A home inspection is a tedious process that requires much work finding the right inspector and performing the actual inspection process properly.

What’s the main purpose of a home inspection other than the obvious reason of disclosing defects in the home? After adding up all the costs between repairs, rehab, and improvements, you can now make an educated conclusion as to whether or not the home is selling for the proper price.

Here are five tips when hiring an inspector and performing an inspection:

1.  Hire a qualified inspector with good referrals.

You found the “best deal” on a home; don’t use the same technique when hiring an inspector! Find someone reliable, diligent and trustworthy.  Get it done right the first time; it will cost you a lot more in the long run if you need to hire a second opinion.

2.   Make sure to note everything you want your inspector to check—don’t always assume they will be as thorough as you’d like them.

Even the best in the business may overlook certain aspects. Your realtor should have a checklist of what they look for in homes that you can combine with your own list to review with the inspector before they examine the home. Create a punch-list—remember the inspector is working for YOU and it is your responsibility to communicate what you expect while they inspect!

3.  After receiving the detailed inspection report, make note of the larger costs that may need specialized re-inspection such as the roof, electrical, and so on.

A roof may be good at the time of purchase but may need to be repaired in the next 3-5 years—it is good to find out those costs in advance. Think life expectancy and work backwards to determine a timeline of when you will have to come out of pocket for repairs.

4.  Even if the property has a lot of repairs, do not get discouraged.

Even the most beautiful properties can have underlying technical issues, but this doesn’t mean that they cannot be resolved. When working with the right realtor, they can help negotiate deducting repairs whether it be obtaining a credit from the Seller or having the Seller repair them.  Anything is negotiable when it makes sense for both parties—and when you use the right realtor. On the bright side, a home with a number of repairs means once everything is fixed and completed, there shouldn’t be any issues in the near future.

5.  Take EVERYTHING into consideration.

An inspection shouldn’t solely be about finding defects and identifying what needs to be remedied, but rather how to fully transform your house into a home. If there is no pool, get a quote on one.  Not loving the countertops? Price that out too.  Make a wish list and price it all out so that you are fully aware of all costs both needed and unneeded.

Over the past 10 weeks after purchasing my own home, I’ve been counting down 10 Damn Good Reasons why I recently bought a house – and why you should, too.

So far, they have been:
#10 – Prices are HOT – prices are going up, so get on it!
#9 – It’s a WAR out there – the market is murder, so prepare for battle.
#8 – Fiscal Fitness – Get in shape for the game.
#7 – Location – Your dream location is within reach.
#6 – It’s Cheaper to Buy than Rent
#5 – Low Inventory – Get ’em while they’re hot!
#4 – A Good Investment – It made sense.
#3 – A Realistic Offer – I Couldn’t Refuse
#2 – Time to Grow Up

And now, drum roll please… The best Damn Good Reason you can ever have to do something, is simply, “Because I could.”

It may not sound like much of a reason at first, but think about this – I said because I could, not because I wanted to. Not because I woke up one day and felt like owning a house, but because I had the mental and monetary wherewithal to actually do this.

There’s a lot more to homeownership than having a mortgage every month and having a sweet place to throw a party. There are responsibilities you’ve never had to deal with if you’ve always rented, such as paying for each and every utility, fixing things when they break, the list goes on.  And if you’re not DIY’ing it, or paying a handyman, you’re paying a homeowner’s association to handle these things for you. It can be an emotionally and fiscally draining and is not for the faint of heart.

Now that I’ve scared the crap out of you, let me tell you why homeownership was the right decision for me. Like any relationship, it is a commitment and takes work, but when you find the love of your life, you know it’s all worth it. Homeownership is a life-altering, game-changing experience. It’s a long-term relationship that can be very fruitful in the end. I was prepared to take that next step, and I hope you are too.  The timing of the market conditions were (and still are) phenomenal, but who knows how much longer they will hold out.

One of the most rewarding parts of my business is helping people find their true love – the one home out there that will make their hearts (and wallets) happy. Let’s go on the journey together, it’s always good having someone who knows what you will experience helping you along the way.
If I can assist with any of your buying or selling needs, please contact me at Sam@DeBianchiRealEstate.com or call 954.651.5768. You can also follow me on twitter at @SamDeBianchi.

Over the past weeks, I’ve been counting down 10 Damn Good Reasons why I recently bought a house – and why you should, too.

So far, they have been:
#10 – Prices are HOT – prices are going up, so get on it!
#9 – It’s a WAR out there – the market is murder, so prepare for battle.
#8 – Fiscal Fitness – Get in shape for the game.
#7 – Location – Your dream location is within reach.
#6 – It’s Cheaper to Buy than Rent
#5 – Low Inventory – Get ’em while they’re hot!
#4 – A Good Investment – It made sense.
#3 – A Realistic Offer – I Couldn’t Refuse

We are down to just two more Damn Good Reasons to buy a home! This week is all about growing up. What do I mean by this? Well, aside from maybe getting married or having a child, nothing makes you feel more like an adult than having a mortgage payment every month.

While this may sound daunting if you’ve always rented, it’s a very positive step. And you don’t have to be in your twenties as a homebuyer, or on your first home. Each time you make the switch from renting to buying, you “grow up” – sometimes a little, sometimes a lot.

