It all adds up

Finding the true cost of a home

Two houses are for sale on the same street. One is priced at $200,000, the other at $230,000. Assuming no negotiating or financing differences, the $200,000 house is obviously less expensive, right? That may be true to get the keys, but after that, the answer isn’t so clear.

Here are a few items buyers should consider when judging the cost of home:

• Does it have a pool or hot tub that requires maintenance?
• How much yard maintenance is required?
• Are there trees that should be removed?
• What are the utility costs?
• How soon will the roof need to be replaced?
• Does the house need repainting?
• Is the electrical system able to handle the load the buyer will be using or are upgrades necessary?
• Does the home have aluminum wiring or lead-based paint?
• Does the house need new carpeting or flooring?
• What remodeling projects does the buyer see as a must?
• What items convey?
• Will appliances need replacing?

For a handout that advises buyers on these points, visit the Marketing Materials area of the My TAR section on TexasRealtors.com.

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Buyers & sellers, visit www.texasrealestate.com.
REALTORS®, visit www.texasrealtors.com.