Doing Drive-Bys
 Most home buyers appreciate the advantage given to them when working with Buyer's Agents to do "drive-bys" which means what it says, driving by the home to see its location, neighborhood setting, and overall characteristics. Unlike traditional real estate agents, who feel the pressure to show and "sell" a particular home listing, Buyer's Agents want their clients to see as many homes from the outside as possible so that they don't waste time on homes that are not of interest to them. Most Buyer Agents will also preview properties for buyers who are unable for one reason or another. Check with your Buyer's Agent to find out when and how this might apply.
During the drive-by preview process, there are many decisions to be made. These decisions are personal in nature but very critical to the home buying process. You may come to realize that your criteria change because of aesthetic reasons or financial considerations. You may be willing to make some compromises to reach specific goals. This process will enable you to create your "short list" of homes that have enough appeal to warrant an appointment to see the inside.
Your drive-by list of considerations should include:
- location
- defect management
- neighborhood
- lifestyle
- grading
- vehicles
- site
- planning
- frame
- maintenance
- safety
- energy conservation
Your Drive-by List of Considerations
Location
Location is a personal choice. Consider urban / suburban / rural lifestyles.
What is the proximity to schools, shops, work, transportation, etc.?
What is the quality of the schools?
What utilities and municipal services are present at the property under consideration?
What is the tax rate and assessment of the property under consideration?
How do adjacent communities compare?
Does this community appear to be a good value to you as far as taxes are concerned?
How do property values compare to adjacent communities?
What compromises must be made from your ideal location?
Defect Management
All houses result from compromises. The overall quality of a house is the result of compromises in location, planning , site, material, workmanship, and maintenance. It is important to identify the defects and unfavorable conditions prior to purchase. In the way, the defects can be prioritized and managed.
You can expect the Home Inspector to disclose defects that are not observed when the house is shown. We suggest that they be considered in three categories:
- Unacceptable
- Can be corrected while living in the house
- Acceptable
The first category should consist of those defects that are unacceptable to you. You may wish to negotiate an adjustment in the purchase price to enable correction prior to or soon after occupancy. An example of this type of defect may be one that compromises the safety of the occupant, like unsafe wiring.
The second category may include items that you can prioritize and correct while you are living in the house, like substandard insulation in the attic.
The third category may include those defects that you choose to accept, like a steep driveway. It is unlikely that even your dream house will be completely free of defects, even after you have lived in it for many years.
Neighborhood
All neighborhoods cycle. What phase of the cycle is this area in?
Is the neighborhood residential only?
What is the impact of nonresidential use?
Are the traffic and environment conditions satisfactory to you?
What is the condition of other houses in the neighborhood?
If unsatisfactory conditions are observed, you may want to consider other areas as you have no control over the property of others.
Are houses in the neighborhoods larger or smaller that the subject?
Remember that is is better to buy a smaller house in an area of larger houses that an over improved property.
Lifestyles
Consider driving by the houses that are on the top of your priority list at different times of the day.
What lifestyles are in evidence? Are they compatible with your lifestyle?
Grading
What is the slope of the site?
Grading should be such that water flows away from the building on all sides. Water that stands near the foundation wall usually results in a wet or damp basement and other chronic conditions.
Vehicle Considerations
How wide is the driveway?
Will cars have to be moved to allow others to leave?
Is there safe access from the driveway onto the street?
What is the condition of the driveway?
What is the slope of the driveway?
Is garage important to you?
Is there a garage or space for a garage?
The Site
How is the house situated on the site?
What is the proximity to adjacent units?
Is there adequate space and privacy?
Planning
How is the house planned?
Is the siding at least 6" above the grade? Is the wood in contact with the ground?
Are the lower edges of the basement windows above grade?
Are bushes and shrubs at least 18" away from the building?
Is the space under porches and decks vented?
Are trees overhanging the building?
How is the site landscaped?
Are sidewalks present? What material are they made of? What is their condition?
Are tripping hazards present?
The Frame
Standing away from the house and looking at the lines of the building, are the lines straight true or are the walls out of plumb and/or roof lines sagging?
Maintenance
Is there evidence of good maintenance?
What is the apparent condition of the roofing and siding?
What type of foundation is present? What is its apparent condition?
What is the apparent condition of the chimney?
Safety
What about the exits? Are there stairs, handrails, guardrails?
Are handrails and guardrails detailed to be safe for children?
Does every exit have a light?
Energy Conservation
Is there evidence of energy conservation?
Are storm or combination windows and doors present at each door and window?
Summary
Looking at the home with a critical eye during your drive-bys will save time as you eliminate some properties that do not meet your criteria because of negative conditions. However, if negative conditions are observed, these should not automatically be interpreted to indicate that a house should not be considered.
Negative conditions must be evaluated and weighed against positive features. As a practical matter, you should be prepared to accept conditions that are less that ideal. Defect identification, negotiation, and corrective actions are generally part of the successful purchase.
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Wednesday, September 08, 2010
