A year ago now my husband and I bought a foreclosed home. It was our dream property, we had fixed up a few homes before so we were ready to dig into this project. While I would never wish we had done this, I do wish that I was more prepared for what we have encountered. Here are the 5 top things that we learned about a foreclosed home.
1. Be ready for a home that has delayed maintenance– The former owner was doing all he could to keep his home and was not able to keep up on all the maintenance projects that needed to be done. For instance, apart from refinishing the basement and repainting the interiors, the former owner was also about to opt for HVAC repair perhaps with the help of professionals who could provide quick Furnace and AC Repair. Honestly, it is alright–it is understandable that there was so much on his plate that it took him some time to finish everything.
2. Get a thorough inspection– While we knew that there were issues, many of them were much worse than we expected. We bought it as is and have had quite a few projects go much different than expected. At first, we thought that only the air conditioner had problems, but that was not it. Even the furnace was acting up, which led us to consider contacting inspection and repair personnel who could do the work quickly. That is when we were suggested by those in the know to look for Mac-Vik Plumbing & Heating Affordable Heating Services–they are known to offer repair services related to a furnace in Denver and nearby locations.
3. See if there is a possibility of getting a home warranty. We had the oven go out right after we closed and some major issues with the furnace. So, as you can imagine, this wasn’t ideal, and we needed to get the issues resolved as soon as possible. We decided to look at something like this review of furnace repair in Memphis, to see if we could find a similar company here that could help us with it. Thankfully, we were able to. Issues like these only increase the need to obtain a home warranty. It is very inexpensive and can save you lots of money in the long run.
4. Look back at the before pictures occasionally. It helps to see how far you have come in making it the home of your dreams. Always looking at the to do list that keeps getting longer can feel overwhelming.
5. Enjoy it– It can be easy to get overwhelmed in the projects to make it so that you don’t enjoy your home. Take some time to just sit back, smell the roses and dream a little bit. You will find that you will be happier and more content to slowly nip away at the projects at hand.
While purchasing a foreclosure can be overwhelming at times, it is also a fun and exciting adventure. You get to put your mark on the place you call home and there is nothing more than the pride you feel looking at making your dream come true. It is also a pretty good investment with a pretty good return.
Published on: Mar 18, 2014