Purchasing a new home can be a long, arduous, and exhausting journey. The seemingly endless parade of homes that fit the bill on paper but fall short in real life can lead to frustration. This, the rising cost of homes, and rising number of buyers, may make you feel pressured to snatch up the first house that even remotely fits your needs.
But before you plunk down that hefty deposit, make sure you aren’t ignoring these warning signs. Yes, these signs point to a house that’s not worth the hassle – or the added cost.
Foundation Problems
Make sure you inspect, or better still, have a professional get in the basement and inspect the foundation. A faulty foundation can not only cost lots of money to repair to prevent any further issues, but you can also plan on forking out plenty of dough to repair any damage that was already caused. A bad foundation is probably a leaking foundation which means water damage and mold.
Mold can lead to serious health issues and should be removed prior to residing in a property. According to homeadvisor.com, the cost for mold remediation averages between $1,000 to $3,000 with severe cases costing over $5,000. If you are aware of cracks in the foundation and decide to proceed with the purchase, you need to consider investing in Certified Material Testing Products.
Old Or Damaged Roof
According to the 2016 Cost Vs. Value Remodeling Report, a midrange roofing replacement costs $26,306. A good roof can last a home for up to thirty years, but keep in mind high winds and damaging hail can shave years off a good roof. Once the lifetime of a roof has been met, damage to the interior of the house can happen fast, and can result in costly repairs. Be prepared to make a hefty investment if the roof is in disrepair.
Old or Faulty Wiring
You may think you are getting quite the deal on an older home, but be sure you have an electrical inspection completed. Some older homes need to be completely rewired for newer appliances. Not only is this a costly affair, it’s a messy one as well. You can definitely save a lot of money by choosing to invest in a house that doesn’t need new wiring.
Zoning Regulations
Finally found what will be your dream home after a few tweaks here and a couple of expansions there? Before you start knocking down walls and adding square footage to that deck, make sure you check with the local zoning regulations as well as the neighborhood restrictions. If you are set on adding on an addition, you may be setting yourself up for disappointment if you haven’t verified your wish list through the local zoning board. Do not take the owner’s word for it, they may not have all the facts.
The very best way to avoid missing any of these, and several other, warning signs is to invest in a certified home inspection. Talk to a First Team real estate agent about your real estate goals and any questions you have about the buying process.
Email us at clientservices@firstteam.com
Call us at 888-870-1142
This guest post is written by Kara Masterson, a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max.
