Yes, photos are cool, videos are impressive, and 3D virtual tours are interactive. But, to see a property up close is definitely another thing for every potential purchaser. In fact, that’s almost always necessary before snatching a property you’re eyeing off the market.
It allows you to zoom in on the details and features of the property that you barely can see from your device’s screen. I mean, wouldn’t it be nice if you could witness for yourself how spacious the living room is? It’s also cool to feel how comfy the beds in the bedrooms are or how sunny it could get during the day. Such details matter but the only way to verify those is through inspecting the property in person.
Thus, it pays to go and see the property yourself where you can even ask questions to the listing agent before putting in that all important offer. You know how it goes with online shopping sometimes, you wouldn’t want to get trapped in another case of “expectation vs reality”, would you? Or at least, you’ll get to find out the whatnots to improve and the details you need to take note of. After all, it could be your biggest financial decision we’re talking about, so the last thing you want is to screw at the end.
One way to get rid of that is jumping in the car and heading out to a fun Saturday Morning of Open Homes. Similar to almost all movies, an Open Home gives you a quick trailer of what life could be like in that specific property. It’s an opportunity to get a closer look at the features and amenities of the property before you decide if it’s the right fit for you and your goals. You have the power to pause, stop, or play until your ‘happily ever after’ becomes a reality.
Open Homes are a little different from private inspections mainly because they are public events that different interested people can check out. But the primary goal of examining all the odds and ends both inside and outside of the property is pretty similar.
So, if you’re a first-home buyer with zero knowledge about this (or even if you’re an experienced purchaser), we got you, buddy! We’ve got heaps of tips and tricks covering things that you should do (and should not) that will help you make the most out of your Open Home experience.
Sounds exciting? Ready, get set, tour!!!
Checklist
As a first-time buyer, you should keep in mind that Open homes don’t last for a whole day. They usually take an hour or even less at times, so if you are serious about it, it sometimes pays to list down all the things that you are after in a property and then start checking and double-checking when you hit the property for the Open Home.
Space
Ensure you’ve got enough space for yourself and your family. Not only to cater for everyone but also to make it freely customisable based on your liking. Make sure that the furniture you’re trying to envision in your mind fits the space and you still can move effortlessly regardless.
Built-ins
Storage is one of the priorities that you shouldn’t forget to look into. Check if the kitchen has ample cabinets and storage space and if the bedrooms have built-in wardrobes. Make sure that the property’s features align with your needs unless you’re willing to pay extra bills to renovate and add storage spaces.
Windows
Check the lighting. Which direction do they face? Take a look at the views from them. Would you be happy to see those on a daily basis? Consider these points when inspecting a property because this adds up to the total mood and vibe of the property (which could be your next possible home, by the way).
Appliances
Don’t forget to examine the appliances if there are any to be offered. Are they in good condition? Do they function as they are supposed to? Trying them out yourself with assistance and permission from the agent could be helpful and smart.
Electrical outlets
Verify the number of outlets in the entire property and examine if they are conveniently and strategically placed. You’ll be needing these in all parts of the home, so make sure everything is working and should be available in the first place. While you’re at it, double-check the light switches, too. Try turning them on and off to avoid conflicts in the future. We bet you wouldn’t want to live in the dark…
Frequently-Asked Questions
When attending Open Homes, some buyers aren’t aware of the ins and outs of the event, especially the first-timers who aren’t used to norms of purchasing a property. Below are some of the Frequently-Asked Questions with answers that you might find helpful in your Open Home journey.
What to bring during an Open Home?
Taking note of the details of the property is essential when doing inspections. Hence, if you are detail-oriented, it pays to bring along a notepad and a pen to mark some of your favourite features down; or things that catch your eye about a property.
But if you’re more of a visual person, you can just bring a camera or phone, both to take note of the specifics and to capture important photos upon the seller and/or agent’s approval. You might also want to prepare a list of questions that you have in mind just to make sure you won’t be forgetting even the littlest details.
Can I record or take pictures of the property?
Whilst recording your visits to various properties with photos and videos can be a great way to remember them, it’s important to respect the seller’s privacy. Always get consent before taking any pictures or films, and stay away from capturing private or delicate information.
