I've recently entered into the house hunt, and as a first-time home
buyer, I've got a zillion questions and concerns when it comes to
purchasing a home (many of which I don't even know I have yet). Houses
feel like looming monsters to these untrained eyes, and since banks
aren't releasing their inventory as quickly as I might wish (we're in
the market for a short sale or foreclosure), I'm competing against 7-10
other buyers - many of whom can offer cash - for the same house in my
price range. The hunt isn't easy, but I have one amazing weapon at my
disposal - my husband.
Fortunately for me, I married a general
contractor, and he's teaching me to look past all the off-putting
"flesh" that sometimes comes with a foreclosure - stained carpet, ripped
out appliances, tiny closets - and look deeper at the "bones" of the
beast instead.
By seeing a place for its potential, we're able to consider homes that other folks might shy away from.
If you're willing to put a little time and energy into remodeling, you might be able to
save a few thousand dollars
in the long run - not to mention gain a potential resale profit after
increasing a home's value with the updates. Whether you've got a general
contractor at your disposal or not, here are a few solid tips I've
learned to consider when bidding on a home.
Room to Grow
We don't need a huge place right now since it's only the two of us, but
eventually we want to have room for a few kids. We have a few search
criteria options when considering potential homes. One is to only look
at homes that have the amount of rooms we will
eventually want (two to three, in our case) but don't necessarily need right now. The other is to look at
lot size.
Since Jamie can build on to a home, the best thing for us is to find a
place that has an extended property line in the form of a backyard. That
way we can bid on what we want now with the potential of adding on what
we'll want later. Of course, it's always a good idea to consider the
cost of the possible addition (permit price included) when making a bid.
Will the present lower cost really be saving money in the long run if
we just end up putting an extra $12 grand into the place two years down
the road?
|
A
larger backyard means future potential for adding on to a house.
Meanwhile, I would be able to satisfy my immediate desire to garden.
Courtesy of "Small House, Big Garden." (How appropriate!) |
A Firm Foundation
Another
place we checked out happened to be in a cute older neighborhood next
to a park. It was one of the first Victorian homes built in Sacramento.
Huge trees lined each street, and we would have been near downtown yet
still far enough away to enjoy the peace and quiet of a more suburban
neighborhood. After further inspection, however, Jamie noticed a
major crack
that extended from the ground about three feet up the outside wall. It
had been cleverly disguised with layers of paint, but his trained eye
spotted the issue, and we decided we weren't willing to purchase a home
that needed that kind of major re-shoring. (Other signs of a sinking
foundation can be seen in the roof line. Be sure to look for sagging
roofs when doing a preliminary inspection for a strong foundation.)
|
Cracks
can be a sign of a weak foundation. Check out Askthebuilder.com for
more detailed info regarding what to look for when checking out a home's
structural stability. |
Strong Bones
On the
level with a firm foundation, strong bones play a part in finding the
ideal home. This isn't limited to just the foundation - it includes
internal walls as well. One property we looked at had a great living
room, but the kitchen was somewhat small and closed off to the rest of
the house. By considering the potential of the space, I was able to look
past the current size and see it for what it could be. By knocking down
the wall separating the kitchen from the living room, we could increase
the kitchen size while creating a natural flow from room to room. The
whole floor plan could be rearranged to fit our preferences since the
house had
strong studs and we weren't afraid of weakening the roof.
|
By
knocking down a wall, a galley kitchen can be transformed into a
larger, more open space like this San Francisco kitchen by small square
design. Image courtesy of Design*Sponge. |
Location, Location, Location
The saying is true - it's all about
location.
I could find an amazing property, but I can't transplant it into a
safer neighborhood. One of our recent purchasing prospects happened to
have great bones and a firm foundation, it skirted a neighborhood that
had the occasional car break-in and gang activity (no thanks!) and
lacked a driveway. My husband and I both decided that, while we may
stand to gain some extra money from the investment, we weren't
comfortable with the idea of me at home alone with a future little one,
and while building a garage wouldn't be a problem, there wasn't enough
room on the lot to do so.
|
Neighborhoods
like this that offer both driveway parking and street parking are a
plus for us since we don't want to park our car on the street every
night. |
So the house hunt continues! Are you on the market for a new home? Share your tips with this newbie!