A wish list can be written, or just a simple mental focus. It should be flexible (subject to change and compromise), but it's your basis to recognize the right home when you see it, enabling you to act quickly in a competitive market.
| Developing Your Home Buyer Wish List |
A wish list can be written, or just a simple mental focus. It should be flexible (subject to change and compromise), but it's your basis to recognize the right home when you see it, enabling you to act quickly in a competitive market. |
| Factors to Consider |
 You've heard that the single most important factor in choosing a home and projecting its potential for increase in value is location, location, location! This is true because location is the one thing about a property you can never change. Location goes beyond the obvious. Proximity to shopping and transportation, commute time to your job, the ambience of the surrounding neighborhood are fairly obvious location factors. But broader location parameters such as a home's proximity to major employment centers, its political jurisdiction and source of municipal services, reputation of its schools, the existence of Mello Roos taxes, the impact of city transfer taxes one day when your home is sold, etc., are also factors to consider. Design Number of bedrooms and baths, need for a formal dining room, whether or not a home has a fireplace or a pool are basic wish list items. Floor plan flow is another basic that should not be overlooked. Room proportions for your lifestyle and for resale should be considered. Note: Be careful if you're moving to Los Angeles from a locale that has cold winters and muggy summers. Here in LA, our wonderful climate fosters informality and outside living most of the year. Cabin fever does not exist in LA! You'll want to opt for less square footage and interior space in favor of outside living areas. If you have inordinately large furniture pieces (grand piano, king-size waterbed, grandmother's buffet), be sure to let me know. Jot down the dimensions and bring them when we're looking at homes. Condition Be prepared to look past messy housekeeping and bizarre decorating schemes to see a home's basics. This is an important skill that can make you money. Practice recognizing the difference between mere cosmetics and potentially expensive repair needs. As we look at homes, I'll point out conditions I consider to be of concern and try to help you put into perspective things which may be easily corrected and/or normal and customary for the area or age of home. Note: Any offer we write will be subject to your having a professional physical inspection of the property performed so an expert can provide the ultimate guidance in assessing the property's condition. If a home needs work, the scope and potential costs of the work should be weighed very carefully. Remember that work you do after close of escrow must be paid with cash out of pocket, while work already performed by a seller and reflected in a higher price will be "financed" into your loan for a few dollars a month over many years. Removing old shag carpet, refinishing hardwood floors and stripping foil wallpaper are items that can be done inexpensively to add market appeal value. System updating in an older home can involve higher costs, and until done, can influence the availability and cost of homeowners insurance, too. Often it's to a home buyer's advantage to compromise on size of house in favor of location, design and condition. |
| Wish List Items Check List |
|
|