The Growing Threat from First Time Home Buyers (and How to Avoid It)

While I am not a statistician, I think that it is safe to say that there are a larger number of first time home buyers closing on properties now than there have been for many years...both in raw numbers and percentages, and that number will hopefully continue to grow.

People who have never caulked a window in preparation for Winter, who never ventured beyond the operation of a thermostat to understand how their building was heated, and who could always rely upon a parent or landlord to repair or replace important items of necessity or comfort...are now moving in to their very own houses. Some of these houses have sat vacant for many, many months and we all know how empty homes tend to deteriorate faster than those that are lived in.

How well did you prepare them for the reality that is about to be added to the usual "buyer's remorse" when an undisclosed plumbing issue comes to life the day before the house payment is due? Will they be calling you or blaming you when something goes wrong?

If there are any of your clients in need of a home inspection it is your first time buyer who has little understanding of the home and how it works. The time that he spends with the inspector as they go through the house together, asking questions and learning where to turn off the main water valve, how the breakers in the electrical service panel work, where the furnace filter is located, how to test the sump pump and where the water in the pit is actually coming from, and what tools to acquire for regular maintenance can be a great way to prepare to be a responsible home owner.

Having a home inspection report from which to plan regular maintenance and one that identifies areas to monitor is an added value. They can anticipate the issues that may arise from a water heater they know to be aging or a roof that has five years of life left on it.

Much more importantly is the education from an inspection that there are things that happen as a structure ages and withstands a beating from the elements. Learning from their inspector that there are things that home owners must do, must stay on top of, and must anticipate in order to keep their homes in good condition. I provide a "How To" book with each inspection report to better prepare the buyer. Some inspectors do the same or follow up with emailed newsletters or other items to keep their clients informed.

An informed buyer will be a happier home owner who is less likely to "blame the realtor" when something breaks and feel less cheated when they need to put more work or money (or both) into their brand new home. A home inspection from a professional home inspector is the tool for providing this preparation. Urge your clients to use it.