Most homebuyers start their searching online… and with new listings posting online, that will be your main tool throughout the process. Homes can look awesome online, that’s our job as Realtors! But our job as Realtors is also to highlight the best features and minimize the drawbacks. That is where you almost become detectives, figuring out the good, the bad, and what is being ignored.
It won’t take you long to realize that the online listings don’t tell the whole story, and that you can be surprised either way. If you love the location, take a look even if you don’t love it online… you could be surprised. If you love the house online, also take a look… again, you could be surprised when you see it in person.
Most people stay in their home 5-10 years before selling, some stay for decades. You should plan to stay at least 2 years to avoid capital gains tax.
Key points to consider to determine if a home is the right fit for you.
- Non-negotiables – decide what your non-negotiable features are and don’t lose that focus – it should be things that can’t be easily changed, such as location or structure
- Location – is it a comfortable fit for your lifestyle? is it a location you want to call home?
- Ability to change over time as your needs change – consider life events that could influence your choice: marriage or moving in together; having or adopting kids and animals; kids leaving for college or their own homes; adult kids or other family members moving in
- Maintenance/updates won’t break you – will you have to invest in major things like roof, windows, HVAC and do you have the funds to do so? will you have to do a significant remodel just to be comfortable living there? if so, is that something you are able/can afford to do?
- Most people can ‘feel’ when a home is right almost as soon as they enter – the rest of the visit is looking for reasons to buy, and making excuses for its shortcomings
Don’t reject a home if it is in need of some updates. Sometimes a ‘Grandma’ house is one of the best values you can find… the important stuff like roof, furnace, windows have been taken care of, but cosmetic updates haven’t been made. If you aren’t looking for a quick flip but building a home, here are some things to overlook that you could fix over time to your own taste that aren’t major remodeling investments… think of it as an opportunity to make it your own without breaking your budget if the structure and location are good.
- A home’s age – don’t discount a property just because of age – newer builds tend to have the ‘new’ appeal, but older builds can have more quality construction, materials, charm and character – if they have been updated to your liking (or have the potential for you to add your own updates) older builds can have better bones, construction and value
- Paint colors – repainting is one of the easiest and fastest ways to update a home – if the room structure, window placement and other permanent features are good for you, ignore the paint colors – that can easily be changed
- Wonky wallpaper – wallpaper is coming back in style, but if old wallpaper is the only thing holding you back on a house, think again – that can also be changed
- Kitchen appliances – don’t let old appliances be a deal breaker – think of it as an opportunity to get the appliances YOU want without feeling guilty about replacing the existing ones
- Hardware, light fixtures – these are among the most ‘fun’ and easy items to replace – don’t let ugly ones deter you from seeing an otherwise charming home
- Questionable flooring – plan to leave room in your budget for replacing carpet or refinishing hardwood floors
- Popcorn ceilings – it may be ugly by today’s standards, but it can be removed and doesn’t affect the livability of a home
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
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