Many of us see the first few months of the year as a fresh start, so it’s a popular time for potential buyers to start their house hunt. While there are undoubtedly plenty of things on your new home wish list, there should be almost as many things you don’t want to see.
If you’re house hunting this spring, be sure to keep an eye out for these important red flags when buying a home.
1. Structural Problems
The foundation of a home is important, but it often gets overlooked because it’s not typically seen. While minor cracking is fairly common and may only be a sign of settling, large cracks can be a sign of more serious structural problems, which can cost you thousands of dollars to repair.
Other signs that more dramatic changes are taking place include:
- Doors that won’t latch
- Large cracks in walls, especially over doorways, windows or where walls meet ceilings
- Cracks in the floors
- Windows that won’t close completely
2. Bad Odors
A constant foul smell in a house can be a sign of anything from mold to issues with the plumbing or drains. Chances are that you will notice a bad smell within seconds of entering a property, but also keep an eye out for signs that the current owner may be trying to mask an odor problem.
3. Electrical Issues
Potential electrical faults should be taken very seriously because they can cause serious safety issues. There are some simple ways to check for faulty wiring like turning on light switches, checking for flickering lights and ensuring outlets are in good working order.
4. Water Damage
You can check for water damage in the form of stains, bubbles or spots. Water stains on a home's exterior look like bubbles underneath the surface and may indicate that the vinyl siding needs replacing or hasn’t been properly sealed. Water stains on drywall inside are also a good indication that there may be a leaky roof or pipes — both of which can be expensive to repair.
5. Pests
Termites, mice, roaches and other pests can all be a huge problem – from infestations to damaging the entire structural integrity of a home.
Check for signs of pest damage in various surfaces including walls, floors and ceilings. Some of the signs you may encounter when looking for them include:
- Discolored or bubbled paint or wood
- Mud tubes, which look like hollow tubes underneath wood or paint layers
- Discarded insect wings, which could belong to young termites or other insects
- Insect or rodent waste
Bottom Line
I always recommend getting an inspection done before buying a home. Inspections can be pricey, but they’re worth every penny. Skipping a home inspection is not a good way to cut homebuying costs, you may end up paying more in the long run when issues arise.
If saving money is on your mind, let’s talk about your interest rate or other mortgage programs that can help cut real costs. It doesn’t cost anything to chat and, at OMB, pre-qualifying for your home loan is always free. Apply for a mortgage at OMB here!
OMB and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decision.
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