HGTV is one of those popular channels that real estate prongs like for their innovative ‘Reality’ shows about real estate. From a presentation made in these shows, buyers and sellers are able to come in close contact with each other. The process of buying, fixing, and selling becomes a dough-penetrating process with tips from sites like these.
Despite the expertise, there are several viewpoints that the channel misses to represent; some a that these are not scheduled in their program as providing for entertainment is also a part of the mission of HGTV shows.
In this article, we have targeted to let people know about some of the factors missed in the shows of HGTV:
Transactions in Real Estate take a lot of Time
Everything seems to happen very fast in HGTV channel shows. The reality is that the dealings over real estate take a minimum of 30 days to complete.
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If you plan to build your house with acute designing and in a more organized way, the timing will be far beyond that.
Building a house involves a lot of steps. These involve Inspection, search for title, appraisal, obtaining HOA resale docs, processing and approval of mortgage loan processing followed by closing document preparation.
Missing any of the aforementioned steps would be disastrous. You must not rush through too.
Careful and attentive coordination is required to make property renovations
Shows demonstrate the fact that a host buys a home at auction. The contractors will be seen at work on-site the same afternoon.
In practical life, an investor needs to make a lot of planning before commencing rehabilitation.
In the first instance, the proposer will create a scope of work. Intricate details of work would be had off from such scope. Bids from different contractors and trades are taken; the host requires developing and managing the schedule of work, submitting permits, and getting inspections.
Rehabilitation occurs seldom; timed completion requires making a detailed plan. There will be a requirement for the project manager too; his role will oversee the project.
Safety while Renovating:
Lots of fun could be made on TV, but never compromise with safety issues. If the electrical wiring is below the wall, avoid purchasing. You never know which portion of the wall will go for a sudden blast.
Other electrical plug-points require serious investigation too.
Finding and Purchase of Properties is an Arduous Task
HGTV shows often bring out an illusionary theme that couples are offered with an alternating set of rehab homes. From the multiple options open, they choose the best one.
The fact stays far away; the first flaw in the demonstration is the fact that rehab houses were never in abundance in any of the city locations. Rates are also on pick in for such homes.
Lots of researches are required to make over the internet or tabloids offering such news. Listings about the properties are often found incomplete. Attached photos seldom match the actual property.
Terms and conditions are, more than often, found in the strictest forms. You will be irritated by the hurdles and challenges that you need to encounter at the time of purchasing the capital.
When you are through in the information, various properties will be primarily found that relate to your choice. You will feel an urge to visit all those properties before making a final decision. In order to satisfy the inner curiosity, Investors need to visit the selected property locations in person.
In the real-life shows, HGTV picture up the exchange of dollars in huge amounts. The participants appear to have never tasted poverty. Payments in dollars are made within the blink of eyes.
It has purposefully left away from the need for capital in such ventures. They omit the fact that if the concerned people do not have own cash, he will have to pass through a lengthy and tough process of lending from any financial institutions.
Money is needed for the initial purchase, as closing costs and at the time of renovations. Holding costs including tax, HOA fees, insurance, and utilities that are needed to meet up at the time of selling a property.
Put a checklist while visiting a Property
Never fall in love with the aesthetics of a home. You are buying a property for staying. Therefore, It must have those things that can’t be avoided for staying.
Therefore, prepare a checklist of the must-have criteria in a ready-made property in the previous night of your visit. Tick down the haves and don’t have them at the end of the visit.
The process will reduce the time for evaluation and reach a final decision.
Who are your neighbors?
HGTV speaks out a lot of things about the location, the interior decoration, and various other things at the time of displaying a property. Very little is referred to about the potential neighbors, if not at all.
But peaceful residing depends a lot upon having good neighbors. The purchaser of a property must collect vivid information about this before making a final decision.
Alert customers are great customers; show your presence of mind and sense of awareness at the time of purchasing a property.