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Do Research Before Buying New Home, Author Advises
By
Daniel Dullum
Spectrum staff writer
As the baby boomers approach senior status, their housing needs
are shifting as well, along with society’s perception of what constitutes
necessary housing for the retirement years.
“Some people would convey the attitude that if you’re old enough
to be part of the demographic of [Spectrum] then you’re too old to be buying
a home. I think that’s just hogwash,” said George Devine, a San Francisco
real estate broker and co-author of the ninth edition of “How To Buy a
House in California,” (published by Nolo, Berkeley, Calif.).
Devine defines a senior at “maybe around 45,” noting that people
in this age group often begin downsizing their homes.
“They don’t need as big of a home so they buy another,” he
said. “I know people who are buying a first home at that age.”
Devine, with attorney Ralph Warner and real estate broker Ira Serkes, lays out
a concise guide that covers every aspect of purchasing a home in California.
The book also highlights updated information on limited equity cooperatives,
co-housing and other shared-living arrangements. A section on “non-money” ways
to make your purchase offer attractive is included, along with information on
no-interest loans and advice on dealing with California’s homeowners’ insurance
hassles.
Using sample worksheets, forms, information boxes and layman’s language, “How
to Buy a House” offers practical advice on a variety of issues for home
buyers of all demographics.
“Whenever anybody of any age buys any property, they obviously want to
check everything out thoroughly,” Devine said. “This applies tenfold
when you’re dealing with any subdivision — condos, co-ops, planned
unit developments.
“This is an issue if you’re looking at a model and the exact unit
you’re going to live in isn’t built yet,” he continued. “It’s
also true with established resale properties where the physical condition might
pass an inspection rather well, but sometimes the fiscal condition of the association
is not good and you don’t know that unless you really doggedly pursue some
inquiry.”
In Devine’s opinion, shopping for a homeowners association, as well as
the home itself, is “crucial.”
“I had a situation once where I was assisting a client that we would call
a senior,” Devine recalled. “She was selling her home, and wanted
something all on one level. Right near St. Mary’s Cathedral in San Francisco,
there are some co-ops. We went to an attorney for advice on a list of questions
to ask, I went with her to the management office and spent two hours with the
property manager. He produced, at her request, a copy of the bylaws of the budget.
“[The property manager] said, ‘You know, people are entitled to these
things and nobody ever asks for them. You’re the first one ever to ask.’ Even
with that, there were problems,” he added.
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