Note: This is Part II of a two-part series from our Denver Realty Team. To start at the beginning of our House Hunting guide — in which we discuss Size, Location, Number & Type of Rooms, and Kitchen Design & Layout — please click here for Part I.
In Part I of this blog series, we discussed four of the eight essential features any future homeowner should assess in a prospective residential property before deciding to buy. To read about or review the first four fundamentals of house hunting, please click here! Now, on to the second and concluding installment of our House Hunting blog series.
To conclude our House Hunting blog series, in Part II of this home buying guide, we’ll be covering these final four features that every prospective home buyer should seek in a future residential property:
- Appliances
- House History & Age Of Property
- Price
- Why It’s Being Sold
To view Part I of our House Hunting guide — in which we discuss Size, Location, Number & Type of Rooms, and Kitchen Design & Layout — please click here to read it.
Home Appliances
Depending on how you view technology, the appliances that a house comes with may or may not be a major factor in your decision to purchase the residential property. However, even if you’re the kind of person who fancies themselves more of a traditional, book-reading, analog individual, you may still be curious about the advantages (and disadvantages) that a home’s pre-installed appliances may offer.
Many homebuyers and homeowners are drawn to a given residence’s appliances for one of two reasons: a) because it has rustic, older looking amenities; or, b) because it has the opposite. If you’re the latter kind of house hunter, who values the sheen and shine of modern chrome and steel, whether it’s a plumbing fixture or the kitchen refrigerator, then you may be best off spending a little more time searching for the ideal home that already includes the types of appliances you fancy.
You may be thinking, Well, if I like the rest of the house, can’t I just buy new appliances to replace the ones I don’t like? Absolutely, but you’ll need a lot of spare change — ahem, that’s an intentional understatement — to make it happen. From integrating an internal electrical power system with a newly installed solar panel system, to replacing a gas stove with a high-tech electric range, you’d be surprised just how quickly your paperless receipts can pile up — figuratively speaking, of course.
So, to save more money in the long run, should you settle for a house with older appliances that will eventually need to be replaced anyway? Not necessarily. Many houses currently on the market offer a hybrid assortment of appliances due to gradual upgrades and updates made by previous homeowners. Perhaps the gas stove has a little char here and there, or the fridge shows a couple scratches if you look closely, but more often than not, you’ll find that these “outdated” appliances are offset with newer, more modern products.
Whether it’s a fancy espresso machine, a high-powered blender, or a stainless steel mixing bowl and a baker-approved convection oven, there’s something for everyone to love in nearly all contemporary kitchens. In other words, there may not be an app for finding a 100% perfect home to buy, but there’s certainly an appliance to be found in every house, new or old, that’s worthy of even the most tech-savvy individual’s appreciation.
Property Age & House History
As you go about inspecting prospective homes on your house hunting journey, you’ll also want to consider the age and history of the property. Just because a house was built in the last decade and looks newer doesn’t necessarily mean it was constructed using exclusively high-quality materials and workmanship. In a corresponding yet converse way, just because an older house was built half a century ago doesn’t necessarily mean it’s bound to collapse the moment you step through the front door.
Be sure to do your research on a residential property, and be careful not to take the realty agent or seller’s word for fact. After all, they’re trying to close a deal on a house, not to convey an accurate historical recounting of the structure’s deep, dark past. Unless, maybe, the house for sale is haunted, in which case, that’s a scary good marketing angle.
Listing Price
You may think that the only thing that matters about a house’s listing price is whether or not you can afford it or secure adequate financing. But what many homeowners or house hunters don’t consider is that a listing price is an arbitrary figure, and that this price can occasionally be negotiated to a lower number. In any case, a truly great buyer’s agent will be able to negotiate on your behalf to come up with a fair solution.
Additionally, the listing price of a home doesn’t always reflect its true value. Sometimes appraisals are way off base because an inspector overlooks a glaring shortcoming, or perhaps the seller is trying to hide something they’re afraid would decrease the residential property’s value.
On the other hand, there’s also the off chance that a house listed at a lower price could prove to be extremely valuable, whether due to an overlooked historical status, a change in real estate market conditions, or another hidden gem just waiting to be uncovered. You never know exactly what you’re getting with a home purchase, whether it’s a brand new unit or a renovated residence, but in all honesty, that’s why buying a house is so exciting and fun.
Why Is The House Being Sold?
Keeping listing price in mind, you’ll want to have an explicit understanding of why the house you’re interested in buying is being sold. Is the seller planning to downgrade or upgrade to a smaller or larger residence, and if so, what prompted them to do so? Or perhaps a job opportunity is taking the seller out of state, so they have no choice but to put the property on the market. These are common enough explanations, but you’ll want to be sure there aren’t any major issues or flaws with the house that may have caused its current owner to want it put up for sale.
Conducting a pre-sale inspection is one of the best ways to prevent getting tricked into buying a dud of a domicile, just like some unfortunate car owners have been duped into spending loads on a lemon. Pre-sale inspections will afford you with the peace of mind or the property specs you need to know if the home is truly right for you — and if the listing price truly reflects that value, however low or high the dollar value may ultimately be.
Congrats! You’re A House Hunting Pro. What’s Next?
Thank you for reading! For more home buyer and real estate resources, please visit our main blog page. If you’re interested in working with a buyer agent as you continue on your journey to home ownership, please contact Brandon & Lana today.
With more than two decades of combined experience in the Denver real estate industry, this dynamic duo of property pros is one of the most trustworthy teams for any home buy or property transaction in the Greater Denver Metro area. You’ve got nothing to lose and everything to gain by reaching out, so we encourage you to schedule a no-risk, free home buyer’s consultation with Brandon & Lana today!
