Buying a house is supposed to be a fun and exciting time. The only problem is that you have to make sure your excitement doesn’t make you stop from seeing any issues that a property may have. Yes, some properties seem to just call to us, but if they have certain issues, you should still walk away. Let’s take a look at a few of these red flags.
Always look through the neighborhood. Are people seemingly leaving in a mass exodus? Ask people who live in the area whether it is a good place to live. Also check out the land. Foundations could be damaged by rain water if the yard slopes downwards to the property. Use your nose: bad smells in or out the property are a bad sign. Look into whether there are pests. This is also something to ask others in the neighborhood about as they are likely to know all about past insect, rodent or other pests problems.
A number of things may also have happened to a property that are very hard to restore. A few of the things you need to look for are signs of water damage, pest damage, asbestos, mold and faulty wiring. The issue is that identifying these types of problems can be very difficult. The current owners themselves may not be aware of the presence of these problems. And if they do, it is likely that they will try to keep them hidden. By simply ensuring the property is very clean and no sockets are used unnecessarily, you are not able to see the problems are there. Besides organizing a professional home inspection, what you can do is speak to members of the community. They will be happy to tell you about any historical issues that have occurred in the area. Usually, problems like pests, water damage and mold don’t occur in just one home.
At the end of the day, you are the only one who an decide whether you will buy a property or not. Nevertheless, due diligence should always be exerted. Always make sure a professional inspector has looked over the property first. If an inspector does find significant issues, you can decide whether you want to leave the property behind, or whether you want to bargain and bring the price down substantially. However, be very careful when trying the latter option, as you may just find yourself with a house that requires a lot of very expensive repairs.