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2019-05-03 06:01:56
3 Reasons to Think Twice about Buying a Home in Salt Lake City

Home Buying Tips

There are at least 3 reasons to think twice about buying a home in Salt Lake City. By Salt Lake City I mean in the area of what is called the Salt Lake Metropolitan area.

That includes all of the cities in the county and then some. For my purposes I'm just writing about the area within the S.L. county boundaries. I don't like to work outside the area that I'm VERY knowledgeable about. 

Since there are over 2,000 houses listed for sale in the County

Having said that....However. This post is about something I know about....caution

I don't want to be a wet blanket here, but sometimes it pays to step back before plunging ahead with an important decision.  Think back to your first big crush. He or she was perfect, right?

But let me suggest that when emotions run rampant, flaws become invisible, whether you’re falling in love with a person or a home.

With familiarity comes the truth ― this perfect specimen of a human being isn’t perfect. None of us are. And houses aren’t either for that matter. The term “rose colored glasses” was invented to just this situation. Take them off and the reality of the situation is presented in all its Technicolor glory, warts and all.

Let’s take a look at some items you may miss if you’re in love with a house and that love is blinding you to its flaws.

1. Evidence of Shoddy Maintenance

Americans are busy people. When we aren’t working, we’re trying to pack as much as possible into our leisure hours. So it’s only natural that some home maintenance chores don’t get done.

Now, take off the glasses and realize that perhaps the homeowner is lazy or lacks the funds to maintain the home. If you notice debris overflowing in the gutters, duct tape and bubble gum plugging a leaking pipe or fur peeking out of an air-conditioning duct vent what else has the homeowner neglected?

It’s known as “deferred maintenance,” and here are a few things to look for:

  • Soft spots in the flooring around bath tubs and toilets
  • Stains on the ceiling, especially below a second-story bathroom
  • Signs of wear on the roof (missing or cupped shingles, for instance)
  • Cracks in plaster
  • Torn or bent window screens
  • Cracks in windows

This list is in no way extensive, but it gives you an idea of how even small tell-tale signs can give you a hint of how little home maintenance has been performed.

An experienced local agent will know about these little tells. Rely on that experience. But, be sure to work with someone that understands that that is the type input you are paying for.

2. Suspected Foundation Problems

Check the slope of the yard. If it slopes downward, toward the house there may be a problem with water intruding into the home or foundation when it rains. Reversing the grade is a costly project. But remember: the damage may already be done. Hire an engineer to check the foundation for problems.

Cracks in the foundation don’t necessarily signify problems. If they measure more than 1/3-inch or they are jagged, however, consider having the foundation inspected.

Foundation repair is one of the most costly home repair jobs and may run between nine and ten thousand dollars. The average cost, nationwide, is $3,740, according to HomeAdvisor.

At TGS Properties we recommend that a home inspection contingency is part of any offer to purchase. This may result in adding to the 3 reasons to think twice about buying a home in Salt Lake City.

That's good right?

3. A Dying Neighborhood

If your rose-colored glasses contain blinders you’ll need to remove them. The neighborhood in which the home is located is important to the home’s future value as well as to your enjoyment of the home.

If three or more homes on the street display for-sale signs, it might just be your first indication of a dying neighborhood. Sure, there are any number of reasons that several neighbors all decided to sell at the same time, but you must also consider that they are fleeing something.

What that “something might be” may be discovered with careful research. For instance, home values may decline as much as 16 percent and spend significantly longer on the market when registered sex offenders move into a neighborhood.

Once again a knowledgeable agent is a valuable partner here. However your agent needs to walk a fine line when dealing advice here as recent laws against 'steering' have made REALTORS reluctant to point out some neighborhood deficiencies.

While the above conditions need not rule out a house from your wish list, they do merit additional research. Don’t let your emotions blind you to what may turn out to be harsh realities.

It's obvious when I read this that picking the right agent can be extremely important.

I'd like to apply for that job. Check me out.

You can read what I think about a lot of real estate related issues by reading what I have written on my Salt Lake Blog.

Want to know more about me? Click on my Bio about Travis Straw. Then it is probably time to give me a call, Travis Straw 801-231-7949

Let's chat about more than 3 reasons to think twice about buying a home in Salt Lake City.

 
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