Compare The Condition Of Comparable Properties Before Making An Offer

If you are an organized house hunter you'll visit several open homes (perhaps dozens) and drawn up a shortlist of properties you could possibly make an offer on.

If you have got your shortlist down to one or two properties you'll need to closely examine the features, benefits and disadvantages of each property separately. You'll want to compare the condition of each property, the asking price and compare the general neighborhood.

After working through this process you'll be able to decide if the property is average, above average, or below average when compared to similar properties on offer.

At this point in the process it would pay to compare each property with similar homes that have recently be sold. This is where you may come unstuck because, although you know how much a similar property sold for, you may not know what condition it was in when it sold. This is where a real estate agent may be of help. He or she may have inspected the property before it sold and might be able to give you an honest comparison. It is probably worth a drive past to at least see the outside appearance of the house for yourself.

When comparing homes the condition of each property is important - particularly the structural condition of the property. It is also important to consider: ceilings, floors, walls, doors and windows. Have there been any major improvements such as room additions, garaging, extra bedrooms or bathrooms, swimming pool, wall removals etc. Examine the condition of paintwork, carpets, wall and floor coverings. Look at the quality and condition of household fixtures including: doorknobs, light switches and fittings, and drawer handles. Check the water pressure and find out if any electrical work has been done or is needed. Consider the street appeal and general quality and suitability of landscaping.

When checking the condition of a property always pay close attention to the two most important rooms in the house - kitchen and bathrooms. These rooms can dramatically alter the value and appeal of a property.