Buying a Home – What to Look for

When buying a home, Myanmar Real Estate Exchange will fill you in on what you should look for.  You need to know what to look for when buying a house so that you don’t go in blindly and end up buying something that is only going to be problematic. There are important thing that you need to include on your checklist and here are the big ones.

What to Look for

1. Foundation, Roof, and Systems

Some of those things we don’t think about just so happens to be the ones that matter the most to the home. A new, sturdy roof and a solid foundation is a great sign. If there is a small crack in the foundation wall or shingles that are showing signs of aging, it can turn into big issues. A new roof should last you between 20-30 years, but if you buy a home with an old roof, it can cost $5,000 to $10,000 (or more) just to replace it. If you were to ignore the roofing issues, this can cause damage to entire house, and this includes the foundation. As for issues with foundation, that can get into the thousands to fix.

Along with foundations and roofs, it is important that you also check the following:

·         Electrical

·         HVAC

·         Sewer or septic (if the home has one)

2. Check for Signs of Water Damage

Water is bad for a house – it can destroy floors, walls, foundations …basically, it can bring the entire house down. Finding the origins of the water problem can be hard to find and fix. So, make sure you search for signs of past water damage as this can be a warning of future damage.

3. Renovation Needs

Odd paint colors and ugly flooring draws a lot of attention, but those are easy, and fairly inexpensive to fix. A house that is perfect, except that it needs a complete kitchen remodel may not be as perfect s you think. This is because a kitchen remodel can cost more than $20,000, and the price can really go up there if you’re not careful. Before you put in an offer on a fixer-upper home, make sure the price, plus any renovation needs on your checklist will fit in with your budget.

4. The Windows are Easy to Open

Having original windows  in an older home can look amazing, but if they don’t work, they’re not so great. Sometimes, the older windows may be painted shut or they may not be airtight, which can cause the electric bill to really go up there. Plus, windows that aren’t opening up properly can be an indication of foundation problems.

5. Check for Health Hazards

Older homes can be quite charming, and sometimes they can contain asbestos, mold, and lead paint. When buying a home, these are the big issues you need to check for. A home inspection may not find asbestos and mold-prone materials, so it is left up to you to have the home professionally tested.

For lead paint, you can go to the local hardware store and purchase a cheap test kit and do the test yourself. Mind you, these don’t necessarily have to be dealbreakers, but knowing about them will allow you to negotiate with the seller as you will have to pay money to fix the issue.

6. A Clean Insurance History

A real estate agent can help you discover insurance claims that have been filed on the house within the past 5 years. You can have the seller provide what is referred to as a Comprehensive Loss Underwriting exchange. If you learn that the kitchen was remodeled after repeated water damage, you may look at the new kitchen flooring in a different light.

7. A Good Neighborhood

If you choose the wrong neighborhood while looking for a home in Myanmar, it could end up being a real downfall. If you love the idea of walking to restaurants and enjoying nightlife, then you’re probably not going to be happy in suburbia. If you fall for a home that isn’t in a good school district for your little ones, that is a no-go. Whatever you do, make sure you research the neighborhood before you even think about buying the home.

Now that you know what to look for when buying a house, MRX can give you a helping hand with the next home buying steps.