Preface from The 10 Biggest Homebuying Traps, by A.M. Watkins and Patrick Hogan (Dearborn Publishing, 1996)
“Why is it that whenever somebody buys a house they need a new roof within a year?”
So asked one wry friend of ours at a time when many of us we’re buying our first houses. You can count on discovering something new about the house you just purchased in the first month after you move in. We wrote this book is to help you avoid bad surprises.
When you study customer satisfaction surveys or complaints and lawsuits in the real estate industry, you’ll see the same problems coming up again and again. We did, and that’s what gave us the idea to choose the ten biggest homebuying traps that make up this book. We’ve considered the principles of quality design, materials and construction in houses. We also offer advice in handling the legal and financial parts of the bargain in a sound, businesslike manner.
If you keep your eyes on the traps, you’ll also know quality when you see it. This book is all about making the best decisions when buying a home. That means understanding how to work with the real estate agent and knowing if she works for you or the seller. It means recognizing what’s good design inside and out in a house. And it means making money-saving mortgage choices.
Should you buy a new house or a used house? If you’re like most people, your preference is based on preconceptions. They don’t build them like they used to. Or, with a new house we won’t have to worry about any maintenance because it’s brand new. We have provided ey-opening advice for either choice. You may think that buying a top-of-the-line new home will save you from trouble, but not if you’re dealing with a vanishing builder. We’ll tip you off on the warning signs. If you’re buying a used house, we’ll help you steer clear of the lemon. We describe the most common house ailments, including environmental problems like radon, lead and asbestos.
When you’re avoiding traps you’ll be saving money. You’ll negotiate the best deal. Amidst the wide variety of mortgage products, you’ll choose wisely the best for your financial situation. You’ll stay away from the energy guzzling home that is a hole in your wallet. And you won’t pay for gimmicks that turn out to be more trouble than they’re worth.
This is the book that we wish we had when we bought our first houses.
We hope it offers you useful ideas and advice, especially how to avoid the major traps that have long hurt home buyers. Good luck.