Accounting for things that are just out of your sightline benefits everyone.
Last week, I suffered a fender bender when another driver and I backed into one another in the parking lot at Village Market. (Those groceries got a whole lot more expensive.) Upon hearing the fateful CRUNCH, we both jumped out to view the extent of the damage. (It wasn’t as bad as it could have been, but it wasn’t insignificant either.)
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The personal stories of one realtor’s battles and triumphs in the highly-competitive Bay Area real estate market, seeking to illuminate and humanize the very real ups-and-downs of homeownership.
“It’s a brand new car,” the other driver wailed, clearly flustered. “I’ve only had it a few weeks, and I was distracted by my kids . . . I’m so sorry.” (Truth be told, we were both to blame. Those “blind spots” are real.)
“It’s alright,” I said. “Is everyone okay?”
“Yes, we’re all fine,” he said, taking a deep breath, and a much needed beat.
“That’s what’s important,” I said, cars can be fixed.” (People are much tougher.)
While the body work has proven to be more expensive than I would have guessed, it’s important to acknowledge that aside from some unsightly dents and scratches, there was no permanent damage to our vehicles. In other words, it helps to remember that as long as issues are “fixable,” it’s not worth getting too worked up over. (Believe me, there are far bigger battles to fight.)
At the risk of sounding like a Realtor® (and a person with some age under my belt), this is true with respect to our homes as well. Which isn’t to say that there won’t be unwelcome surprises from time to time that throw us for a loop (count on it). Indeed, homes (like cars) require ongoing maintenance which often gets overlooked or ignored because, frankly, it’s expensive to properly maintain a house. In fact, it’s far easier (and cheaper) to turn a blind eye . . . . Unfortunately, that’s the response many Homeowners take. (That’s a mistake.)
Which is why, when we consider homes in general, it’s worth understanding the costs to own, (“PITI” – aka: principal, interest, taxes & insurance), the current condition of the property, the price of improvements, the annual budget to maintain the house and grounds, and potentially, any hurdles to selling it down the road.
Does the house have a septic system and corresponding leach field that’s liable to need replacement or repair? Are there sump pumps on the property? How old is the roof? In what condition is the foundation? Has the drainage been addressed? Where does the property sit and how does that affects its value? (Just to name a few.) Whatever the circumstances, it’s important to recognize the “blind spots” that may have been overlooked, adapted, or conveniently forgotten.
Here are some other “red flags” for your consideration:
Old knob & tube wiring, galvanized pipes, wood-shake roofs, outdated kitchen and bathrooms, single-pane windows, threadbare carpeting, and scratched floors can all be replaced and updated as time and money allow, but stairs to the front door, a difficult location, or a nontraditional floor plan is ever thus. These are inherent characteristics of the house that you need to feel comfortable with as they’re not going away. In other words, buy what fits your needs, but don’t turn a blind eye.
“Well, we don’t consider the stairs to the front door a problem,” more than one Seller has said. “We never needed a gym.” (Wink, wink.)
Good for you, but I guarantee a frazzled parent with a pouting toddler, a stroller, and a car full of groceries isn’t going to share your sunny opinion.
Listen, if you love a view, your trade-off is likely to be vertical living. Desire walkability to shops and restaurants? That requires an urban setting. Enjoy the security of a “planned community?” That often comes with a strict HOA. (You get the picture.) Our homes are full of contradictions, and that’s fine as long as we remain honest about them.
Understand that your “pluses” might be perceived as “negatives” come time to sell. So face the hard truths, adjust as necessary, correct when possible, and keep your home in good working order. Barring that, disclose, disclose, DISCLOSE(!) because nobody cares to be blindsided. That’s where the real misperceptions lie.
How can we help you?
Julie Gardner & Sarah Abel | Compass Realty
Not just Realtors, but consultants in all things house and home, we’re here to educate, explore, examine and refer . . . In short, you may count on us to take care of your home as if it were our own and anyone who knows us, knows we take pretty darn good care of our homes.
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