Do I need to be aware of any issues with the property?
It’s crucial to enquire about any known defects with the property from the seller or real estate agent since they may affect its value and your choice to submit an offer. Ask about things like structural problems, water damage, and any recent renovations or repairs.
What should my offer be?
Making the best offer on a property can be a bit challenging, so it’s crucial to consider various aspects, including the property’s condition, the current market circumstances, and your own financial situation. Always do your homework and conduct thorough research that could help you in determining a fair and objective offer. You may also consult a real estate expert before making a decision.
Do I have to make an offer instantly?
Speaking of making an offer, do you need to decide right away? Honestly, this is on a case-to-case basis. But most of the time, no. You can submit an offer at any time, but if you’re interested in the property, you should make a move sooner than later. Remember that there might be other interested purchasers as well, and the seller might decide to accept an offer prior to yours.
What are the next steps after the Open Home?
If you’re fascinated by the property, the next step is to get in touch with the real estate agent and express your interest. They will be able to provide you with more details and direct you through the process of submitting an offer, securing financing, and finalising the transaction. As other buyers may be interested in the property as well, it is crucial to move quickly and be prepared to negotiate.
Red Flags
When searching for your first possible home (or investment), you want nothing but the best attainable one. And during your property search, it’s possible that you’ll fall in love with a property that initially checks all your boxes but eventually makes you lose interest after closer inspection.
But, fret no more. If anything, you should thank yourself for not falling into the trap, which just proves how essential Open Homes are. On that note, here are some red flags that you should watch out for in every property you visit for inspection.
Indications of poor service and maintenance
If you find anything that suggests the property hasn’t been well-maintained, such as peeling paint, water stains, or wall cracks, this could be a red flag. Even though these concerns might not be deal-breakers, they might be symptoms of more serious difficulties that would be more expensive to resolve.
Unfinished renovations or repairs
If the property has just undergone renovations or repairs, make sure to verify that the work was done to a high standard. Incomplete or poor workmanship may be a sign that there are more serious issues with the property.
Odd smells or sounds
If you experience strange smells or sounds during the Open House, this may indicate that there are problems with the property. A musty odour, for instance, might be a symptom of mould, and a hammering sound could be a warning of plumbing or electrical issues.
Unjustly priced properties
Before attending Open Homes, do your homework and have an insight into the local market. A red flag indicating the seller is unwilling to negotiate or that the property is overvalued is if you find that a home is excessively expensive in comparison to similar houses in the neighbourhood.
Strange seller actions
If the vendor is evasive or unable to respond to your enquiries, this may indicate that they are concealing something or that the property has hidden problems. A similar warning sign that the seller is trying to sell the home quickly for a reason is if they are being unduly aggressive or demanding.
Whilst it is a wise move to observe and be aware of these red flags during property inspections, you should also keep in mind that even if you spot one or two of them, it’s not game over yet. ‘Flawlessly perfect property’ is a myth that has never existed, to begin with. Hence, our sound advice for you is to consult an expert and conduct an independent building inspection to determine the best course of action. In case you want a 4one4-approved recommendation, Tasmania Building Inspections is your way to go! You can reach out to them whenever you need a professional set of eyeballs to look into the property you like.
Conclusion
We’re probably used to shopping online now that technology permits us to do so, but one thing that makes us hesitant to buy virtually is the uncertainty behind those marketing photos and videos we see. Similar to purchasing a property, it is essential to personally see and inspect any purchases you’re planning. And that’s basically how Open Homes work.
But it also pays to take note that Open Home is just part of the whole buying process. In fact, it’s just the beginning of the buyer’s journey. Hence, you need to spend some time researching your options, conversing with real estate specialists, and assessing your financial terms and current situation. These points could lead you to the property that best fits you and your life goals.
You may reach out to our passionate line of real estate agents at 4one4 Property Co. that can help you figure out your real estate needs and will assist you until you finally move into your first home. We also host weekly Open Homes for property inspections and home recommendations. If you’re interested, you may check this week’s schedule here.
