ArcaMax

This column could save you, or a loved one, tens of thousands of dollars. There’s a very good chance you’ll relate to the following story, especially if you can recall purchasing your first home.

I have three children. It was a dream of mine before they were a glint in my eye to help them build or remodel their homes. I’ve achieved two-thirds of the dream. I helped build my oldest daughter’s new home in Bar Harbor, Maine. I installed the plumbing, electrical, and radiant heat systems in her home. It was a tremendous amount of work, but very fulfilling.

My son purchased a brand-new home four years ago. I helped him build a large patio three summers ago. We’ve added 1,100 square feet of finished living space in the past two years by transforming his unfinished basement. I’ve devoted quite a few past columns to this endeavor.

My youngest daughter is now trying to purchase her first home. The marketplace is awash with sellers trying to unload their homes. Mortgage interest rates are climbing faster than a squirrel scaling a tree after my dog chases it. Listing prices in many instances are dropping.

Just five years ago, it was a seller’s market. I remember attending open houses with my son. There were often 20 other buyers clawing at each other in the house. Buyers were receiving multiple offers, many of which were over asking price. It was insane.

The pendulum has swung the other way. It’s now a buyer’s market. Buyers have a huge advantage over sellers and can negotiate many things, including sales prices below asking prices. The issue is that many sellers are not willing to accept the reality that they bought their homes when interest rates supported high prices. As interest rates rise, the price of a home has to drop, since a buyer can only afford a certain monthly payment.

The issue with a first-home buyer is he or she often injects far too much emotion into the process. My daughter wants a home more than a small child wants a piece of delicious candy. This is a recipe for financial disaster. I feel you need a bit more context; I was an Ohio real estate broker for 20-plus years in addition to being a builder. I’ve seen a first-home buyer ignore serious defects in a home in their lust to buy it.

Many years ago, I developed a handy checklist for homebuyers. It contains over 100 items you should evaluate as you walk through a house you’re thinking of buying. You don’t have to be an expert, as it just asks you to judge the appearance of this or that.

For example, one of the items you look at might be the furnace or boiler. I think you’ll agree that you can distinguish one that’s very new from one that’s rusted, filthy, and 30 years old.

When the checklist asks you to look at the foundation walls or a concrete slab, I believe you would be able to spot cracks. Some cracks might be harmless, normal shrinkage cracks, but others might indicate a serious structural issue. If you don’t know the difference, then you’ll be able to employ a certified inspector later in the process to make the determination.

I designed the checklist to stifle the emotion that bubbles to the surface when looking at a home. It’s normal to downplay cosmetic defects while your brain paints a picture of a delightful home decorated the way you want. The issue is you often don’t do the math to get from the harsh reality of a neglected home to one that looks like it’s a feature article in a home magazine.

This past weekend my daughter used my checklist while she went through the third house in her hunt. I’m happy to say the checklist did its job. She was able to spot quite a few cosmetic items and two major structural items that need to be addressed.

The buyer's broker representing my daughter had never seen a checklist like mine. She commented that it will help her communicate to the listing agent why my daughter’s offer is so far below the current asking price.

I urge you to consider using my checklist. At the very least, it might save you hundreds of dollars. My checklist might uncover one or more deal-breakers that force you to walk away long before you go to the effort to hire a professional inspector

You can obtain the checklist using this link: https://go.askthebuilder.com/checklist. Be sure to type the word go followed by a period.

I’m available to answer any questions you have about what to look for when looking at an existing home for sale. Just use this link to set up a phone call: https://go.askthebuilder.com/coaching.

Subscribe to Tim’s FREE newsletter at AsktheBuilder.com. Tim offers phone coaching calls if you get stuck during a DIY job. Go here: go.askthebuilder.com/coaching

©2026 Tim Carter. Distributed by Tribune Content Agency, LLC.