Buying a Home: Don’t Forget To Look For These Warning Signs
April 7, 2021
“Caution is the eldest child of wisdom.” – Victor Hugo
Not taking precautions when buying the home of dreams can easily turn into a house of horrors. So, what can you do to avoid this from happening?
The answer is simple – look for the warning signs that point towards it not being a worthy buy. To help you, we have prepared a list of the major red flags to look for when buying a home. Let’s take a look at them:
1) Electric Panel
A messy electric panel could be the first potential sign of poor workmanship on a property. It can lead to potential hazards in the future. While you will, of course, have a home inspector inspect the home, it is always a good idea to take a peek at everything yourself.
A neat and organized electrical panel with color-coded wires and labeled clearly is a sign of good workmanship, something that you should always look for.
2) Exterior Defects
A rustic exterior is a warning sign that there may be something wrong with the property. Don’t get distracted by the internal beauty. If there are even minor cracks on the exterior of the home, you need to give a second thought to buying the home.
A pro tip that we would like to share here with you is to check for paint mismatch. There will be sellers who will try to paint the cracks in order to hide them, so you have to be really mindful while checking the exterior of the home.
3) Water Damage
Another warning sign that you cannot afford to ignore when buying a home is its plumbing. Don’t forget that the plumbing system is the gut of the home. Slight damage to the plumbing system could mean thousands of dollars in repairs.
So, be sure to check for early signs of water damage. This includes looking for water stains, mildew, sagging floors, and so on. In fact, smart sellers would try to hide the smell of mold or damage sewage by spraying excessive room fresheners – be wary of such signs.
Another piece of information that you need to have before you buy any home is its history. This includes records of renovation, plumbing repair, and so on. It is also vital for you to know why the renovation or repair work had to be carried out in the first place.
You would also want to know whether the kind of work that was carried out was done by a licensed contractor or not. Knowing all this is important as it will indicate the quality of work done on the home.
5) Neighborhood Sale
One of the things that you must not ignore during your search is the ‘For Sale’ signs in the neighborhood where you are searching for a home. Too many listings in the neighborhood should set off an alarm.
Take a look around the neighborhood. Are many people selling their homes in the area? Is there any specific reason? This could mean that there is something important about the area that you should know before buying a home in the neighborhood. For instance, there could be an easement or a social/economic upheaval in the neighborhood that’s causing people to sell. You would certainly not want to buy a home in that neighborhood in such a case.
6) HVAC System
HVAC stands for Heating, Ventilation, and Air Conditioning. You need to have a careful look at the HVAC system before you think of buying the home.
Get a thorough assessment of the HVAC system, how old is it, when it was last service and any signs of wear and tear. Also, get to know whether the system is a branded one or a generic one. All this information will give you a better picture of the quality of the home you are planning to buy.
7) Is The Owner Trying To Hide Something
Most important of all, you need to figure out whether the homeowner is trying to hide anything. This could be information about the property such as any drainage disruptions, a haunted past, aging mechanical system, pest problems, and so on. In some instances, if the seller has something to hide, they may ask to waive the inspection contingency by offering you an incentive like taking care of any repairs themselves or maybe bargaining on the home price.
All these are clear signs that there is something wrong with the property.
Summing it up
There you have it – seven clear warning signs that you can use as a checklist before buying a home. If a home fails to tick even one of the boxes on this list, you should not move forward with buying it. On the other hand, if it does not show any such warning signs, that means the property is worth your time, money, and effort.
You can either choose to perform all the steps mentioned above on your own, or save yourself from all the hassle by getting in touch with a Negotiator Recognized Partner, who can make the process easy for you!