them yourself? Trying to tackle home repairs can add up quickly, especially if you end up needing someone else to fix your mistakes. There's no shame in renovations, however, so make sure to take the cost into consideration when comparing homes.
2) Quality appliances
It’s important to understand the state of current home appliances. Make sure all of the major appliances and systems are in top working condition. If you buy an old house, the appliances are likely old and could break down anytime. Ask the seller for all paperwork on these appliances just so you know what's covered in the event of a breakdown. According to House Method, you could have the seller include a home warranty in the negotiations to make sure the systems are properly covered. This will take the burden off of your shoulders and ensure that you will not have to budget for additional appliance repair costs.
3) HOA rules
One thing you may not think about when buying a new house is whether there are Homeowner Association rules associated with your neighborhood. Make sure you read the fine print and understand what you will and will not be allowed to do at your new home. For example, is there a limit on the number of plants you can have in the front yard? Can you paint the exterior of your home a certain color or are there rules outlining what colors are appropriate? Believe it or not, there are lots of HOA rules that could be a dealbreaker for some future homeowners.
4) Rush hour commute
Although a long commute may not be a deal breaker, you want to make sure you know what you’re getting into when you’re buying a new home. Try to understand the true cost of commuting. If you’re serious about a home, wake up early one day and do a test commute to your workplace. At the end of the workday, drive to the house again. Take into consideration the cost of gas, wear and tear of the vehicle, and the higher risk of an accident. Make sure that a long commute is something you can live with before making any big decisions.
5) Hidden mold
In some instances, mold can be hidden under a layer of paint, unbeknownst to a new homeowner. Confront the seller and inspector to find out if there are any possibilities that the home could be infected by mold. Some states may or may not have a law about disclosing mold, so it’s your responsibility to understand the questions to ask. There are tons of warning signs that could be signs of potential mold problems. Don’t assume that your dream home couldn’t be damaged by mold.
