Is Going to an Open House of Value?
Is going to an Open House of value? The National Association of Realtors found that nine percent of home buyers found the home that they purchased from a yard sign or an open house sign. On the other hand, 33 percent purchased via a real estate agent and 44 percent found their home through the Internet. It is worth considering that although these homeowners found their home through the Internet and real estate agent, it does not exclude the fact that they may still have attended an open house in the process of the home buying experience.
These statistics beg the questions, “As a potential home buyer, is it worth attending an open house? What are some things you should look for?”
What is an open house?
An open house is a period of time that sellers open their home so that potential buyers can come in and take a look with no appointment necessary. It is a perfect opportunity to show off the house to as many home buyers as possible. Is going to an Open House of value?
Benefits of Attending an Open House
Open houses are usually more laid back than if you need to make an important with the seller’s real estate agent. An open house has no time constraints or restrictive schedule, allowing you to browse and analyze a home in detail.
Even if you’ve seen pictures of the home online, open houses are a great way to browse the neighborhood as well. By viewing the house in person, you can also see the environment and community that the home is located in. You’ll also be able to see your potential neighbors and possibly even talk to them to get a better idea of what you’re buying.
If you are looking for a home but aren’t sure what style you prefer, going to open houses can give you an idea of what is available. It can give you a chance to see what you like and dislike in a home as well as confirm whether the house matches the pictures you’ve seen. By walking through the home, you may also be able to take note of the layout and design to consider any changes you would like to make.
What to Look for When Attending an Open House
Look for Quality and Maintenance
If a homeowner has neglected proper maintenance and upkeep, you’ll likely be paying the bill after the sold sign goes up. While a home inspector will do a physical check of the home, if you see shoddy workmanship, such as poor tiling, damaged roofing, and leaky faucets, you may have issues down the line.
Mold and Water Damage
One huge red flag that is not likely shown in photos are signs of mold or water damage. By attending an open house, you’ll be able to detect a pungent scent that probably means there may be water damage somewhere as well as water lines on the ceiling or walls.
Chance to Talk to a Real Estate Agent
Although the agent on duty works for the seller and has his or her interests in mind, you can still use the opportunity to ask some questions. Look beyond the listing data and inquire about the home’s sale history and any previous renovation work.