Interesting quote from William James, who is considered by many to be the “Father of American Psychology”. I am sure you are wondering what this has to do with real estate…
Well give me a moment to explain how that home you just fell in love with might have some factors that you better NOT overlook!
I am sure you have thought about the obvious stuff like location, the number of bedrooms & bathrooms and the condition. But here are a few things that you may not have thought about:
Internet and Cable
Many home buyers find out AFTER they have gone under contract that the home of their dreams is located in an area that does not enjoy high speed internet access or a decent option for cable. Thankfully, you can overcome both of these. However, there can be a trade-off either in price, features or the quality of service (especially for internet).
This can be a big problem in some of the rural areas of Upstate South Carolina. Of course, for cable, you can use a service such as DISH. But for internet, it can be quite frustrating finding high speed service that is reliable AND doesn’t cost too much.
But Not a Drop to Drink
Water is another thing that some people don’t think about. If the home has a well, you need to consider how much water it puts out. And how old is the well? Is it a dug well or a bored well? How old is the pump and other equipment? Has the water been tested and is safe for human consumption?
I can tell you it isn’t fun to have your well pump go out. My well got to the point that it was cheaper to have a tap installed and run water line to my house. But what if there isn’t public water available? Something to consider since a new well is NOT cheap!
Whether the home has a well or public water, you need to think about the water quality. If the water is “hard”, you can install a water softener. If you do need to install a water softener, then you need to factor in this additional cost.
Can You Hear Me Now?
We may have become spoiled by technology since poor cell phone reception is a huge annoyance for most of us. Always pull out your cell phone and see how many bars there are. Check it inside and out to make sure that you get good reception.
I have to admit that I like older homes. They have so much charm and character. The downside is they can also have lead based paint or asbestos. Which is why I suggest that you get your dream home thoroughly inspected for any health risks such as lead paint or asbestos insulation.
But you need to remember that it isn’t just older homes that can have environmental concerns. New homes can also have problems such as mold or VOCs (volatile organic compounds). VOCs can lead to sick building syndrome. Plus I have seen some terrible stories about people buying homes that were used as meth labs. Those chemicals are extremely toxic.
Again, inspecting for this type of problem should be something a buyer pays for as part of their due diligence.
The Take Away
Like William James said:
Wisdom is Learning What to Overlook
When it comes to buying a home, there are some things you should NOT overlook!
These are just a few factors to consider that you might not have thought about.
Maybe you can overlook some of these.
Maybe you will need to hire several different inspectors.
But it is always better to safe than sorry!