When Dream Homes Become Nightmares

Know What You’re Buying

money pitThe British call them follies. Hollywood made a movie about them. Reality tv has dozens of shows devoted to them.

What are we talking about? Money pits, like the horror story featured in this 2016 New York Times article.

When you’re shopping for an existing home, it’s easy to get caught up in the emotion of the moment and lose track of the cold facts that often lurk in the background of virtually any property that’s been around for more than a New York minute.

Before You Say “I Do”

There’s a basic list of considerations every buyer should be aware of after they’ve gone through the listings, found a few favorites, and are actively engaged in the inspection stage. This is when the adrenaline starts kicking in and reasoned judgement tends to give way to the excitement of your very own dream home.

Typically you’ll be escorted by the seller’s representative, whose job it is to focus your attention on the positives while minimizing the negatives. And if the property you’re inspecting happens to particularly strike your fancy, their job is that much easier.

Ask Hard Questions, Demand Good Answers

Keeping a clear head about what could be hiding in the shadows can be challenging. As you move through the process of evaluating your potential new home, you’ll weigh the neighborhood, shopping, schools, work commute, and dozens of other location related factors.

At the same time you’ll be influenced by the fresh coat of robin’s egg blue in the halls, the crisply folded French hand towels in the kitchen, and the sparkling white brilliance of new subway tile in the bath.

It’s when you’re most vulnerable that you consider the condition of the HVAC, plumbing, electrical, gas lines, roof structure, insulation, and several other factors when coming to a decision. Hopefully you’ll be able to set emotion aside and make a decision that’s aided by a well-qualified home inspection. Here’s a short list to help make the job of sorting wheat from chaff a lot easier when it comes to understanding the commitment you’re about to make.

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