Buying a used home can be a tricky process, as there are literally tons of things that you are going to have to inspect thoroughly. For most of Than Merrill’s Fortune Builders students, buying a home is likely the biggest asset they will purchase during their lifetimes. There are a handful of things that you are going to want to pay very close attention to and examine closely, although if you do not know what you are doing, you should probably hire a professional to assist you in assessing the property.
There are a ton of different components that make up a home, all of which you are going to have to take into consideration. These things will need to be weighed against the overall asking price of the home and may give you some leverage when it comes to negotiating an offering price and eventually putting in an offer. A home is not valued simply on the way that it looks and the size of the house, as the majority of a home’s pitfalls very likely could be hidden. You are first going to want to assess the house for its appearance inside and out, which should give you a starting point. You are going to want to find everything you can about the plumbing system, the HVAC unit, the electrical components of the home and everything else that plays a role in the overall functions of the home. You are going to want to study the overall prices of relative homes in the area, which should give you something to compare the asking price to. If the price is way higher, or far lower than comparable homes in the area, this is something you are going to want to inquire about.
You will want to find out if there has been any major damage to the home and check paperwork on when certain fixes and upgrades were done to the home. You should assess the crime rate in the area, as you do not want to purchase a home and come to find out that you are in a dangerous area and you should find out about the school districts in the area if you have kids. There are so many things that go into the assessment of a used home, so if you don’t fully know what you are doing, you should seek some outside help. There are plenty of professionals and companies that can help you through this process. If you live in the San Diego area, there are a ton of viable properties that you can sift through and you can definitely hire some help in the area to assist you through the process.