It’s a Killer Market - Don’t waste your time at an Open House!

^{Written by Keith Sluka | AVP/Residential Sales Manager}

You’re ready to buy a new home and apply for a mortgage, but you’ve seen how competitive the market is. Now you’ve found a house that looks great on paper, so it’s time to visit during an open house. Will it be all that you hope? After waiting 30 minutes to get inside, it’s your turn. Here are some tips to get the most from your brief amount of time:

Some Basics

First some quick good behavior tips. Leave your pets and the little ones with a sitter, for their safety and your peace of mind. Do not park in the driveway. Don’t open their cabinet drawers, medicine cabinets or refrigerator. Sign in if requested with your real name and phone number and e-mail if requested. Let the agent know if you are working with another agent if asked.

What to bring?

1. A notebook and pencil. The internet pictures won’t provide you with everything you want to remember. As you look many homes will start to blend. You won’t remember which one had a fireplace that is fake or the low ceilings or no storage space. Write everything, then you can decide if it is a PRO or CON later. If you are a good “napkin artist” draw a sketch of each floor.

2. Your phone or camera. Ask the real estate agent if you can also video and/or take pictures on your phone as you walk through.

3. A tape measure. Measure rooms: measure height, measure furniture.

4. Your imagination. This is the most important thing to bring. You walk inside, imagine taking off your shoes (where do you put them?), taking off your coat (where are you hanging it?). Go to the living room; where is your couch going, where is your TV going? Will it block a window? Look at the bedrooms, where is your bed going? Is the bed blocking a window, or door? Watch for small but important details, where are you hanging the TV? Where are electrical outlets to plug in your phone, laptop, etc. Take the time at the Open House to mentally move into the house.

5. A partner. An extra pair of eyes are always helpful. In fact, I would bring the most critical person you can find (hello Mother-In-Law)! You don’t have to listen to her but at least she won’t be afraid to point out potential issues.

You have toured the property and it looks great. You are falling in love with it, and you are ready to make an offer so….

What did you forget to look for?

1. SPACE – Many Open Houses are staged by a professional designer to make them look larger than they are. Take note, is the bed in that room a King? Queen? Double, etc. Is there enough cabinet space and counter space?

2. INTERNAL STORAGE – Does it have an attic? Can you stand in the attic? Does it have a basement? How big are the closets (not just the length but the depth as well)? Will it fit a hanger with a heavy winter coat?

3. EXTERNAL STORAGE –Does it have a shed? Does it have a Garage that can fit more than just a car. Can you open the car doors when in the garage. How big is your car?

4. BACKYARD and FRONTYARD – Are they in good condition? Is there landscaping? Is there outside electricity and water for an outside generator and a water hose? Are there Trees? Do they provide shade? Do you want to clean up leaves? Are they too close to the house? Do they look healthy?

5. OLD AGE – How old is the roof? How old are the appliances? How old is the heating and air conditioning system? How old is the water heater?

6. NEIGHBORHOOD – Before making that offer, go back in the evening. Go back during rush hour. Go back when the school kids are home. Talk to a neighbor about the neighborhood. Are there local restaurants, coffee shops, playgrounds, public transportation. How are the local schools? Is this the neighborhood you envision living in?

7. THE SUN – Which way is the house facing and why does it matter? You hear realtors use the words “Southern Exposure” which seems to be most preferable. So, the sun rises in the east and sets in the west, but for us in New Jersey and around the northern hemisphere, it always tends to be angled slightly toward the south (remember 3rd grade science?). I personally have a house whose front faces North. From early morning I have sun in my backyard (it’s great for BBQs and a pool and nice grass) but if it’s too hot I have no shade. The structure of my house shades my front yard during the day. So, the grass in my front yard takes longer to turn green, and I need plants that like the shade. During the winter, I think about the sun differently. It only hits my front yard late in the day and for a short period, so ice and snow take much longer to melt off my lawn, driveway, and sidewalk.

Now you’re ready to master your next open house. Remember to go armed with your mortgage pre-qualification letter from Kearny Bank so that you’re ready to make that offer. And if you’re a first time home buyer be sure to ask about additional loan options. Then get ready to hire a professional home inspector who will catch the things that you may have missed – but more on that in a future blog post!

About Keith

Keith Sluka is an Assistant Vice President / Residential Sales Manager in Kearny Bank’s Residential Lending practice. His professional focus – his goal – is making clients’ dreams of home ownership come true. That’s what motivates him, day in and day out. Keith has worked with residential loans in the New Jersey/New York corridor for more than 25 years now and has seen and addressed just about every possible challenge. That’s just another way of saying he’s prepared for any situation that can arise. Born and raised in Jersey City, Keith still does a significant amount of business there, with many of his clients being first time home buyers. Keith is also a US Army Veteran and takes great pride in helping others achieve the American Dream of homeownership. Keith invites anyone who needs help with a mortgage loan to reach out to him. NMLS #223260.