Buying a home is a joyful period in a person’s life. Unfortunately, because of all that excitement, we can be blindsided at times and purchase something that isn’t worth our money. As much as you may feel that a certain property has stolen your heart, if it exhibits a number of red flags, you should leave it behind. Some of the things you should be aware of are below.
Firstly, always look at the neighborhood. Are people seemingly leaving in a mass exodus? Talk to your potential new neighbors and ask what the area is like. Look at the land as well. If the land slopes downwards towards the property, there is a chance that the foundations have been or will be damaged by flowing rain water. If you notice any bad smells, there is generally something amiss. Next, check whether there are pests. If there have been bugs or insects, people in the street are likely to know about it, so ask them.
There are also a number of things that can cause a lot of damage to a property that are almost irreparable. Some of these issues include water damage, pest damage, asbestos, mold and faulty wiring. But it often takes a professional eye to actually spot these problems. The current owners themselves may not be aware of the presence of these problems. In the cases where they do know that these issues are present, they may take steps to hide them. All that needs to be done in order to hide problems like this is a bit of cleaning and reducing power usage. To find out, you can arrange for a home inspection, but do also make sure you speak to members of the community. Unless they are selling themselves, they will generally be happy to tell you whether there have been problems in the past. 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. But do make sure to exercise due diligence. Do only purchase a property once you have had it inspected by a professional inspector. If any issues are found, it is up to you to decide whether you then want to step away from the property, or whether you want to use it as a bargaining tool to bring down the price. Do be careful with this, however, as you don’t want to end up purchasing a money pit.