- On
- By
- Categories: My Blog
3 Red Flags To Look Out For When Buying A Home
If someone is eager to sell their property, they may keep a few defects hidden. It is unfortunate that if you were to hire a professional inspector for each viewing, it would get incredibly expensive. So, here are some red flags that you can look out for that could tell you to avoid the property.
Firstly, be very careful before you buy a property listed as a “fixer up.” It is certainly true that these properties seem very interesting because they are so affordable. Many times, we believe that we can fix the problems ourselves. In reality, however, they are often things that must be done by qualified professionals. Unfortunately, these professionals cost a lot of money, often more than you may have budgeted for. Secondly, be very careful of properties that have clearly had DIY adjustments. People may have done a really good job, at least cosmetically, but the reality is that it may be saddled with problems.
You should now look at the property itself and how it was treated. You should be able to tell whether it was maintained regularly. A home that is run down on the outside will probably be in a similar state on the inside. Also, look at the wiring. Real issues can only be identified by a qualified professional, but you can get a good idea yourself. Flickering lights and hot outlets are major red flags. Similarly, if you notice that there is a single wall, or just a few walls that have been painted very recently, where others haven’t, the owners may be hiding something. Check the windows. Look at whether the windows have mold or condensation or are hard to open; this could be a sign of expensive problems.If an owner declares certain rooms as “off limit”, then go find a different home to buy. If any structural work has been done on the property, you need to make sure that it was done by someone who was fully qualified to do this.
The reality is that you are the only one who can decide whether or not to buy a property. Additionally, if you find that there are certain problems, you could use this as a negotiating point to drive the price down. On the other hand, if you then have to pay even more money to fix it up, or if you can never sell it again, then it was a waste of money. Whether you purchase a property as an investment or as a home, it is always going to be a building that somebody will live in, and you need to make sure that the quality of life in that property can be pleasant and enjoyable. It goes without saying that checking the condition of the property itself is very important, but the area it is in must be focused on as well. All you really have to do in order to find out whether the property itself is any good is hire a property inspector. In terms of checking out a neighborhood, there is no data available to do this right, only your own personal feelings.
