After months of tirelessly looking for a home, you finally found a house you’re excited about. It’s towards the top of your budget, but it looks perfect and checks all the boxes. You’re ready to make an offer!<\/p>\n
Next steps:<\/strong> Making an offer, opening escrow, and performing inspections.<\/p>\n Most homes have two prices:<\/strong><\/p>\n 1. The list price Wouldn’t it be helpful to know what some of the potential deferred maintenance might be and how much it will cost before<\/em><\/strong> you made an offer?<\/p>\n That’s what a good agent is for. <\/em><\/strong><\/p>\n The last thing you want is an agent who’s a cheerleader and tells you what you want to hear. You need someone who\u2019ll give you an honest opinion and point out some of the things you don\u2019t see: The hidden costs<\/strong><\/em> that can turn a home into a money pit.<\/p>\n So, while you\u2019re admiring the kitchen cabinets and picking out bedrooms, I\u2019m looking for the potential issues that could cost you thousands later.<\/p>\n (Disclaimer: This is not meant to replace having the home inspected by a professional. These are some of the red flags I notice having gone through countless inspections.)<\/i><\/span><\/p>\n Lifespan:<\/strong> 20\u201325 years Lifespan:<\/strong> 20\u201325 years Lifespan:<\/strong> 25\u201330 years I look for cracks, water stains, and mismatched paint. Mismatched paint tells me they may have had a leak. This can indicate the roof is failing. (See #3)<\/p>\n We basically have 3 types of windows in the Conejo Valley – old single pane aluminum, old dual pane aluminum, and newer dual pane vinyl. Yes some are wood too, but that\u2019s less common. Many homes are transitioning to the nice new dual pane vinyl windows and after you see a few homes with them, you\u2019ll quickly notice how tired the old aluminum style makes a house look. Plus many of the old windows get cloudy inside and the new ones are much more energy efficient, but upgrading is expensive. Lifespan:<\/strong> 8\u201312 years This is a tougher to estimate because a lot of pool equipment looks older than it is especially if it gets a lot of direct sunlight. And if something breaks, it\u2019s usually just one of many parts, not the whole thing. However, I can get a general idea of the condition and if it looks trashed or not.<\/p>\n Displacement upstairs is fairly common. It\u2019s the downstairs displacement that can be a red flag. Most of our homes are built on a slab. If I feel elevation changes or a crack under the carpet, that can be a serious problem. Couple that with other cracks and it\u2019s a good idea to run out the front door.<\/p>\n Hairline cracks around doors or windows are normal. That\u2019s usually just minor settling or poor drywall installation. It\u2019s when you can fit a quarter in the crack that you may have a more serious problem. Jagged cracks are usually more serious than cracks along a seam too. Cracks in patios, driveways, and garage floors are much more common and often nothing to worry about.<\/p>\n Combine all these visual clues together and you can get a pretty good sense as to how the home has been maintained. If I notice that all the systems of the house are run down and not maintained, that\u2019s a pretty good indicator that there will be lots of other issues that come up in the inspection.<\/p>\n It\u2019s not unusual for me to talk a buyer out of a home.<\/p>\n If you\u2019re at the top of your budget and haven\u2019t factored in $50,000 of deferred maintenance, you\u2019ll likely realize it after spending thousands on inspections and missing out on other homes. I\u2019m here to help you understand the whole picture before you make an offer.<\/p>\n That doesn\u2019t necessarily mean you should walk away from a house that needs some work. Sometimes those hidden costs are worth taking on if you love the bones. And there’s a decent chance the seller will make some of the repairs or offer a credit. I\u2019ll help you figure that out too.<\/p>\n When you\u2019re ready to find a home you\u2019ll love, knowing exactly what you\u2019re signing up for, I\u2019m here to guide you through it.<\/p>\n
\n2. The list price plus deferred maintenance<\/p>\nHere are 10 hidden costs to watch out for when buying a home.<\/strong><\/h3>\n
\n1. The Furnace<\/strong><\/h4>\n
\nI’ll check to see how old it is and whether it\u2019s been serviced. Most sellers don\u2019t service their furnace regularly, which shortens its life. If it\u2019s in the attic, we\u2019ll need the inspection report to know for sure.
\nReplacement cost:<\/strong> $8,000\u2013$10,000<\/p>\n2. The Condenser (A\/C)\u00a0<\/strong><\/h4>\n
\nIt\u2019s not uncommon to see an A\/C unit that looks ancient but still works. Sellers rarely replace them for you. Instead they provide you with a 1 year home warranty policy. You may get lucky and the A\/C may die during the policy period, or you may have to replace it on your own. A\/Cs prefer to stop working during the hottest week of the year when it’s been running all day. Try getting an A\/C company out quickly when everyone\u2019s A\/C is dying. You may go a week or more without air.
\nReplacement cost:<\/strong> $5,000\u2013$7,000<\/p>\n3. The Roof<\/strong><\/h4>\n
\nMany Conejo Valley homes are at the age where they\u2019ll need a roof replacement soon. I’ll take a look at the general condition of the roof then guestimate the age based on the year built. That will give me a ballpark as to how much time is left. Rarely will a seller pay to replace an entire roof, so if it\u2019s getting towards the end of its life, make sure you factor that into your budget.
\nReplacement cost:<\/strong> $20,000\u2013$35,000<\/p>\n4. The Ceiling<\/strong><\/h4>\n
5. The Windows<\/strong><\/h4>\n
\nReplacement cost:<\/strong> $20,000\u2013$30,000+<\/p>\n6. The Water Heater<\/strong><\/h4>\n
\nWater heaters usually fail without warning. And their preferred time of death is in the middle of the night or when you are on vacation. I can get a general sense of its age based on the overall condition and whether or not it\u2019s up to the latest code requirements.
\nReplacement cost:<\/strong> $1,500\u2013$2,500<\/p>\n7. Pool Equipment<\/strong><\/h4>\n
8. Floor Displacement<\/strong><\/h4>\n
9. Cracks<\/strong><\/h4>\n
10. Deferred Maintenance<\/strong><\/h4>\n
\nMy Job Is to Help You See the Full Picture<\/strong><\/h3>\n