Home Buying Tips Revealed
July 23, 2008 By: Karen Huntoon
Avoid Common Buying Mistakes When You Purchase Truckee Real Estate…
Most buyers want to make sure they get a good deal on the new home they buy and this is especially true if they’re buying in a soft market like we are experiencing right now in the Truckee real estate market. For a property to be a “good deal”, a buyer has to take a look at its condition, the location and the price they’ll wind up paying when the negotiations are all said and done!
The first rule of thumb for buying a new home is to get very involved in the inspection process and to leave no stone unturned. The Home Inspection is very important. There are several home inspection companies that can be employed to inspect homes in the Truckee real estate and Robbie and Karen Huntoon can make recommendations. The home inspector will spend several hours inspecting the home to make sure that all systems are in working order and that there aren’t any serious defects that might affect your decision to buy. Home inspections range in price depending on the size and condition of the home. In Truckee, we usually see price tags between $375 and $450. Most of the reports are easy to read and even go so far as to give estimates of how much it will cost to fix items deemed as defective.
In addition to the home inspection, most buyers also hire a Termite or Pest Inspection Company to perform a pest inspection. There are several pest inspection companies that service the Truckee real esate area. The findings on a termite report are typically described as Section 1 and Section 2. Section 1 items are current and ongoing problems and, depending on your contract negotiations, the seller is usually responsible for taking care of Section 1 problems. Section 2 items are those that are not active but “could” become problems down the road. In the Truckee area, the Buyer is typically responsible for Section 2 items.
A recommendation that is often overlooked is to research the permit history. A quick call to the Town of Truckee building department can reveal if there are any pending or expired permits. If you don’t check the permit history, you could find out later, when you want to take out a permit for a renovation, that there are expired permits for work that never received a final approval from the town’s building department. You might then be required to reinstate the expired permits and finish the job to the building department’s satisfaction before you can take out a permit for a new project. This could be expensive, take time and at the very least be a hassle.
Another item buyers ignore is the cost of routine maintenance. Some homes cost more to maintain than others. Well-maintained homes will be easier to maintain because you’ll have little deferred maintenance to repair. Ask the sellers for information about how much they pay per year for tree trimming, painting and servicing house systems such as the roof, furnace, and drainage systems. Also ask about utility bills in an average winter. All of these things will factor into the cost of owning the home; especially when you are buying a mountain home in Truckee
The area that your home is located in is also an important, yet often overlooked, component to wise home buying. The home is not a good value if you find out a year later that the neighborhood is declining. The Truckee real estate market encompasses many neighborhoods and you should be familiar with each. Check out the neighborhood. Look at the other houses. If you are in a planned development with amenities, look at the amenities. You’ll get a pretty good idea and feel for the new place you are thinking about calling home!
A little homework in the beginning will have great pay-offs down the road. Take the inspection process seriously.
