When someone tries to sell their home, they do not always tell the whole truth. Although a professional inspector would pick up on any problem, it is expensive to hire one for each viewing. Thus, here are a few things that you can spot yourself, telling you to avoid the purchase.
First and foremost, think hard before you buy a “fixer up.” It is certainly true that these properties seem very interesting because they are so affordable. Most of us think that the things that do need to get fixed up are things we can mostly do ourselves. The truth is that most of these things can only be fixed by qualified professionals. The fees of these professionals may be much higher than you had expected. Next, properties that have had DIY repairs can also be a red flag. People may have done a really good job, at least cosmetically, but the reality is that it may be saddled with problems.
You are now ready to see whether the property was looked after properly. Signs of regular maintenance are hugely important. If you find that the owners haven’t look after the outside properly, the inside is likely to be the same. Make sure to inspect the wiring. Although you probably won’t be able to identify all of the problems yourself, some red flags are easy to spot. Flickering lights and hot outlets are major red flags. Similarly, if you notice that there is a single wall, or just a few walls that have been painted very recently, where others haven’t, the owners may be hiding something. Next, look closely at the windows. If a window is condensed or moldy, or it opens with difficulty, that may be a sign of very expensive problems.Naturally, never view a property that you are not allowed to see in full. If there have been any structural changes to the original property, you need to check whether these were done in accordance with various building regulations.
At the end of the day, you are the only one who an decide whether you will buy a property or not. Nevertheless, due diligence should always be exerted. Never purchase a property that you haven’t had professionally inspected. If an inspector does find significant issues, you can decide whether you want to leave the property behind, or whether you want to bargain and bring the price down substantially. However, always be careful that you do not get tied into a money pit.