Why Attend Open Houses: Tips for the Home Buyer
An ‘open house’ refers to a property that is for sale and scheduled to be open for viewing by potential buyers. In general, open houses are held on weekends, mostly on Sundays, and advertised with banners. During this time, the property is spruced up and kept in its best condition in order to attract potential buyers. Some open houses also feature tours, cocktails, hors d’oeuvres, and giveaways.
Open houses are mostly held to advertise a newly developed neighborhood or community. Attending an open house is highly beneficial for home buyers. While a first-time home buyer may come across several appealing and cheap houses on the market, attending an open house gives a clear picture of the shortcomings, if any, of an otherwise attractive dwelling.
It is quite common for home buyers to get carried away by the mere appearance or the low cost of a house. However, buyers should not be blind to problems that can make the house unsuitable for purchase. It’s especially important to attend open houses for bank-owned houses that are for sale in as-is conditions.
If you’re a home buyer getting ready to tour an REO home or other property for sale, here are some tips to help you decide whether a property is worth investing in:
Going Beyond Appearance: It’s true that you should consider the aesthetics of a house when making a purchase. However, it’s also important to look beyond aesthetics and pay attention to structural aspects and other functional elements.
1.Assessing Problem Areas: When attending an open house, the home buyer should look at all potential problem areas. This may include the following:
I.Flooring: The floors of the house should be even and smooth. Squeaky or uneven floors with soft springy sections could mean expensive repairs.
II.Furnishing: Home buyers who plan to use their existing furniture in the new house should take extra care to ensure that their furniture can be accommodated in the new space. Don’t be afraid to take a measuring tape with you to an open house.
III.Plumbing and Drainage: Water leaks can harm a house in a number of ways. Therefore, home buyers should check the walls and ceilings carefully for bulges or stains that may indicate water leakage. It’s also good to walk around the yard and look for possible leaks in the drainage system.
IV.Fixtures and Appliances: When attending an open house, home buyers should check the toilets, faucets, air conditioning, furnaces, appliances, and electrical fixtures.. This can help determine if any repairs or replacements may be needed.
V.Structural Aspects: Home buyers should look for cracks in the foundation or on the walls of the house. They should also check if the house has to be repainted and whether the doors and windows operate smoothly or need to be replaced.
2.Consider a Home Inspection: While open houses allow home buyers to assess potential problem areas, it is always a good idea to bring in a certified house inspector to get a detailed report before buying any property. Home inspectors are experts who can identify problems that an average home buyer may not.
Home buyers can also bring along cameras to photograph specific features of the house that interest them.
Attending open houses has now become a pastime for many. However, the true reason for attending an open house and the benefits that it offers to home buyers should not be forgotten.
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