In the mid-sixties to the early seventies, there was a TV show called "Green Acres." The premise was a big city lawyer and his wife decide to buy a country farm and house, sight unseen, and move there to start a quieter life. Funny though it was, it did teach a lot of valuable lessons about buying homes for sale. Here are just a few of those lessons.
NEVER Buy Sight Unseen
You should never buy a house "sight unseen." This a bad idea from the get-go. There could be hundreds of thousands of dollars in repairs and renovations needed, and you would not know, until you have bought the property. The protagonist in the TV show realizes this after he and his wife have abandoned their Manhattan apartment and moved into the broken-down shack on their new farm.
Know Exactly Who You Are Buying From
The previous proprietor of the property in the TV show was a slick salesman who always had a "bargain" for the couple. He intentionally failed to mention a lot of things in the advertisement of the property, in order to sell it. He also planned to sell the couple a lot of the things that had already been part of the farm but appeared on the back of the sales truck he drove around. Thankfully, if you buy from a reputable real estate agent, you will not get swindled like the TV show couple did. Always know exactly who you are buying a house from.
If You Buy a "Fixer-Upper," Realize What That Means
The protagonist from the TV show wanted to buy a "fixer-upper" home. While that is well and good, you should know exactly what that means. It can mean simple things like patching a roof and replacing the HVAC system, or it could mean that over half of the house is missing exterior walls (e.g., like on the show). If the repairs and renovation work are much more costly than you planned, you are essentially stuck, until someone else comes along who is willing to invest in the property and finish the work. Otherwise, expect to put as much money into the house and land as needed, to make the space livable and usable.
Additionally, if you live in a house you are renovating, you will have to make several accommodations, as you work. You may be without a bathroom for some time and have to resort to other toileting solutions. You could also be without working phone or electricity, similar to the characters on "Green Acres." Anything is possible, but if you are prepared for it, you can live through it just fine.
For more information, talk to companies like Ron Dayley Realtor Coldwell Banker CM&H.
