Why buy an active adult home? - Part V
Q: Should I get a rental car when I come out?
A: Most people find it easier to have a car so they can become familiar with the area at their leisure or to go back to communities that they liked, but we’re happy to pick you up at the hotel.
Q: What types of homes are there?
A: We have a large variety when it comes to the style of the home and some of that depends on what community you like. Not all communities have all the options from below but we can help direct you. Here’s a short list:
• Single Family. This would be your typical detached home where you would be responsible for most of the maintenance except for lawn care.
• Carriage Homes. This term is used in different ways by agents but typically refers to 4 to 6 units that are attached. Each unit has a one or two car garage and you would have a first floor or second floor unit which may or may not have an elevator.
• Duplex Homes. These are also known as paired villas or cottage homes because they have 2 units connected that are mirror images of each other.
• Condominiums. This would refer to a unit that is one of many in a building similar to apartment style living. HOA fees would maintain the outside of your unit/building and cover many of your expenses such as homeowner’s insurance. Due to the fact that these building have 3 or more floors, there would be an elevator.
Q: Do all the homes have air conditioning?
A: Yes, every home I would show you will have air conditioning. I know in the past homes were built without them but as of today you will not see homes for sale in active adult communities without it.
Q: What is Chinese Drywall? Do I need to be concerned when purchasing a home?
A: Chinese Drywall refers to an environmental health issue involving defective drywall manufactured in China and imported to the United States. The defective drywall especially became an issue during 2004-2007 when there was a building boom and American suppliers could not keep up with the demand so they imported drywall from China. Chinese drywall has been identified as a health issue because of the emissions of sulfurous gases.
Most of the homes with Chinese drywall have already been identified and remediated. We also recommend that you have a professional home inspection done on any home that you want to purchase. The inspector will check for signs of defective drywall while inspecting the other aspects of the home and alert you to any concerns.
Q: Is it true that bank owned homes cost less?
A: In some cases this is correct but be prepared to see homes that may need a lot of work or are missing items. The active adult communities in our area have very few foreclosures, but if you find one, then an offer will be submitted to the bank. The bank normally waits for a period of time before reviewing offers and making a decision.
You can often find yourself in a multiple offer situation so be prepared for competition on bank owned homes. One thing to consider is by the time you update a bank owned home you may end up spending the same or more than you would have for a non-bank owned home.
Q: Will the bank make repairs on a bank owned home?
A: When you buy a bank owned home, you will be signing an “As Is” addendum that states you are buying this home as you see it. No repairs!
Contact one of our agents for more info.