There is no doubt that buying a home is a huge investment. There are numerous factors to consider in the process and many mistakes that can be made along the way. Whether you are a group of property managers Boulder Colorado looking for a new investment, or a family looking for your first house, there are many things to consider before buying a home. Five important factors to consider before placing an offer include:
1.) The condition of the roof: Depending on the size of a home, replacing a roof can cost thousands of dollars, with the national average being $8,500 before adding in the cost of labor(https://www.homeadvisor.com/cost/roofing/shingle-roof-estimator/). Before purchasing a home a buyer will want to consider the age of the roof, the current condition, if there are any missing shingles, and if there have been any leaks in the past. Roof leaks can lead to more expensive and time-consuming issues such as mold and mildew.
2.) The Heat Source: The heat source is an important factor to consider, especially in cold Colorado winters. The heat source also determines the cost of utilities. Most homes in the U.S. depend on central heat, this may be provided by a furnace or a heat pump. A buyer will want to consider the age of the heating/cooling source, and when it may need to be replaced. Electric is often the least efficient type of heating/cooling for a home, and therefore the most expensive. Other popular types of heating include gas and oil. If the home has a fireplace, one will want to consider the source of that (gas, wood burning, propane, etc.), and if the previous homeowner has ever used it. A buyer may also want to ensure it is inspected before purchasing the home (https://smarterhouse.org/heating-systems/types-heating-systems).
3.) Plumbing: When you’re looking around in the kitchen and bathrooms, be sure to look under the sinks at the pipes. Is there any evidence of water damage? Are any of the pipes loose or leaking? Is there a foul smell under the cabinets? These are all factors that could point to water damage or mold. If the home has a sump pump, you will also want to ensure it is in working condition, and that there is no evidence of water intrusion around it.
4.) Examine the land: Property managers in Boulder, Colorado will want to consider the size of the property. Will the lawn/landscaping be taken care of by the property manager or will it be required by the renter to do so? If you are thinking of adding a fence, be sure it is allowed in the neighborhood. Some Homeowners Associations have very specific guidelines with numerous restrictions. One may also want to consider if there is any evidence of structural issues, or if there are any signs that may point to drainage issues.
5.) Consider what is most fitting for you: A home may have beautiful fixtures and be in excellent condition, but it also must suit the buyers needs. If it is an investment property the location must be suitable for renters. It is also important to consider the number of bathrooms. For example, a three bedroom house with just one full bathroom may be more difficult to rent than one with two full bathrooms.
Because these are just a few of the many things to consider when buying a home, the process can be daunting. The good news is that buyers do not have to go through the process alone. Hiring a real estate agent is a great way to ensure that you do not miss a beat when purchasing a home. It is also important to have a home inspection done. Many of the issues mentioned above can be found through an inspection, and from there the buyer can decide if they want to ask for repairs, or if they want to walk away from the deal all together. Once you find a property that is best suited for you, be sure you have the right people by your side to protect your investment.
If you want to buy in Denver, Colorado area then Woodruff Real Estate and Property Management would be happy to serve you. They are friendly, responsive and will work with you in finding the prefect home that meets your family needs. Inquire about their services today at www.woodruffpropertymgmt.com.