One of the biggest reasons that a family hesitates at buying a home in Raleigh when they are renting a home in Raleigh is because of the potential for unexpected expenses. Some of these expenses can be broken HVAC systems or needing to replace an appliance. These can be very pricey purchases and thus, many families think it would be safer to remain renting a home.
Our team at Raleigh Cary Realty has helped so many families in Raleigh overcome these fears. Our team has a few tips to mitigate the risk for any new homeowner.
4 things we suggest to our client to help mitigate their risk in costly repairs when they buy a home is:
- Buy New Construction or Newer Homes: New construction homes will have a warranty on the home for a certain number of months. For most homes, they include a full warranty until the end of the first year which includes nail pops, appliances, hardware, and more.
- Get an Inspection: If a family is not buying new construction, pick a great company to do a home inspection. Review that in detail and ask questions before closing on the home. And don’t be afraid to negotiate with the seller to help repair items found in the inspection that make you nervous.
- Check big ticket items: Many times the cost to maintain an older home is not any more than a newer home if recently updated with windows, newer HVAC system, water heater or roof. As these are really the high dollar items that are a concern on any home you purchase.
- Purchase a Warranty: There are plenty of warranties that can be purchased for a home. A great example is American Home Shield. Services like this allow a homeowner to claim on items that break in their homes and have the company fix them.
These are just a few tips that we share with our clients. But, the biggest thing we stress is that real estate is always a great investment. It’s a great decision to invest in a home instead of paying rent.
If you are ready to start searching for your next Raleigh home, contact us now.