The moment we buy a home is a momentous occasion. The problem, however, is that because we want to buy a home so badly, we sometimes don’t see the flaws the property has. Although we do sometimes fall in love with a property, we should never purchase it without running a few necessary checks. Let’s review a number of these red flags.
Firstly, always look at the neighborhood. Is the number of homes and businesses dwindling? Ask people who live in the area whether it is a good place to live. Look at the land as well. If you find that the yard slopes downward towards the property, it is possible that rainwater would run down it and damage the foundations. Noticing bad smells, both in and out of the property is problematic too. Also look for bugs and insects. If there have been bugs or insects, people in the street are likely to know about it, so ask them.
Now, you need to see how the property was looked after. Check the property for maintenance as well. If you notice that there is a lack of structural maintenance on the outside, the inside will probably be the same. Also, look at the wiring. Although you probably won’t be able to identify all of the problems yourself, some red flags are easy to spot. If lights flicker or outlets are warm, there is a chance that the wiring is faulty. Check whether it looks like some of the walls have been repainted recently, which could be a sign of them trying to hide 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.Naturally, never view a property that you are not allowed to see in full. If you notice that walls have been changed or other structural work has been completed, you must find out whether this was done by someone qualified to do that type of work.
When it comes down to it, you are the only person who is able to decide whether or not to buy that property. But do make sure to exercise due diligence. Always make sure a professional inspector has looked over the property first. If you do find a property has significant issues, you have the option to simply walk away, or you can try to have the price decreased to compensate for this. However, always be careful that you do not get tied into a money pit.