21 Mar Common Problems Faced by Homebuyers

Shopping for a house can be overwhelming. Not only do you have to consider the price and location, but you also must evaluate every little detail of the house itself. A home inspection is imperative before any home purchase. And while certain home defects should give you pause, there are some that shouldn’t deter you from buying the property of your dreams.

If you are purchasing a property as-is, you’ll want to work with an attorney and a licensed contractor so you know what you’re getting into before you commit to purchase. The seller could identify a specific aspect of the home that prompted the as-is status, like the fireplace or pool, or they may indicate the entire property is under that label. Being noted as-is does not’ have to be a deal breaker, but you want to go into the purchase well informed.

Fortunately, most properties are not as-is and have repairs that are quite easy to address. Below, The Collins Real Estate Team presents some of the most common problems faced by homebuyers along with some repair solutions:

Exterior Issues

Let’s start with a few common home exterior defects that homebuyers run into:

• If the exterior of the property looks hopelessly run-down, think of some DIY upgrades that you could make to turn it around.
• Window and door problems that lead to water penetration can often be fixed by replacing weatherstripping or caulking.
• If the siding or brick has seen better days, getting it repainted can make a world of difference.

Interior Issues

You might immediately notice problems with the interior when touring a property, but don’t let these issues keep you from closing the deal:

• Repainting or refacing kitchen cabinets can give the whole space an updated look.
• If you have hardwood floors that need some TLC, you can refinish them in a week or less.
• As with the exterior, painting your interior walls can instantly transform a space.
• Replacing light fixtures is pretty easy and can add a modern touch to any room.

Other Issues

Even major issues can be resolved with the help of a professional.

• With the Frontdoor app going live, it’s easier than ever to connect with service providers to meet whatever needs you have.
• Any structural problems with the roof, foundation, or framing should be addressed by a professional contractor.
• Poor air filtration can be resolved by bringing out an HVAC technician and keeping up with your filter changes.
• If the property has any major plumbing problems, you can get a master plumber out to fix them.
• While you might be able to handle minor electrical projects yourself, (like changing out a light fixture), call an electrician to handle any rewiring needs.

If you’re assessing potential repairs, you’ve likely been prequalified. However, that is just the first step in the homebuying process. You’ll need to get preapproved for a home loan next. This process does more than estimate how large a loan you can qualify for. It requires showing the lender that you are good with money, which they will assess through your credit score, and that you have the income necessary to repay the loan. They will look at paystubs, and your income to debt ratios to determine how much of a loan they are willing to offer you.

Buying a home is an exciting and stressful time. It’s important that you are realistic about how much house you can afford, including the kinds of repairs and updates you’ll need to make. Most properties have at least one problem that shows up on a home inspection, but not all issues should prevent you from making a purchase. Work with experienced agents like The Collins Real Estate Team who understand the ins and outs of the home buying process, and you will be enjoying your new home in no time.

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