Monthly Archives: January 2017

2 Red Flags To Look Out For When Buying A Home

The moment we buy a home is a momentous occasion. However, because we are eager to make the purchase, we sometimes fail to notice see the various defects of a property. Yes, some properties seem to just call to us, but if they have certain issues, you should still walk away. Some of the things you should be aware of are below.

 

First and foremost, think hard before you buy a “fixer up.” These properties are listed as being incredibly cheap, which does make them attractive. Many times, we believe that we can fix the problems ourselves. However, you are likely to find that only qualified professionals are able to actually fix the problems. The fees of these professionals may be much higher than you had expected. You should also be wary of properties that have had DIY fixes. Although a DIY job can look great on the surface, it is likely that it actually has a whole lot of problems.

 

Then, you need to look into things that may have caused damage to the property that are very hard to fix. 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. In order to find out whether these issues are present, you will need a professional home inspection; but you can also speak to community members. Unless they are selling themselves, they will generally be happy to tell you whether there have been problems in the past. Generally speaking, big issues like pests, water damage and mold happen in more than one house at the same time.

 

The bottom line is very simply that a home should never be bought unless a professional inspector has given you the green light. With the information above, you should be able to find out whether you should walk away, or whether hiring an inspector is a good idea. If the property does have problems, you can decide to walk away from it, or you can demand a substantial discount in order to pay for the repairs. Do also make sure you listen to professional inspectors’ advice. Their goal is to make sure you get a good deal on a property.

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