You can learn a lot spending a Sunday afternoon touring homes, whether you’re ready to make an offer or just trying to get a feel for the market.
10 Things to Look for at an Open House — and 5 to Ignore
While you’re signing in, take note of how many other names are on the list. A popular open house could signal a lot of interest – and competition – for the property.
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At least for the immediate future, the neighbors typically come with the house. Take a walk around the block and chat with a few neighbors to learn what it’s like to live there.
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Most older homes have some cracks in the walls from settling, which may not be signs of a serious problem. If the cracks are horizontal, however, or if they’re more than an eighth of an inch wide, that could indicate a structural problem.
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It’s common for homeowners to refresh their kitchen by updating hardware and installing a backsplash or even a new counter. Consider whether this works for you or if you’d want a complete renovation, and factor that into your offer.
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In addition to making for disappointing showers, low water pressure could be a sign of corrosion, pipe buildup or other serious issues. Run the water from all the faucets to get an accurate picture.
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Having too little storage space is one of the top regrets cited by homebuyers after they’ve moved into a new home. Open the closets during the open house and consider whether there will be room for all your stuff.
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If you’re moving into an apartment building or a homeowners’ association, you’ll also be paying for access to community areas like a gym or pool. This is your opportunity to check out the facilities.
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Most of today’s buyers are looking for an open floor plan, but if you’re looking at older homes, you’re less likely to find one. Take a look at the current layout and consider whether it would be conducive to your lifestyle, or whether you’d be willing to renovate.
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Check the home’s systems, like the hot water heater or the HVAC. While you’ll get them professionally inspected if you make an offer, you can still eyeball whether they seem to be in good shape. Also keep an eye out for signs of moisture in the basement, which could signal mold or flood issues.
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Take a walk around to see whether the exterior appears in good condition, or whether there’s damaged siding or loose shingles. If those things are in disrepair, chances are there are other deferred maintenance issues as well.
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Many homeowners use professional stagers, whose sole job is to decorate the home to make buyers want to live there. Don’t fall for it. Instead, focus on the bones of the house and how it would look in your style.
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Depending on what type of home you’re touring you could be offered anything from warm chocolate chip cookies to a glass of champagne. While those are lovely touches, they shouldn’t sway your feelings about the home.
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Realtors are notorious for playing relaxing music and cooking sweets to put open house visitors at ease. Don’t be distracted.
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Ask the host before entering such a room. There may be a good reason to keep it shut, cordoning off an animal or concerns about germs. If you’re interested in the home, make an appointment for another viewing, and specify that you’d like to go into that room.
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While it’s fair game to open up cabinets and closets to size them up, there’s no reason to touch the items inside, and you should never open drawers in a piece of furniture owned by the seller.
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