First Time Homebuyers: What to Look for to Score Home Gold

a yellow house in the middle of a lush, green field with mountains rising in the background

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St. Patrick’s Day is here, and we’re spreading some good luck by helping you find some “home gold” during your home buying search. We spoke with real estate agent Eric Godoy of RE/MAX Premier in Warren, New Jersey, to find what first time buyers should look for in a home, and he offered this advice:

“Commonly the way you know you have a good house is if your big-ticket items are already covered. This way, you don’t have to anticipate unwanted expenses.” *

So while perusing those online real estate tours for your new home, be on the lookout for these essential items that are home gold.

Home Gold #1: The top o’ the house

a roof with rain trickling off the side
A great find for your new home – a new roof.

Replacing a roof can be one of the most expensive projects for a home. Depending on the size and condition, your roof could end up costing you upwards of $20,000 to repair and/or replace, so if you find a home with a brand-new or recently replaced roof, you’ve hit the jackpot!

Home Gold #2: A new furnace

a Google Nest programmable thermostat shows it's 20 degrees outside and raining
A new furnace helps to keep you warm for the first years in the home.

New furnaces generally cost between $3,500 and $7,000 to install and are even more expensive when combined with air conditioning. A home with a new furnace means you won’t run the risk of losing heat within your first few winters.

Home Gold #3: Hot water heater

a golden hot water faucet
 Enjoy a nice, warm bath.

None of us want to be Tony Soprano when it comes to our hot water heaters. If your hot water heater bursts or malfunctions, you won’t be able to take a warm shower and could have thousands of dollars in water damage. A new hot water heater gives you peace of mind when moving in, and if you’re buying a home from a conscientious homeowner, you might even score an automatic water shut-off valve. (If not, look to install one after closing.)

Home Gold #4: Stainless-Steel Appliances

a new stainless steel oven with blue cookware
Cook up some dinner on your new appliances.

Some sellers leave their old appliances in the home, which you may or may not want. (Green spots in a refrigerator are never good, even on St. Patrick’s Day.) However, you know you’ve struck home gold when you see those homebuying favorite, stainless-steel appliances just ready for you to cook (and host) your first Thanksgiving.

Home Gold #5: Smaller (but no less important) ticket item

a white, clean kitchen with new stainless steel appliances
A new refrigerator is just the homeowner showing the next owners some love.

Homeowners who are looking to sell their house quickly usually invest in refreshing the hardwood floors or installing new carpets. You’ll probably also luck out with a fresh coat of neutral color paint or perhaps even an updated kitchen or bathroom(s).

Your lucky charm – a home inspection report

a white, clean kitchen with new stainless steel appliances
Get a professional’s opinion.

Prior to closing, a home inspector will examine the major accessible elements of the home. These generally include:

  • the roof
  • interior electrical system
  • interior plumbing system
  • exterior elements
  • built-in kitchen appliances
  • foundation and substructure
  • central heating system
  • and central cooling system.

A home inspector will be able to tell approximately when your roof, furnace, and hot water heater were installed, as well as when the kitchen appliances were added to the home.

The report itself will help you to know when to replace certain appliances and devices in the home, so you can keep ahead of any maintenance and replacement costs starting from move in day.

Knowing what to look for and having a first home essential checklist, can help first time home buyers make a little luck and strike gold during their home purchase journey.

Give your house a home

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Subscribe to our home management app!

Here at vipHomeLink, we know how difficult it is to take care of your home. That’s why we help to simplify homeownership through our home management app, which provides homeowners with personalized reminders for home tasks and tailored recommendations for home improvement. From replacing your appliances to vacuuming your dryer vent, we’ve got you covered.

Download the vipHomeLink app today from Google Play or the App Store.

Looking for a home in New Jersey? Give Eric a call today to start your home buying journey!

*New homebuyers have different purchase price needs and different desires. While some may be fixer-up geniuses, others don’t know where their toolbox is located. (Try your closet under your college sweatshirt.) We asked Eric for recommendations regarding home gold for a”move-in-ready” home rather than a do-it-yourself homebuyer’s dream project.

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