Buying a House As-Is: What to Consider
Buying a house is a significant moment in everyone's life. You may find the process difficult because it takes some time to get used to it, say goodbye to your old home, move, and settle. But, don't worry, once it is all set and done, you can start enjoying all the positives that buying a new house brings to your life. One of the ways to buy a home that's becoming increasingly popular nowadays is to buy it as-is. The most notable benefit of purchasing the property this way is affordability. However, if you opt for this, there are some things you need to consider if you want to avoid having regrets down the line. We at Ojai Real Estate prepared a guide on buying a house as-is, so let's get into it.
Buying a house as-is: what does it mean?
If you have heard of this term, but aren't sure what it is exactly, here's an explanation. When the seller decides to list their house for sale as-is, it means they aren't willing to do any repairs to sell the house in perfect condition. Instead of preparing it for buyers, they leave it as is and list it at a lower price. Many possible motives lead to that decision. Sometimes sellers don't have enough time to do repairs or need money sooner rather than later. Unfortunately, many of them are also trying to sell a damaged property.
Don't buy the house as-is before doing a home inspection
Although houses listed as-is have to meet some standards, you should do a home inspection nevertheless. Even when the house meets those minimum livability standards, the question is whether it will suit you or not. On top of that, you could encounter some of the problems sellers are trying to hide. You can inspect the home yourself, but maybe hiring a professional home inspector would be the best solution considering the whole situation. Either way, thoroughly checking the property is a must to ensure you aren't making a big mistake.
Hiring a real estate agent
If you don't want to manage the buying process yourself, hiring a real estate agent is the way to go. This especially goes for people who are moving long distances and buying remotely. But, even if you're nearby, having an expert by your side is highly beneficial as they will quickly and efficiently deal with the things you have no experience with. Additionally, they can provide a handful of advice to help you get the best deal. It would be good to get yourself a home warranty when you're buying as-is, which is another area where reliable agents can assist you. So, after taking everything into account, it's safe to assume that you won't regret hiring a real estate agent.
Preparing the budget
Good budgeting is essential when buying a house. You can't just dive into the purchase without being adequately prepared. One thing that will benefit your budget when buying a house in its current condition is the lower price. However, don't forget about the other moving expenses. For example, it's best to have at least 10-15% of the budget available for repairs in your new home. Furthermore, when you begin the moving process, there will be other expenses like hiring movers, renting storage, utility cancelation fees, etc.
Although some of these expenses, especially those related to moving companies, can be avoided by simply not asking for their help, think twice before deciding. If you can do it on your own, go for it. However, if you have a lot of things to transfer, you may need some help. Experts at bestlongdistancemovers.com can confirm that relocations are much safer and more manageable when you have proven movers by your side. If you want everything to go smoothly from the beginning to the end, you'll have to keep in mind every significant expense that might come your way.
Essential guidelines for buying a house as-is
By now, you have probably noticed many things to consider when buying a house in its current condition. So, to sum the whole story up, we'll once again mention the essentials to look out for during this process:
If you have any more dilemmas, ask your real estate agent some questions, we're sure they'll be happy to help you out and set things straight.
Packing tips for a long distance move
Finally, we wanted to help you by sharing some packing tips before you move. Packing is one of the most complex parts of relocation, so approaching it carefully and learning some packing tips for your long-distance move is essential. If you want to start the new chapter of your life on a high note, you'll have to keep your items secure during the relocation. We recommend plastic containers instead of regular carton boxes for the most valuable and fragile items. Remember to keep heavier things at the bottom of the boxes/containers. This will keep them in balance which helps you avoid breaking or damaging some of your belongings. Get enough packing tape and air bubble foil for extra protection, and you'll be ready to move into your new home.
Buying a house as-is at a bargain price could be one of the best decisions you'll ever make. But, due to its nature, you need to consider the things mentioned in this article before making a purchase. It's better to be safe than sorry. So, conduct thorough research and ask for some help where needed. If everything seems acceptable, take advantage of the price and go for it. Good luck!