What is in Homes

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What is in Homes
The better condition your home’s systems are in, the more money it is worth.

What is in Homes

What is in homes besides love and family are heating, ventilation, air conditioning, plumbing, electrical, roofing, flooring, furniture, home decor, lighting, appliances, cabinets, decks, patios, landscaping, and more.

There are major systems in most every home that are critical to comfort, and enjoyable living.  These systems are also critical to resale value, and their quality and condition will help dictate how quickly a home can be sold.

During a home inspection, the condition of these systems will either allow a potential buyer to proceed with the purchase, or will put a halt to it either permanently or until the needed repairs are addressed or until monetary consideration for the needed repairs has been provided by the home seller.

These major systems in a home are HVAC, electrical, plumbing, roof, and foundation. I will describe these various systems.

I will explain what they do, and why they are so important to have in good working order when you go to sell.

I will also tell you where you can purchase a home that already has a home inspection done on it so that you know going in what the condition of the home is.

In addition, I will tell you why these homes are some of the best deals anywhere, and how to buy them.

The Main Systems of a Home

If your home’s main systems are not in good working order with plenty of life left, this will be revealed when your prospective buyer has a home inspection performed on your home.

You will then face the situation of having to either lower the price you are asking, fix or upgrade the systems to the satisfaction of the buyer, or risk losing the buyer altogether.

These are the main systems of a home. The order is not important as all of these systems are important to the home.

What is in Homes
A crack in a home’s foundation can be a serious matter.

Foundation  Although not technically a system, it is a very important aspect of a home. The foundation is the structure that your home sits on.

The foundation supports the weight of the home and provides stability, and strength to allow the home to stand no matter what the elements can throw at it.

Most foundations are made of reinforced cement.  The foundation will pass inspection when there are few, if any cracks in the walls, no bowing of the walls, and if the basement is dry.

What you don’t want to see is horizontal cracks in the walls of the foundation.  Vertical cracks are not good, but these normally won’t affect the integrity of the structure, and can usually be repaired.

Horizontal cracks, on the other hand, do affect the integrity of the structure, and if they are severe enough, cannot be repaired.

If you are in the market for a home, and if you see horizontal cracks in the walls of the basement, scratch it off your list.

HVAC  HVAC stands for heating, ventilation, and air conditioning.  This includes your ductwork, and vents,  as well as your heating and air conditioning.

Your furnace that provides heat for your home will be checked carefully.  If it is gas fueled, the gas lines and the unit itself will be scrutinized, as well as the duct work and the vents.

If it is electric, it will be checked in conjunction with your electrical system. Ideally, you want to see a newer furnace unit.

The air conditioning unit will also be checked in conjunction with the electrical system since it is fueled by electricity.  It’s cooling performance and capacity will be revealed from thorough testing.

Here, the newer, the more powerful, and the more energy efficient the a/c unit, the better.

What is in Homes
Your roof should have at least 2 years of expected life left to pass inspection.

Roof  The roof is one of the easier systems to inspect.  And, for the prospective home buyer, it is also easy to see the condition, in most cases from a simple eyeball test.

You want to look for wear and tear. Older roofing tiles will have a smoother surface,  and if you see the edges of the roof tiles curling up, you can be sure that house needs a new roof.

So if your roof has a flat, consistent surface with no curling of the edges you should be able to get at least 2 more years of life from it, and it will likely get the seal of approval from the inspector.

Plumbing  The plumbing system runs throughout your entire home.  This includes the main water line leading into your home,  pressurized pipes, pressure regulators, water heaters, shut off valves, bath, shower, and kitchen faucets, toilets, and your drains.

This also includes exterior hose bibbs, and sprinkler systems.  Your indoor plumbing system provides many conveniences that just a few generations ago would have been unthinkable.

Such innovations as water on demand, and indoor toilets have created a healthier, more sanitary, and more comfortable indoor environment, and thus, a higher standard of living.

The home inspector will check to make sure that there are no leaks in the plumbing system both for pressurized pipes, as well as for drainage pipes.

He will do this by turning on all valves, and faucets. In addition he will flush all toilets, and verify that the operation is in good working order.  He will also note any significant aging of the plumbing system, even if it is still in working order.

Inspecting the condition and operation of the water heater is also performed.

Electrical System  Another vital aspect of the home is the electrical system.  This relatively complex part of the home is in virtually every room of the house.

What is in Homes
A home’s electrical system is checked thoroughly and meticulously by the home inspector.

Electric, in addition to powering lighting, is also the power source for appliances, air conditioning, heating, water, garage door, and other devices in the home.

The home inspector goes over this system very carefully, and meticulously.  He checks to make sure all wires, circuits, breakers, outlets, and breaker boxes are up to code, and in good, safe operating condition.

