4 Red Flags To Look Out For When Purchasing A Single Family Home
If you're like most people, purchasing a single family home isn't just to have a place to live, it is also a big financial investment. While house hunting, it can be easy to fall in love with a home, but it is also important to look out for red flags that pop up during the home inspection that may indicate that you should walk away if the seller doesn't want to make repairs. The last thing you want is to end up buying a house that turns into a money pit or has a lot of issues. Here are some common red flags to watch out for when buying a house.
Extremely Old Roof
When it comes to home repairs, having to completely replace a roof can be quite expensive. If the roof on the house you are interested in is a few decades old, as the seller about any maintenance that has been done. In the event that a home inspector has indicated that the old roof may be an issue, it is also a good idea to have it inspected by a licensed roofing contractor to see if it is damaged and to learn how much life it has left.
Wiring Not Up to Code
If the house you want to buy is a few decades old, the electrical wiring may be a problem if it has never been updated. Purchasing a home with old wiring and an outdated electrical panel can be a big risk-- not only can it be expensive to replace all of the wiring in a home, it can also be a fire hazard to live in the house before the wiring and electrical panel is upgraded and follows code.
Improvements and Additions Made without a Permit
In most places, building a fence, shed, or an addition to the house requires an inspection and a permit. If you discover that the house you want to buy has had substantial improvements that were not permitted or inspected, you may want to be concerned. Without a permit and proof of inspection, you will have no way of knowing if the construction was done properly and according to code.
One of the biggest concerns when buying a home with a basement is mold growth. If a basement is not properly waterproofed, it may flood, and that moisture can promote mold growth. If the basement smells musty, it may mean that mold is present. In addition, if a basement is not correctly waterproofed, you may have to worry about flooding in the future.
For assistance, have a real estate agent help you find a good home to purchase.