With homeownership comes three important benefits:

• Stability – Growing up means it’s time your tumblin’ tumbleweed days of moving every year or two in to new rented space, like a college student, are over. It’s time to put down a taproot and start to really grow. Owning equals more responsibility, but it also means you can decorate any way you want, paint the walls any color you wish, or even knock them down.
• Investment in a Community – Yes, homeownership means paying property taxes, but it also means helping to fund important services in your city and community that make it a better place to live. When you own in a community, you are more likely to care about the community, like getting involved in local organizations, voting and all of the things grown-ups who care, do.
• Investment in Yourself – Congratulations, one of the best parts of homeownership,  if you bought within the last year or so, you have a solid investment on your hands and prices are going nowhere but up. When it comes time to sell, you are all but guaranteed to make money.

Ready to “grow up?” If I can assist with any of your buying or selling needs, please contact me at Sam@DeBianchiRealEstate.com or call 954.651.5768. You can also follow me on twitter at @SamDeBianchi.

Over the past weeks, I’ve been counting down 10 Damn Good Reasons why I recently bought a house – and why you should, too.

So far, they have been:
#10 – Prices are HOT – prices are going up, so get on it!
#9 – It’s a WAR out there – the market is murder, so prepare for battle.
#8 – Fiscal Fitness – Get in shape for the game.
#7 – Location – Your dream location is within reach.
#6 – It’s Cheaper to Buy than Rent
#5 – Low Inventory – Get ’em while they’re hot!
#4 – A Good Investment – It made sense.

This week’s Damn Good Reason to buy is all about being realistic. When you are ready to begin the buying process, you are forced to face a lot of hard realities. How much can you realistically spend on a down payment? How much can you realistically spend on a monthly mortgage payment including taxes, insurances and utilities (which you may not currently be paying if you are renting)?

When the home I bought went on sale, I had already come to terms with those realities. I knew what I could handle and what I wanted. All that was left was the perfect home and a …wait for it… REALISTIC… seller who is ready to get in the game and signals they are serious by setting a realistic price. Being in the real estate business myself, and very familiar with the area where I bought, I knew that the home was listed at a sensible price. When you buy, it is crucial that you have a Realtor who has a good grasp on pricing in your area, and is skilled at pulling information on comparable homes, to know what sale prices look like in the area.

Just like I would (and do) for any of my clients, when the dream home that met my criteria popped on to the market, I was ready to jump on the purchase and immediately made an offer. Why was this possible? It happened because I had already faced the many realities of my purchase scenario and mentally prepared. This allowed me to purchase quickly, actually putting an offer in sight unseen to beat out other potential buyers.

Remember: it’s called REAL Estate, not Fantasy Estate – if you are truly ready to buy or sell, be ready to get REAL!

If I can assist with any of your buying or selling needs, please contact me at Sam@DeBianchiRealEstate.com or call 954.651.5768. You can also follow me on twitter at @SamDeBianchi.

Over the past weeks, I’ve been counting down 10 Damn Good Reasons why I recently bought a house – and why you should, too.

So far, they have been:
#10 – Prices are HOT – prices are going up, so get on it!
#9 – It’s a WAR out there – the market is murder, so prepare for battle.
#8 – Fiscal Fitness – Get in shape for the game.
#7 – Location – Your dream location is within reach.
#6 – It’s Cheaper to Buy than Rent
#5 – Low Inventory – Get ’em while they’re hot!

Reason number four on the Damn Good Reason countdown is – the house I bought was a good investment. You may be thinking, “Well, duh, Sam, of course buying a home is a good investment.”

We are hard-wired and programmed from the time we are children to think that buying a home is a good investment. It’s the American Dream. Well, I’m here to tell you as a Realtor with a responsibility to anyone I work with or give advice to – buying is NOT always a good investment – you can’t always assume that it is. You might need some help determining what is a good investment, and what isn’t.

Many people bought homes in 2006, 2007, even early 2008, at the height of the market, only to have the value drop out from under them, leaving them with huge, un-payable mortgages. These were not good investments. If anything, these were toxic assets often ending in foreclosures that severely hurt credit ratings for seven years.

Toxic is the perfect word here because not only the buyers of these bad deals are hurt, but also anyone and everyone around these kinds of deals get “sick,” from neighbors of vacant homes, to streets and neighborhoods plagued by foreclosure, to whole cities and an entire economy. (If you had a foreclosure, all is not lost – check out my blog about getting back in the game after a foreclosure.)

In the current market, prices have corrected to a sustainable level, and they are going up, so there are many more deals to be had. But even at reduced prices that are much more affordable for people in a position to buy, there are still plenty of chances to buy the wrong house, or at least the wrong house for you. The right Realtor can help you navigate this tricky market and explain why something may or may not be a good investment.

Two quick tests to know if you have a good investment:
1. If you had to move in two months, could you rent the house and (at least) break even on your mortgage?
2. If you had to sell in a year, could you break even or (preferably) profit?

If you can answer yes to the first question, it’s a good investment. If you can answer yes to the second question, it’s a great investment. I used these criteria when buying my home and advise all of my clients to do the same. Of course, there are many other considerations depending on each individual situation, but if you can pass this preliminary test, it’s a good way to know if you should move forward, or hit the brakes on a possibly toxic transaction.

If I can assist with any of your buying or selling needs, please contact me at Sam@DeBianchiRealEstate.com or call 954.651.5768. You can also follow me on twitter at @SamDeBianchi.