Buying a home is a joyful period in a person’s life. The only problem is that you have to make sure your excitement doesn’t make you stop from seeing any issues that a property may have. Although we do sometimes fall in love with a property, we should never purchase it without running a few necessary checks. Let’s take a look at a few of these red flags.
Always look through the neighborhood. Are people seemingly leaving in a mass exodus? Ask people who live in the area whether it is a good place to live. 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. Use your nose: bad smells in or out the property are a bad sign. Look into whether there are pests. This is also something to ask others in the neighborhood about as they are likely to know all about past insect, rodent or other pests problems.
Then, you need to look into things that may have caused damage to the property that are very hard to fix. Make sure you check for signs of the presence of water damage, pest damage, asbestos, mold and faulty wiring. But it often takes a professional eye to actually spot these problems. It is very much possible that the sellers don’t know these problems exist. In the cases where they do know that these issues are present, they may take steps to hide them. By simply ensuring the property is very clean and no sockets are used unnecessarily, you are not able to see the problems are there. To find out, you can arrange for a home inspection, but do also make sure you speak to members of the community. They will be happy to tell you about any historical issues that have occurred in the area. 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. Always make sure a professional inspector has looked over the property first. If some serious issues are identified, you can then decide whether this means the property is not for you, or whether you want to try and have the current owner reduce the selling price. Do be careful with this, however, as you don’t want to end up purchasing a money pit.