The Home of DIY Handyman: Who repairs a home for the rent-to-own home buyer?
When it comes to buying a home there are many people today who are unable to get the credit score to buy a new or used home. Increasingly home sellers and buyers are turning to rent to own homes as an answer. Beware of the pitfalls before venturing into the rent to own home market.
One question the rent to own buyer has to ask is who is responsible for the home repairs? The buyer? The seller? We have been getting calls from rent to own home owners who don’t know what to do with home repairs. Should they do the repairs? Should the landlord make the home improvements? These are all good questions and there are no easy answers.
In any house there will thousands of dollars expended on home repairs. In the rent to own home the buyer is in an advantageous position if he or she knows some basic diy home repairs. While you may gain experience as a homeowner there is never a shortage of home repairs that can be done inexpensively when the diy home buyer is the repair person. Maybe the rent to own buyer should consider becoming a handyman, that way the repairs needed include no labor charges, only materials.
In the first place the home buyer should have an agreement with the home seller that spells out the responsibility of each party. For example, the home seller (landlord) is usually responsible for big home repairs such as; roofs, siding, furnaces, carpet. This leaves the rent to own buyer in charge of the smaller handyman types of home repairs and maintenance, this would include; minor painting, cabinet tuneup, minor drips from plumbing pipes, clogged drains, loose door knobs, screws that need tightening, odds and ends-generally things that cost less the a hundred dollars to repair.
In any home purchase that is for sale by owner with owner acting as the bank it is imperative to have the list of home repairs itemized as mush as possible. In addition, before the buyer moves in there should be an independent observer (a handyman or contractor pro) to go through the house and locate any potential home remodeling projects. The last thing a buyer wants is to find out after the fact that a bathroom needs serious renovation that the landlord may have expressed verbally will be addressed. Then the buyer moves in not realizing the agreement to purchase the home had a paragraph that stated ‘all home repairs are the responsibility of the home buyer.’ That can be an expensive lesson in home ownership.
Where to find a home inspector/home handyman? Home repairmen are all over the place, as are home inspectors. In my experience for the money spent on a home inspection I would go with the experienced home remodeling pro instead of the home inspector-certification-in-hand person. Many time the certified inspector knows very little in the way of actual home repairs, not all of course, but many are simply holding a certificate from some online course or classroom.
On the other hand a home remodeling pro know the ins and outs of a house and can give an estimate or ballpark of what things cost. This home inspection step is a very important one for anyone buying a home. If you are buying a home in northeast Ohio and need a home inspection give Housecalls Home Services a try. They build and remodel homes going on 25 years.
This is a good site for all you need to know about your rights with a rent to own home and the home handyman repairs you make.