If you’re in the process of hunting for a new home, you will undoubtedly be hoping to stumble upon your dream home that is everything you’ve always wanted and available at a great price you can truly afford. But, no matter how tempting a particular property may be, if you notice any of these warning signs, you probably shouldn’t buy!
No inspection
If the seller of a property you are interested in will not allow you to have a home inspector come in and check the place out, this is the biggest red flag of them all and you should absolutely not consider buying the property unless they relent.
Think about it, why would they not want you to have the property inspected? It can only be because they know there are one or more serious issues that would put the average buyer off and you simply cannot take that risk unless you want to end up spending potentially thousands of dollars more to fix those problems. Avoid the money pit and look elsewhere. This goes for when the seller won’t let you look at just certain areas of the home too - this is more common than you might think and it is almost always because they know there is something lurking that will put you off.
There are lots of other properties for sale in the neighborhood
Another huge red flag that a lot of buyers miss is when there are lots of other properties on sale in the same neighborhood. Sure, it could be a coincidence that everyone decided to sell up at the exact same time, but it could also be that something is about to happen that will make their homes less desirable like a stinky factory being built nearby or a big employer set to close their doors and thus lower the employment prospects of the place considerably. So, it’s worth fully investigating what’s going on if you notice a lot of for sale signs in a cluster before you decide to buy.
Cracks in the exterior
If you notice cracks in the exterior brickwork of a property, it could indicate that there is a problem with the foundations, such as subsidence. If that is the case, the property will probably cost you a lot of time and money to fix, and it may end up being worth less than you paid for it in the very near future, which means you should probably give it a miss or at least have a home inspector come in to thoroughly assess the situation before you even think about the possibility of buying.
Numerous previous owners
Most of the time, it is possible to see an ownership history of the property you are thinking of buying. You should always look at this, and if you notice that the property has had a lot of owners, many of whom have moved in and out in a relatively short space of time, it could be an indicator that something isn’t right. It could be that the neighbors from hell live next door, the home has some hidden problems that make living there miserable, the traffic is too loud, or a million other things that make it difficult to enjoy the home. Investigate thoroughly before buying.
Mold
Although mold is not always a huge problem, if you notice there is a lot of it in the home, especially if there have been attempts to paint over it, you should think very carefully and investigate thoroughly before buying because it could just be a minor issue or it could be a sign that the property has significant issues with damp, poor pipework or warped sheetrock, for example.
Damp homes are unpleasant to live in and they can cause various health issues too, so the last thing you want is to be stuck in such a home and damp is your warning sign to tread very carefully.
Bad smells
Bad smells can indicate various issues from damp to pear invasions, so they should be fully explored before you deduce to buy, Oh, and if you notice a lot of air fresheners and other attempts to hide smells, then you really do need to take that as a warning sign for investigation because the homeowners may be trying to hide a particularly bad smell from you.
Although these are all warning signs you need to be aware of, as long as you fully investigate them, you should be okay when it comes to buying your next suitable home.
It’ll Need Lots Of Repairs
Quite a few people focus on buying a fixer-upper. That can be recommended for multiple reasons.
With these, you’ll expect to save a significant amount of money on the purchase price. You’ll end up spending most of this on renovation costs. A home that needs quite a few repairs can be different to this. These will often be relatively complete houses that simply have a few broken bits and pieces.A property with several small repairs, such as something that affordable roofing services can fix, could be a recommended option.
There comes a point where you’ll need to think twice about buying the property, however. If it requires too many repairs, then it mightn’t be worth it. If you don’t want a fixer-upper, then you shouldn’t have to settle for one. You’ll need to know how much maintenance you’ll tolerate with a property. Should it need too much, it mightn’t be worth it. That’s especially the case if the cost of the repairs will be more than any savings you might see from buying something slightly run down.
Knowing when to say ‘no’ is vital for this. Striking a careful balance between price and condition will be a priority here. In many cases, you might want to consider stretching your budget. Even adding a few thousand onto your price could mean finding a property in a much better condition.
That could save you much more on repairs and ongoing maintenance. Who wouldn't want to take advantage of that?
