Buying a home can be a fast-paced and overwhelming process, especially during the summer months when both the weather and the market heat up. Right now, with supply still lagging behind demand in the residential housing market, it’s easy for buyers to move too quickly. It’ s understandable, though: buyers don’t want to move too slowly and lose that dream home to another bidder. But such haste especially when making an offer, can cost you a lot of money and lead to headaches down the road. So slow down a bit and pay attention to these 6 things when making an offer for a house in Los Angeles.
1. Location and Neighborhood
Location is probably the most important consideration in making an offer for a house in Los Angeles. And, as many old real state pros say, the next two most important considerations are . . . location and location. But that also includes the neighborhood and the potential neighbors – those have to be a good fit for you.
Here’s what industry pros have to say about location: “If the home is not in the right community or subdivision, or in the wrong school district, you can rule it out before visiting. Make sure to drive around the neighborhood via different routes and times of the day. Look at neighbors’ homes, nearby buildings, and streets in search of things that would make living in your home less pleasant, including odors, traffic, and noise. Also, don’t ignore the neighbors. Do the neighbors take care of their yard? Is their porch or yard cluttered with junk?”
And keep in mind that your local real estate agent can be a huge help in assessing the neighborhood before you make an offer. To discover more, just call (866) 593 7012.
2. Square Footage and Layout/Floor Plan
You may love that big yard and the fireplace, but be sure to pay attention to the square footage and the floor plan when making an offer for a house in Los Angeles. If these don’t meet your needs, you may come to regret your purchase pretty quickly.
Contrary to what you see on TV, changing the floor plan – knocking out walls or adding rooms – is a big and expensive task. So make sure the size of the home, the number of rooms, and the layout really do suit you and your family.
3. Natural Light
This is an aspect that many buyers overlook when making an offer for a house in Los Angeles. Natural light is important, especially if you spend a lot of time in your home, so don’t neglect to pay attention to this.
Real estate pros recommend that you “schedule visits at the house during specific times of the day to see how much light it gets. If it’s not enough light, you might want to reconsider your choice, unless you’re willing to spend more cash on renovations and making changes to the current windows or lighting system.”
This one is overlooked even more often. But when you visit a potential house, you need to pay attention to the temperature – especially if it’s an older house. If, for example, it’s summer when you’re making an offer for a house in Los Angeles, is the house too warm? Or in winter, is it cold in the house?
“It’s essential,” the pros say, “to keep in mind that an old house could have appliances that are out of date, malfunctioning, or not working anymore at all. A defective heating system will not be able to warm you up enough during winter, or if you live in a colder area. In this case, if you end up purchasing the house, you’ll have to spend some additional money on replacements or [repairs]. And these aren’t cheap. . . . A dysfunctional heating unit could also ‘devour’ all of your cash on electricity bills, and that’s the least pleasant scenario after already spending money on a new house.”
And, of course, the same holds true for the air conditioning unit in warmer regions and/or during the summer. So before you make that offer, pay attention to the temperature in the house.
5. Signs of Water Damage
Another very important thing to pay attention to before making an offer for a house in Los Angeles would be any signs of water damage. This is a common problem and can be expensive to put right, especially if there is a resulting mold problem.
If you see any water stains on ceilings or walls, this should be a red flag. Very often, water leaks have been going on for a long time before homeowners address the problem. The result is damage that is far more extensive than you can see. There may even be structural damage.
In addition, mold, which often accompanies water damage, can pose a serious heal risk. And the process of mold abatement is typically lengthy and expensive.
6. Signs of Foundation Problems
You should also make absolutely sure there are no signs of foundation problems before making an offer for a house in Los Angeles. These can be extremely expensive to repair and usually lead to other problems.
Here’s what industry pros say you should look for: “Watch for cracks in any exposed concrete in the home (i.e. garage floor), floors that feel uneven when you walk across them, or doors that stick when opening and closing. Cracks in ceilings and walls may or may not matter. Foundation issues might create such cracks, but so can less serious causes (i.e. normal settling or even slamming doors).”
Your agent can help you look for signs of foundation problems and determine which ones matter.
So when making an offer for a house in Los Angeles, don’t hesitate to lean on your local agent’s expertise. Your agent can help determine, after considering what we’ve laid out here, how much you should offer or whether you should make an offer at all. Don’t make an enormously costly mistake. Find out today how our experienced agents can assist you. Call (866) 593 7012!