Real Stories
Buyer’s Homework Pays off on Purchase
A month into looking for a new home, Moises found one in his hometown of Pompton Plains and put an offer in on it. He learned quickly that the offer is just the beginning of the buying process.
The house had everything on Moises’ wish list, including a basement, driveway, big backyard and a colonial layout. It wasn’t a new house, though, and Moises knew when he first saw it that it would require some renovation. What he didn’t know was what the inspection would reveal – a problem with the septic system.
“I knew regular home inspections were routine, but my REALTOR®, Lucille, advised me to get a septic inspection as well,” Moises said. “It turns out that the septic inspection was what saved me from buying a house with unforeseen issues.”
Because the septic system had to be fixed, the closing was postponed for two months. There was a lot of waiting on Moises’ part, but he was patient, knowing the contract was good and that he would close on the house eventually.
“Lucille acted as the intermediary between the seller and I while they fixed the problem,” he said. “She also made sure that my mortgage would stay at the interest rate it was initially supposed to.”
After the septic issue was resolved, Moises closed on his new home and was able to get started planning renovations. He plans to update the kitchen and bathroom as well as other areas of the home.
“After my divorce, I moved into a rental apartment and all I wanted was a house of my own, with a basement and big yard. I plan to finish my basement, re-side the house, and build a shed in the backyard.”
Moises also plans to take advantage of his enclosed front porch – his favorite part of the house.
He looks at the renovations he plans to make as smart investments.
“I know that I will get all the money I put into it back when I decide to sell this house,” Moises said. Through the house-hunting process, I learned that renovations will add value to a home and that I can recuperate the money I spend in the long run.”