Buying A Home – Do You Know The BONES Are More Important Than Decor?
As a Licensed Real Estate Salesperson, in the State of New York, for over a decade, I have often wondered, why so many potential home buyers, making for what most of them, is their single largest financial purchase (and will be their largest financial asset), become overly enticed by minor things, related to decor, etc, rather than to items, which they should prioritize! Often, what is lacking, is the ability to visualize, what could be, rather than being fooled by some, misleading characteristic, etc! Every house has, what, we in the industry, refer to as its bones, which refers to, and means, the quality of its potential, etc. With that in mind, this article will briefly examine and review, using the mnemonic approach, why a house’s BONES are far more important, and relevant, than some issues, related to its decor. One must remember, some items are easily addressed, while others should be considered, as deal – breakers!
1. Benefits; built (quality); basics: What about the way the house was built, provides superior quality (or not)? What benefits does this particular home provide, which a visionary buyer, should consider, as a benefit? Potential buyers should pay particular attention to the basics, including the overall condition of the house and property, and its potential!
2. Options; opportunities: What options exist, which someone might be able to assist the buyer, in customizing the house, to make the home, meet his essential needs, concerns and priorities? Become able to recognize which properties offer certain opportunities, which will make it the best choice for a particular individual’s needs!
3. Needs (what’s right and wrong): One should proceed, carefully, to consider and differentiate between, priorities, necessities, needs, and deal – breakers! Identify, what’s right, and wrong, and consider issues, such as whether revising it, to your specifications, is excessively costly, or worth the expenses!
4. Electrical; evaluate total costs (purchase price + cost of expected improvements, etc). Closely examine items, such as the electrical system, carefully and thoroughly. Look at the circuit breaker box, and have the system inspected thoroughly, professionally, and carefully. Ask your contractor to offer an estimate, in terms of what your desired improvements and alterations, should cost, and then add, at least 20%, to be on the safe side. Add the cost of purchasing to the renovation costs, and compare that, do other, competitive homes, which already are configured to your needs and expectations.
5. Strengths; systems; staging: Avoid being overly misled, or rely overly, on how staging, makes certain homes appears, etc. Know its strengths and weaknesses! Examine the main systems of the house, including heating. air conditioning, water (pressure sufficient?)!
Don’t let items such as color scheme, decor, staging, etc, sway your decisions. Base your decision, primarily on its BONES!