Issues with the electrical system can lead to very serious problems with the home, and the safety of it’s occupants, such as by house fires.

Repairing and replacing or upgrading any of these home systems can be quite an expensive, and time consuming proposition. If they are not in good working order, they can present a roadblock to a real estate sale.

No prospective buyer will be satisfied with a home that they have to spend additional large sums of money on to bring it up to an acceptable living standard.

It is highly recommended that the home be brought up to snuff before it is placed on the market for sale.  This will usually result in a higher selling price, and a quicker close.

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HUD Homes are Inspected Before Offered for Sale

As a Realtor, the only homes I have ever seen offered for sale that had a home inspection performed, and the results of the inspection made available to the buying public are HUD homes.

HUD stands for Housing and Urban Development, which is a United States Government department.  HUD does a thorough inspection of every home they have for sale through their network of home inspectors across the country.

HUD is affiliated with FHA. FHA is the lending branch. HUD handles the home selling duties.  When a home owner with an FHA loan defaults, it is foreclosed on, and turned over to HUD for resale.

Once HUD does it’s inspection of a home, it is given either an ‘insured’ or ‘uninsured’ designation.  Insured means that the home will qualify for an FHA loan, subject to an FHA appraisal.

The ‘uninsured’ label means that the home will not qualify for an FHA loan.  This is an indication that the home needs significant work done to it in order for it to become livable.

What is in Homes
HUD foreclosures have an inspection done that can be viewed by prospective bidders.

If the HUD home is termed ‘insured’ and qualifies for an FHA loan, a low 3 1/2% loan is available from FHA, and the buyer can also get 3% of the purchase price of the home put toward closing costs.

At certain times HUD offers a $100 down payment program, which lowers the buyer’s out of pocket expenses dramatically, especially when coupled with the closing cost assistance.

For a listing of available HUD foreclosures in your area, go to: https://hudhomestore.com

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What is in Homes – Review

What is in homes besides love and family are heating, ventilation, air conditioning, plumbing, electrical, roofing, flooring, furniture, home decor, lighting, appliances, cabinets, decks, patios, landscaping, and more.

If your home’s main systems are not in good working order with plenty of life left, this will be revealed when your prospective buyer has a home inspection performed on your home.

The main systems of the home are: Foundation, Plumbing, Electrical, Roof, and HVAC.

As a Realtor, the only homes I have ever seen offered for sale that had a home inspection performed, and the results of the inspection made available to the buying public are HUD homes.

If the HUD home is termed ‘insured’ and qualifies for an FHA loan, a low 3 1/2% loan is available from FHA, and the buyer can also get 3% of the purchase price of the home put toward closing costs.

At certain times HUD also offers a $100 down payment program. For a listing of available HUD foreclosures in your area, go to: https://hudhomestore.com

Feel free to leave your questions, and comments below. Please also feel free to share on your favorite social media by using the buttons below.

Thank you for reading, What is in Homes.  Good luck, Tom

 

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6 thoughts on “What is in Homes”

  1. Hi, Tom,

    I loved your opening line. It’s totally true.
    I remember when I was looking for a home a few years ago. I saw lots of properties. I came across one that was approved by the inspector, but there was an issue with the foundation. Actually, it seems it was repaired. But after doing some research and asking for opinions, I decided not to buy it. I heard that foundations are one of those things that can be very costly if not repaired properly.
    I also found one that had some problems with the bank. I forgot the term the realtor used, but it was a no no. It was a pity because I loved that home. A couple of years later it got flooded. Well, all the homes in the neighborhood got flooded during Harvey.
    It’s very important to check everything when buying a home. It’s not something to be taken lightly.
    Thanks for bringing this up and reminding us of its importance. I look forward to reading your next post.

  2. It’s very important having all these different parts of the house in working order before you sell! Sometimes it’s a bit traumatic finding that they aren’t in working order after you buy the house. Termites are a bit issue in Australia and we have found a few parts of the house been affected by them! This is a great article and definitely something new house owners as well as those looking to buy should investigate. Thanks Tom 🙂

    1. Hi Will, thanks for your comments. Yes, that is why you want to have the offer contingent on the inspection, so if you uncover some defects, you have recourse. All the best, Tom

  3. My husband and I have always been interested in figuring out how to buy a home in a foreclosure. We’ve also had many questions and expected the process to be hard.

    This article not only goes into what a foreclosure sale is but also how to thoroughly do one’s due diligence with checking all the home systems before considering a purchase.

    Now I’m curious to read even more of your posts as I can clearly see you are someone with vast experience in the real estate industry. Much appreciated!

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