Myths About Owning a Home

Homeownership is one of the biggest events in anyone’s life. There are some myths out there that you need to worry about when it comes to homeownership.

Home inspectors will find every problem

A home inspection is very important to have when you are purchasing a home. A home inspector cannot examine every little nook and cranny of a home. Do your due diligence and walk through with the home inspector as they are inspecting the property. If you see something that gets your attention, point it out and ask questions.

Even if you already own your home, you can still have a home inspection done. A home inspector might find an issue that you have been living with thinking it was normal.

All home improvements add value

When you think of home improvements, you think of boosting the value of your home. This is not always the case, not every dollar you spend will affect the value of your home. If you spend thousands of dollars on fixing a leaking roof, then this is simply repairing your home. This can also be true with adding something you love but buyers might look at as an imperfection.

You have to do your own yard work and repairs

When you are a homeowner you do have an additional set of responsibilities but this does not mean that you have to tackle them all on your own. If you do not want to have to hire a lawn service, then you might want to consider purchasing a condo that has common space kept up by the association.

You’re always/never better off renting

Owning vs. renting has been a time traditional argument and there is no right or wrong answer. The correct way to go depends on each person’s circumstances. It is true that owning a home is a win in the long-run but this might not be the case if you purchase a home and have to sell it in the next five years.

New homes are maintenance-free

This is not the case because a home is a complicated structure and system. There are many mechanical facetts, structural details and surface details that can need repair no matter if they are old or new. Also, every home needs maintenance, if you do not take care of it, then it will not function properly. Sometimes new homes are built to spec and have a basement or bathroom 80% done but still needs to be completed. This is a time either a great DIYer tackles or you hire someone to complete.

Remodeling is easy and fast

Remodeling a home can be a huge project even if it is just a one room. Reality TV shows have painted a picture that is not true when it comes to remodels. The norm is the budget always needs to have a big cushion and jobs take longer than you plan. On tv a renovation takes 48 hrs but there are always hiccups and in reality it takes longer.

You’ll get to it eventually

If you buy a home with the intention of getting to a project or waiting to fix something that is not necessarily an emergency, more than likely it will not get done. Once you move in, life gets in the way and you keep putting those projects on the back burner. When you first move in, plan out a calendar of all the projects with a start date.

Remember if you are in the market or have a home, a Realtor can be a great source of knowledge and advice. A real estate agent can help you sort through the truths and the myths.

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