
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.