Buying a new home can be as exciting as taxing.
Those house visits and tours takes a lot of time, and depending on how far it is from where you are currently residing, it could be tiring and expensive, too. The only thing that could make that worse is buying a problematic home.
What do we mean when we say problematic home? Simple – homes with more problems and more issues and expenses than actually getting a new house; pests, damages, structural problems, bad neighborhoods – that among many others.
Home owners won’t always tell you the bad things, otherwise, they would lose a sale. But there are things you can look out for to know whether or not it’s going to be a good buy, or a really bad one.
How do you know you’re getting a good purchase? If you’re living on my side of town, what you should be doing first is to go here to read property reviews to start off things properly. After that, ask yourself: How can you tell if you’re buying a bad/problematic house?
Answer: you cannot do things at a glance. You have to do a thorough inspection to get to the bottom of the house, literally, and it might take more time than usual to check it efficiently.
But here are some things you could look out for, without having to turn the house upside down, to know how well your purchase would be. Here are some red flags you should be wary about:
- Emptying neighborhoods– if everyone within ten meter radius is trying to move away and sell their homes, there must be something wrong with the community. Ask the neighbors about the situation in the area. It wouldn’t hurt to pry a little bit.
- Generally unkempt area– are the ceilings a little worn out (even under a fresh layer of paint)? Are the window grilles rusty? Are the gutters growing its own garden of vines and other things that should not have been there? A poorly maintained home may mean a lot of problems in the future. If you are purchasing a eco-friendly house, make sure that its heating and airconditioning systems are working. You might have to handle cost of repairs that you would have otherwise avoided in a well-maintained home.
- Problematic financing history– check if the house is good to sell or is owned by the bank. You do not want to be assuming past financial responsibilities by purchasing a financially problematic property.
- Off-Limits Rooms– on a house tour, a home owner generally lets you in the entire house and gives you a ‘feel’ of how it would be to live there. If there’s a room that they would not want you to see, even if you insisted, something must be there that you’re not supposed to see – something that would probably turn you off and discourage you from buying the house.
As for structural problems, the best way to know how well the house fares, structurally, is by giving it a full home inspection – top to bottom. It would cost you a bit, but it would be totally worth it.
Don’t let your excitement take you over. Get your mind ahead of the game so you do not end up regretting every extra penny you spend for repairs. For more tips and property investment advice, remember to check out http://www.goodmorningrealestate.com/.