Warning signs too expensive to ignore when investing in a home

We all know that the attempt to purchase a new home presents exciting times and opportunity for the investor. The joyous feeling of knowing that you’ve set aside the required funds to buy your dream home, and now, all that’s left is for you to find a home you fall in love with, pick up keys, and a cleaning crew and maybe an interior designer to get cracking. The finale of this journey that ends with ‘this is my home’, is one that every prospective buyer looks forward to.
However, before you fall or slide in all too quickly in love and part with your stashed up huge sum, a word of caution: there are checks that are absolutely vital to carry out. There are red flags and warning signs that are tale tellers, but you’ve got to be ready to listen, and refuse to be swayed by the whitewash of any home, or the giddy feelings that your supposed dream home inspires. There are things that upon sight, and investigation, you should walk away from. Yes sadly, that home isn’t for you, except you’re ready to cry hot tears sooner rather than later. Here are some of the warning signs you should in no way ignore:

 

Foundation/Structural Problems:
If the foundation of the home you’re about to buy is shaky in its roots or structure, how can you proceed. Foundation and structure are key for any building, as it is arguably the most important part of a home. Just to be clear: One of the costliest repairs to a home is correcting foundation problems. A home with a problematic foundation can cost a home owner a huge chunk of cash to correct a problem.

When looking at homes, it’s important to be aware of the foundation. If the home has got floors it can be relatively easy to see if there is any cracking in the foundation. Minor cracking may only be a sign of settling in the home, however, large cracks can be a sign of structural problems with the foundation. Another way to tell if a home is possibly experiencing structural problems is by looking at the door frames throughout the home. If the door frames seem not to be square or the doors seem to have difficulty closing, it’s possible there could be some problems with the homes structure. The best way to determine whether a home has foundation or structural problems is by hiring a structural engineer to conduct an inspection on the home.

 

Shoddy workmanship all around the home:
Amateur workmanship is one red flag that buyers need to be on the lookout for when viewing properties. It’s an extremely important consideration to make when buying a property, to determine that properties are not constructed and erected by workmen who don’t have the qualifications to complete the projects properly, so it’s important to pay closer attention to amateur workmanship.

Some of the most common amateur workmanship jobs to keep an eye out for when looking at homes include plumbing, carpentry, and electrical work. When looking at homes it is a good idea to keep an eye out for leaky faucets, toilets, missing trim work, and other potential DIY projects. Many of these amateur workmanship issues are not discovered until a home inspection is completed on the home.

 

Poor Overall Neighborhood Condition:
Your home ideal is not just created by your immediate home environment, but by the overall neighbourhood all around you, the views you wake up to, the sights and scenes you walk out from and back o night and day each day you live. That’s a lot for your psyche, your psychology, your networking, relationships you build, even for your well-being and state of mind. It’s important for buyers to remember that when they are purchasing a home, they are not only purchasing the specific lot it sits on and the property itself. When buying a home, they are also purchasing the neighborhood. A red flag that buyers need to look for when purchasing a home is a neighborhood that has an overall poor condition.

Buyers should look for things such as boarded up properties and a high number of vacant properties in the neighborhood. Choosing the right neighborhood to purchase a home in is not always easy, however, it is extremely important. Buying a home in a neighborhood that is decreasing or that has crime problems can be a costly mistake. Most buyers don’t think about how the neighborhood will impact the resale value of the home, since they don’t own the property yet. Buying a home in a neighborhood that is decreasing can create problems in the future, not necessarily in the immediate future.

 

Electrical System Issues:
Depending on the age of a home, it’s possible there are issues with the electrical systems, and these need to be viewed as a red flag for a buyer. Many older homes still have older electrical panels with fuses and even some homes still have knob and tube wiring, which can cause significant problems.

It’s understood most home buyers are not professional electricians, however, simple things such as turning on light switches, checking for flickering lights, and checking outlets are all good ways to tell if the electrical seems to be working properly. Most home inspectors will inspect the electrical panel and test the outlets to ensure the electrical systems are not a safety concern. Two of the most common home inspection findings are issues with the electrical raiser cable as well as improper wiring throughout a home.

Poor Drainage/Grading:
Water in a home is something that almost every home buyer will be terrified of. Most water problems in a home are directly related to poor drainage or grading.Poor drainage is something that isn’t always easily detected. An obvious sign of poor drainage is pooling water. If the yard of a home has mini lakes, it likely has poor drainage, which can lead to water problems inside the home. Other signs of poor drainage can include overflowing gutters, migrating mulch in the flower beds, and cracking in the foundation.

Proper grading can make a huge difference when it comes to water problems. It’s common sense that a negative grade resulting in standing water on the foundation can create water problems. It’s important that the overall grading is sloping away from the homes foundation and that water is being run-off away from the home’s foundation. A relatively easy and inexpensive way to keep water away from a home’s foundation is by installing gutter downspout extensions.

Pest/Insect Infestation:
Depending on the area of the home, there are certain pest and insects that buyers need to be on the lookout for. A severe pest problem should raise a red flag. Many pests, especially wood destroying pests, can cause damage to a home that can cost thousands of dollars to rectify. The most common pests that should raise red flags include rats, termites, powder post beetles, and carpenter ants.
Generally speaking, the cost of a pest inspection is fairly inexpensive. The cost of a pest inspection is absolutely worth it since a pest or insect problem can cost a significant amount of money to correct.

Odor:
It’s not uncommon that a home owner becomes immune to a foul odor. Foul odors are one of the easiest ways that a seller can kill a home sale. When looking at homes, pleasant odors and foul odors can both be red flags. It’s obvious that a foul odor is something that can scare away a potential buyer in less than a minute, but why is a pleasant odor a possible red flag? If a home has a plug-in air freshener in every outlet, a candle lit in every room, and air fresheners hanging in every room, it’s possible the home owner is attempting to cover up a foul odor. While this isn’t always the case, it’s always something that buyers need to be aware of when looking at homes.

If this scenario arises,or a foul stench permeates any part of or the entire home, it’s important to find out more and ask the home owner, and really look into this.

Mold:
Similar to water problems, mold problems should raise red flags when buying a home. Mold can lead to major health problems, especially for young children. Mold problems are not always easily discovered, however, if a home you look at has mold problems, you need to consider whether the home is the right fit or not. There are many considerations that need to be taken into account to help determine whether buying a home with mold is the correct decision or not.

Mold remediation can be completed on a home, however, it can be costly. Like many of these red flags, most home inspectors can help discover mold problems in a home. There are companies that can perform mold tests to determine whether for certain a home has mold or not.

The long-term investment in a home is one that’s worthy of the most consideration on all fronts. It’s important to keep things in proper perspective and be on the lookout for sign of things that don’t add up, when considering the purchase of a home.