Imagine walking through the home of your dreams: a bright kitchen with natural light, a spacious owner’s suite, and a backyard where your family can make memories. When you find a home that checks all the boxes during the walk-through, take a breath before making significant decisions. Unfortunately, a quick preview of a home doesn’t tell the whole story.
Some aspects of a home are too risky to overlook, even if you think you have found the perfect house. Take a look at the list we’ve compiled to learn more.
5 Things to Check to Avoid Investing in a Money Pit
As you learn about each prospective house that fits your criteria, be sure to ask critical questions regarding the condition of big money aspects of the house. You don’t want to close on a house anticipating $100,000 worth of repairs in the first few years.
Find out the condition of the following:
Windows: When you visit each house, look for signs of old windows. You may find the seam of the windows look bubbly and uneven. Maybe you see water damage around the windows or condensation accumulating inside. These are signs that the windows may need replacing soon.
Roof: When was the last time they replaced the roof? Most roofs have a warranty of 15-20 years. However, in areas that have extreme temperature changes or high winds, a roof may only last 10. Get an inspector to check out the roof for hail damage or any signs that it may need replacing soon.
Air Conditioning/HVAC Unit: HVAC systems can show signs of wear and tear after about 12 years. If your home has dual units, ask about each one and if there has been any maintenance work done to the HVAC units. If you learn about minor repairs each summer that are beyond regular upkeep, the a/c unit may be on its last lap.
Foundation: Watch for cracks in the wall or visible cracks in the cement outside of the home. You will find that the foundation is included in your home inspection. (Do not skip the inspection!) Pay special attention to what is recommended about the state of your home’s foundation.
Siding: The outside of the home is vital to curb appeal. But the damage to the decorative features may cause damage to your home as well. If you look at a house with peeled or warped siding, moisture could be getting inside the home. Look for gaps in the siding and take note of the high cost of repainting or re-siding your home if it comes to that.
When you are house shopping in an established neighborhood with high-quality schools and mature trees, you may not be able to find a home that has brand new windows, siding, and a roof. But you can give and take, saving up for a new air conditioning unit but breathe easy knowing the roof is new.
Selecting a trusted real estate professional to navigate the red flags and negotiation stages of buying a home is something you will never regret. Experienced professionals will suggest how to negotiate and will understand how to address these big-ticket items in varying market conditions. You will feel confident and relieved when you have an experienced team on your side.
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Questions about real estate?
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