St. Louis Real Estate Market Buyer's Tips: Issues for Buyers to Consider

With a 25-year real estate career, I am honored my buyers look to me for expertise and advice during the buying process.  Although, it’s ultimately up to the buyer (s) to select the property they want to call home, most buyers say to me, “what would you do?  Would you buy this home? Will it be easy to resell?”  While I appreciate that my buyers have always valued my opinion and I certainly work hard to provide them the best advice ever, I offer them some general information to be used to evaluate each prospective property.

These twelve points are critical to consider prior to making an offer on a property:

1. LOCATION, LOCATION, LOCATION is the key to real estate: a.) There are always certain zip codes that rank higher than others and most are tied to property values in that area, appreciation in that area, upkeep of homes in that area and school district. b.) Location within the zip code:  is it well located within the zip code?  c.)  Is property near amenities, shopping, and other services?  d.) Will other buyers perceive this property in a prime location for resale?
2. Placement of home on the lot: Look around the area of the home.  Look at the properties/ buildings on both sides and behind the desired property, are they taller than subject building, do they block light?
3. Vacant lots nearby: I recommend that my clients desiring to buy a home with a vacant lot next to or near proceed with caution!  Vacant lots are the unknown.  Most of us don’t like the unknown as it comes with surprise!  No one can predict what might be built on that lot. It may block light or views. Typically subdivisions are well built and there aren’t so many vacant lots, but they do appear in odd places!
4. Condition of neighboring properties: Are any properties near the home in poor condition, with major deferred maintenance?  Your property value is based on your neighbor’s values and their values are based on their condition.  Also, be cognizant of the neighbors’ homes that you will have to look at daily. Do the neighboring properties have vehicles that don’t seem to move? Is junk piled in the back yard?
5. Condition of the exterior:  Has the exterior been kept up? Has the home been painted?  Is siding in good condition? What is the condition of the roof? How old is it?  Is there an HOA keeping up the maintenance, painting the building, garden, flowers?  Have any of the other units upgraded their units with things like replacement windows? 
6. Size and condition of master:  Buyers who are looking to buy base their decision on the master and kitchen. Is this master suitable, big enough for two people?  What are the sizes of the closets?  Does the master have a private master bath with double sinks?  Is there storage and space for two people’s items?
7. Layout of kitchen:  Typically if buyers want to remodel, it’s less costly to keep the same floor plan and just replace old cabinets with new cabinets and appliances in the same place. If buyers want to remodel and change the floor plan of the kitchen those costs and time are typically a greater expense.  Changing plumbing and electricity also add into the costs of changing the format of the kitchen or baths as well.
8. Growing family:  Is the size and layout of the home suitable for those that are growing a family?  Could a bedroom be shared with siblings?  Can an aging parent or in-law move-in if need be?  Is there area space to add square footage or another bedroom to the home?  I certainly don’t want my clients to grow out of a property!
9. Flaws in property that can’t be changed:  For example, is there a very small master closet that could not be changed or enlarged due to space restrictions?  Is the kitchen small in the layout, without any extra space to expand or extend?  Is there an airport nearby with noise?  Are there other issues related to the location within a community that can’t be changed? Is there traffic noise?
10. Bearing walls:  If buyers desire to make changes in the floor plan, such a removing walls and opening up the home, are there bearing walls that can’t be removed or need to be replaced with expensive steel beams across the room that add expense to the project?
11. Parking: Is the parking adequate for the amount of cars needed for the family?  Is there covered parking?  Is there a garage that holds two or three cars? Is there street or guest parking?
12. Laundry:  Is there convenient laundry? Is it within the home? Is it in the garage?  Is it in the basement? Is it on the floor with the bedrooms? Is it community laundry?  If the buyer is a larger family or a family unit with a baby, laundry could be a key issue to consider.

These are just initial issues that need to be evaluated after a buyer steps into a home they like. If these issues pass the buyers test, then, a contract should be written.  Upon acceptance, the buyer is then encouraged to consult with a physical inspector, termite inspector, natural hazard expert and other professionals to evaluate the interior of the home to make a more final determination.

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Beverly Taki is a Missouri-licensed real estate broker who has successfully represented clients for 25 years.  She is a broker salesperson at Keller Williams Realty St Louis. 10936 Manchester Road, St. Louis, MO   63122. Beverly has earned a certificate in dispute resolution from Pepperdine University, specializing in negotiation and mediation. Taki can be reached at beverlytaki@kw.com or 314-677-6366.  Her website is beverlytakistlouis.com and her blog is realestatestlou.com.

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