Buying a home is a complicated decision. Many factors go into finding the right home for any family. This includes price, location and the general overall condition of the home. There are many types of homes on the market today. Some homeowners chose to opt for new construction. Others may decide they would rather buy a previously owned home.
If you are thinking about the latter in the Winston-Salem area, there are many factors that need a lot of careful consideration. A previously owned home can be just right for many buyers. At the same time, many homes that have been owned by someone else may need at least some work in order to bring them up to current housing codes. Minor home condition issues are common. The same is true of much larger problems such as plumbing that might be backed up or outdated. Any potential home buyer needs to be very careful during the purchasing phase. A home is the biggest fiscal investment most people will ever make. The right choice at the right time can add to your comfort and your bottom line.
Location and Budget
Two of the most important considerations when buying a formerly owned home in Winston-Salem are the location of the home and the amount of money you want to spend. Ideally, it’s best to keep to a housing budget of no more than a third of your after-tax income. Consider making a list of your expenses for a week or even a month before you buy. This will help you get a handle on the kind of actual expenses you have in a given time frame. You can often see where you might make a few changes and save even more for your down payment, Keep in mind a previously owned home may have more expenses than new construction. This is why it is a good idea to allow at least ten percent more in your housing budget if you are considering a home that has been built already.
Location is another factor to bear in mind as you look for a home. There are numerous advantages to buying a previously built home. In many instances, such homes have lovely mature landscaping. Your lot may come with a grove of beautiful trees and a rose garden. An older home also be located in an established part of the region with easy access to amenities such as nearby highways and well-developed parks. Your home may also come with some site issues you should know about. Find out if the home is located in an area that might be prone to flooding or other issues related to the site. Walk around the grounds. See if you see any areas that have water accumulation. The owner should be able to tell you the benefits and the drawbacks of living on their property.
The prospect of buying a home is one that many buyers find exciting. When working with an individual buyer rather than a home construction company, buyers may shy away from asking important questions about the property. Keep in mind the buyer wants to sell that home. Asking them questions indicates interest in it. This is the time to ask the person who’s lived there the questions you really want to know. Find out the age of each appliance. If the water heater’s been recently installed, the seller should be able to offer evidence and even a warranty. The same is true of other systems in the home. A good seller is one who can offer as many details as possible about the entire home. If the seller seems hesitant, consider this a red flag as you move forward.
Sellers are not required to disclose certain issues. When you speak to them directly, listen to exactly what they have to say. A seller may be willing to tell you things the agent will not such as the fact that basement floods when there’s a very heavy storm. This is particularly true when it comes to any residential plumbing issues. If you’re really interested in the property, it makes a lot of sense to pay extra to make sure it’s all in good shape. For example, a sewer line inspection of the home’s residential plumbing can and will reveal problems that might have otherwise gone unremarked.
When buying a previously owned home, buyers should above all feel a sense of confidence as they put in an offer. Take as much time as you need to research neighborhoods in the area you like best. Buyers who are buying a previously owned home are not only buying a home. They’re also buying into a community. Allow enough time to figure out which areas in Winston-Salem appeal to you most. If one home isn’t right, another home on the market might be an even better choice.
All homes should be carefully inspected and examined by professionals. If a problem does arise, it is best to address it as soon as possible. This is where we can be of help. If you have any problems with the plumbing in a previously owned home, we are there to help. Please call us or submit a request. If you would like to request an appointment for an estimate or a service call to resolve a plumbing issue please call (336) 788-3966.