Whether or not they realize it, every home buyer has a set of deal breakers that affects their home buying experience. Simply defined, a deal breaker is a factor that can cause a potential Buyer to decide not to purchase a particular home. Every Buyer will have their own set of deal breakers that are defined by various factors including personal preferences, finances, past experiences, and their needs. Before you start to look for a home, it is a good idea to identify your deal breakers and talk about them with your Realtor.
Deal breakers can literally be any aspect of the home or area that decreases the desirability of the property so much that a Buyer will not make an offer. Deal breakers typically fall into a few common categories.
Condition of the house
The condition of the house is a common deal breaker for Buyers although not all Buyers will be dissuaded by the same factors. The condition of the house can include any of the following:
- Roof,
- Amount of upgrades required,
- Electrical system,
- Plumbing and septic systems,
- Foundation,
- Presence of pests,
- Mold,
- Radon,
- Asbestos, and
- Water damage.
Location of the house
The location of a house can be such a powerful deal breaker that even if everything else is perfect, Buyers will walk away if the location is not right. There are several different aspects of a location that can be a deal breaker.
- Located in a high-risk flood zone.
- Located near buried items such as old oil tanks or other contaminants.
- Located in an undesirable area with low resale values.
- Located too close or too far from important amenities, public transportation, work, or school.
- Proximity to powerlines.
- Proximity to commercial or industrial developments.
- Proximity to loud areas.
- Proximity to known or suspected hazardous areas.
Additional deal breakers
As I already mentioned, deal breakers are unique to each individual Buyer. In addition to the potential issues listed above, here are more deal breakers that can affect a Buyer’s willingness to make an offer on a home:
- The history of the home and events that have occurred in or near the home,
- The suspected presence of supernatural activity,
- The Feng Shui of the home,
- Difficult or evasive Sellers, and
- Restrictive covenants in condominium properties.
Deal breakers are things that a Buyer simply is not prepared to overlook in order to make an offer on a house. Additionally, for some Buyers deal breakers might be completely based on the appearance of the interior or exterior of the home and there is absolutely nothing wrong with that! Whatever your deal breakers are, be sure to talk about them openly and honestly with your Realtor. Armed with that important information, your Realtor can work hard to find you the best possible home that does not have any of the issues you are not prepared to compromise on.
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