HGTV House Hunters is a wildly popular series on the HGTV Network. It’s entertaining but many people forget that it is, after all, entertainment. It’s not real. Like all entertainment, it includes things that are not true because the purpose of HGTV House Hunters is to entertain and not to educate.
If you’re a fan and viewer, here are a few things you may wish to evaluate.
It’s Under Budget, We Can Spend The Rest On Renovations
When you buy a home and make improvements, you have to be careful not to price it above the neighborhood. For example, if the couple on the HGTV House Hunters show buys a home for $200,000 in a $200,000 neighborhood and then adds a sun room, granite counters, tiled baths and finished basement, they could spend an additional $100,000 and have a total of $300,000 invested in their new home.
This can cause 2 problems. If their $300,000 home is in a neighborhood where all the homes are about $200,000, they not be able to get their money back when they sell. Homes have to fit the neighborhood buyers and average costs. This never comes up during the HGTV House Hunters show. Before you decide to do major improvements, you need to consult an experienced Realtor and see how your renovated home will sell later. Call me at 847-471-7177 for more information on this undisclosed pitfall.
The second challenge is that most mortgages do not allow for extra cash for renovations. You need to get a specific type of mortgage that will allow for this. On HGTV House Hunters, the buyers usually assume they can spend the difference between the cost of the home and their budget on renovations.
Do Research Before Buying
On HGTV House Hunters, the couple looks at homes in a wide range of prices and then picks one without doing any research. One of the services I provide my clients is a complete market study that shows the activity of similar homes in a similar location to determine the exact value of the home being considered. This work is essential for a good buy.
Get A Home Inspection
On HGTV House Hunters, the show very rarely discusses home inspections. It is a very good idea to get a home inspection before you close the sale. There are many other things that can go wrong before closing. These are never discussed during the show. It is essential that you use an experienced Realtor who will follow your purchase to closing and help solve issues like appraisal, inspection and other issues that could block your purchase from happening.
Did They Get Permits & Professional Help?
When you think about buying a home that has had walls moved or basements finished, it is very important to find out if the sellers got permits to do the work. If they didn’t, you could face an undisclosed tax increase when the town finds out about that finished basement or deck and re-asseses the home. Further, if walls were taken out or additions added, did they have an engineer design the bracing or did they just “wing it” as they do on the show Our First Flip?
Everything Isn’t A Gut Job (Thank Goodness)
On HGTV House Hunters you very often hear the phrase “it’s a complete gut job” The buyers say this a lot. Gut jobs are not always necessary and have dangers associated with the. Painting the cabinets and replacing counters and sink does a lot for the kitchen and costs less than $5,000. Why tear everything out? On the show, the renovations go perfectly and are done on time and under budget with a minimum of drywall dust etc. In real life, many people will say that renovations were a nightmare.
Also, have you ever noticed that the Realtor on House Hunters often doesn’t listen. They show homes above budget, in the wrong location and lacking important features. If you would like to hunt for houses with a Realtor who listens, call Tony Delisi “The Results Guy at RE/MAX Unlimited Northwest 847-471-7177.