Top 3 Things People Overlook When House Hunting

Purchasing a home is one of the biggest decisions you’ll ever make. We spend a lot of time lining up the right loan, finding the right neighborhood, and choosing the right real estate agent. What often gets lost in the house hunting process are those smaller details that can end up costing you as a landlord to upgrade after you've already signed on the dotted.

Here are the Top 3 Things People Overlook When House Hunting:

Recessed Lighting

When touring a home, look up. Are there recessed lights in the ceiling? For older homes, these weren’t standard. You may wish they were, however, after you can't land any renters because the home is too dark. Upgrading to recessed lighting certainly won’t go unnoticed when it costs you around $200 to install, per light.

Double Pane Windows

Does the home have double pane windows? Old, out of date windows lack energy efficiency. That means you or your renters will be paying more in utility costs to heat the house in winter, and cool it in summer. Those utility costs can be a financial strain; and so can updating all of a home’s windows. The cost of updating to double pane windows is around $400 each – even more if you need to re-side your home in the process. A home where those updates have already been made might be more practical for you.

Utility Costs

It’s important to factor in utility costs no matter if you're paying them, or your renters are. Ask for old utility bills from the seller. This will give you a sense of just how green and energy efficient your potential new home really is. Neither you or your renters are going to want to foot excessive utilities each month.

Checking a few basics things before you make that offer will help you avoid some major costs and inconveniences on your income property that you initially thought was perfect.