There are three key ingredients every home buyer should use in their evaluation when purchasing a home. And, the spice that blends it all together is being honest with yourself when having your prospective new home inspected.
Always keep in mind that no Home Inspector can tell you whether or not to buy something. They can only report on the visible condition of the home at the time of the inspection. Pay attention to him and read between the lines as you evaluate, in realistic terms, your abilities and finances.
There are three key ingredients or criteria to keep in mind as you evaluate the purchase of your home.
Begin by adding the cost of the purchase price to the projected cost of the needed repairs or upgrades. Will the end value fall in line with the rest of the neighborhood?
If not, then you may want to re-evaluate the purchase price.
If the numbers work out, then be honest with yourself by futher asking:
“Do I have the TIME, the KNOWLEDGE, and the MONEY to make those repairs and upgrades if the seller is unwilling or unable to?
If you don’t have the KNOWLEDGE to make home repairs or upgrades, then you will need a significantly larger amount of MONEY to pay contractors for that service. If you do have or are confident in your KNOWLEDGE or home repair, then you have to determine if you have the TIME to make those repairs.
And, when you’re looking through your prospective new home, refer to the Wall to Wall Repair and Remodel Guide to help in your evaluations.
Being honest with yourself as you evaluate your prospective new home is the best advice that can be given.
Always remember, If it was not meant to be, count your blessings rather than your disappointment.