By: Deanna Rowser

This month, I want to address some items you should consider when attending an open house. I am going to share a few tips that might help you at best, negotiate a better price, and at worst, save you from a money pit. So let us take the next step on this journey to successful homeownership… OPEN HOUSE. 

As you click through countless, online photos that have been beautifully staged for the sole purpose of getting you dreaming about your new future in their old house, your real estate agent has been busy also; scouring the listings, based on your criteria, to narrow the assortment of potential homes from which to choose. 

Now off to the “Open House”. It is exciting to think that any day now, you can walk into a house, and “Eureka!” you have found “the one”. Provided the homeowners’ agents “did it right” you will have spent several days schlepping in and out of some beautifully staged homes. Contain your excitement. Remember, these spaces were designed with the sole purpose of influencing you to imagine YOUR life in their house. 

Think about going to an OPEN HOUSE like going to a used-car dealership. Be calm, cool, and collected. Listen more than you speak. PAY ATTENTION. Do not let the salesperson lure you into thinking you want something that you don’t or convince you that something is worth more to you than it is, lest the result is you paying more than you should. 

While at the OPEN HOUSE take notes; take pictures if allowed; and take measurements … lots of measurements! (There are apps for that) Particularly of the kitchen and the bathrooms. These rooms will be your most expensive undertakings, should you need/choose to renovate them, however, they will also provide the greatest return on Investment. Taking these rough measurements might afford you an opportunity to obtain preliminary materials estimates for making the updates. Those numbers might be the deciding factors on which house is the right house for you. Old houses mean old wiring, new boxes maybe, but old wiring, and equally old plumbing. Not that I discourage the purchase of old houses, to the contrary, I love old houses. It is a rarity to find new builds with any genuine personality. It is simply to say, be aware. In my opinion, words like “cozy”, “vintage”, and “charming” often equate to considerable renovation dollars. Do not bite off more than you can chew. COMPLETE HOME RENOVATIONS ARE RARELY IF EVER DONE IN ONE 30-MINUTE OR HOUR WINDOW.

My apologies, got off on a little tangent there… After the OPEN HOUSE … Now, you are back in your apartment, swiping through the dozens of pictures you took while out on your quest to find the perfect house. Ahhh, the living room and master bedroom are so spacious, but what are those weird spots in your picture? Is the phone screen dirty? No, it is fine, however, your hi-def photo enhanced the highlights and lowlights that could be the sign of a quick and/or shotty paint job. Hmmm, what else? Didn’t notice that similar weird shading, but on a larger scale, on the ceiling? Could it be that there was a recent paint job to cover up WATER DAMAGE? Are the floors relatively level? Paying attention to small imperfections could be a roadmap to issues of what you want no part of. Scrutinize this purchase like your life depended on it because it does! Your financial life anyway. Remember first homebuyer, this may be your first step to building wealth. Be patient, be diligent, and choose wisely.

Good luck with getting your piece of the American pie!

Next month, which renovations to complete first.