Warning Signs That You May Not Want To Buy A Particular House
January 10, 2017
A home purchase is both exciting and fun. Unfortunately, because of all that excitement, we can be blindsided at times and purchase something that isn’t worth our money. You must learn to look out for a number of red flags and walk away from a property no matter how much you love it. Some of the things you should be aware of are below.
The first is the neighborhood. This is one of the most important things you will do. The community is either growing and decline and you need to find out which one it is. Signs of decline include numerous boarded up businesses and foreclosed homes. Experts say that it is best to visit the same neighborhood at different times and on different days. In doing so, you will also become aware of traffic. Purposely visit the neighborhood once at night, just to get a feel for what the streets are like at that particular time. Contact the police as well and ask them for crime statistics on the local area.
You should now look at the property itself and how it was treated. 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. Make sure to inspect the wiring. Only a qualified electrician can identify real problems, but you can have a general look. Flickering lights and hot outlets are major red flags. Owners may be trying to hide a problem if you notice that single walls have been painted very recently. Also inspect the windows. Look at whether the windows have mold or condensation or are hard to open; this could be a sign of expensive problems.Never even consider purchasing a property that you cannot see in full. If there have been any structural changes to the original property, you need to check whether these were done in accordance with various building regulations.
After all is said and done, only you can truly decide whether or not you want to purchase a home. However, you should always exert due diligence. Never purchase a property that you haven’t had professionally inspected. 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. However, always be careful that you do not get tied into a money pit.