THINGS TO STAY AWAY FROM WHEN BUYING A HOME

There are a few things you should avoid when buying a new home.

Mobile homes

Unless you’re looking to purchase and relocate a mobile home to your own private land, moving into a mobile home could be a total waste of money for you. You might as well live in your car. Mobile homes depreciate in value just like a car and you will never really enjoy home ownership if you’re paying out space rent fees for the lot of land you’re occupying in someone else’s park (in addition to property taxes). Another exception to the mobile home rule is if you are planning on living in a retirement community that is all prefabricated homes (these are more stationary than true mobile homes) or again, if you own a lot of land and want to construct housing that can be removed at a later date. Other than that, you are better off renting. At least if something goes wrong in the home, it’s more likely that someone will fix it. There are some very nice mobile homes on the market, but choose wisely if you go this route and have a plan for the future of your mobile home.

Blighted neighborhoods

Areas where there’s a lot of gang graffiti are not a good investment. There was an American television show that broadcast in the late 1970s about a couple who decided to sell their home in an upscale neighborhood and buy a run down home in the gang infested area where the father grew up. It was about the kids assimilating themselves with their culture. This was a fabrication and even the public wouldn’t buy it because the show only ran one season. People want to move out of neighborhoods that are crime ridden and gang infested because they fear for their safety. Stay away from blighted areas.

Unsightly Menaces

This can be anything from the air raid siren sitting in the back yard to a water tower in the back yard. Also stay away from homes backing up to electrical wiring. These homes might
be cheap, but there’s a reason why they’re cheap. That’s because no one wants to live in them. Stay away from homes that have unsightly menaces or, are themselves, an unsightly menace. If the home is covered with different colored stones that would be impossible to remove, or has two different color brick or something else that is permanent and makes it look unsightly, you are better off to stay away from such a house because it will be tough to unload.

Toxic mold and structural defects

When you’re buying a home, get a Home Inspection. If the inspection reveals that the home is sitting on a cracked foundation or has toxic mold, pass it up. Unless you are prepared to tear down the structure and rebuild, leave this to someone else. Toxic mold can make you and your entire family very sick. It is not worth living in a house that is overrun by toxic mold even if it’s free. A house that has severe structural defects will end up costing you a lot more money than it’s worth. Make sure that the house is structurally sound and that you can afford anything that is seriously wrong with the property.

No land

There are some homes that have no backyard and a large front yard or virtually no yard at all. They usually sit awkwardly on a corner lot and were built before the property values increased and the municipality had a chance to make some rules about how much ground each house should have. If all the homes in the area have backyards and the one you are considering does not have a backyard, you should consider a different home. Even if you have no children or pets, you should think about resale value.

Flood plain

Do yourself a favor and stay away from houses that are in a flood plain, especially those with a recorded history of actual flood destruction. You need special insurance for these houses and unless you’re a duck, you probably won’t like the idea of having water in your house every time it rains. Some areas that are in a flood plain may hardly ever flood and have to be listed as such because of the geographic location. Do your own research about the area’s flooding to determine its flood potentiality for the future based on the facts of the past history of flooding before making your choice. Houses located in a flood plain may also have toxic mold as mold needs moisture to grow.

Houses on a busy street

Unless your life is a parade, you may want to stay away from houses that are located smack dab on busy streets. These do not sell as well as those located on quiet streets and generally are priced below the market. If you want to make a good investment, choose a home that is on a quiet, residential street.

Try to look for a home in a nice, quiet neighborhood that does not fall into the categories above, unless it’s one of those unbeatable exceptions. Outweigh your pros and cons. Take the time to think things over before committing to the very first option you come across. Remember to look for resale value when you are buying your home, as it cannot be stressed enough. Even if you are planning on staying in your home forever, you should realize that times and circumstances do oftentimes change and that you might, at one time, have to sell. You do not want to be sitting on the property for a long time because it is not up to par with the other houses in the area.

Until next time…
Take care of yourself, and those around you!

TX Veteran,
REALTOR ROB

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