Red Flags House Buying – A home is one of the most important purchases of your life and you will definitely not want to be cheated for your money on this particular transaction. A wrong move here can have you regretting our decision for a long time to come. Therefore, below we have put together a list of red flags that you must look out for when going house hunting.
Signs of Water Damage
Houses with water damage are to be avoided like plague. Water damage can be the worst nightmare for a house as it can manifest itself in a number of ways. Start with the roof and inspect it closely for any sign of water damage. Next, inspect the flashing on the exterior of the house. The job of the flashing (a thin waterproof layer) is to keep the water out. It is found around the chimneys, deck, and the windows.
Also, check the basement and ceilings for any glaring signs of water damage.
A moldy smell is another red flag. Mold may not be visible to the naked eye, but the smell will give it away. So, keep all your faculties engaged when looking for signs of water damage.
Furthermore, if the basement has been freshly painted, this could be to cover the obvious signs of years of water dripping or a full-scale basement flooding in the past.
When you’re out house hunting, do consider the surroundings of the house as well. Is the area well maintained? A neighborhood with a neglected outlook is a red flag. Also, if there are a lot of houses up for sale in the area, it means people are frequently leaving the area and not many are willing to buy a house in the neighborhood. This could be a red flag as well.
Furthermore, a bad neighborhood depreciates the value of your property, so generally, it is better to go for areas with a good rapport. Consider the crime rates, property value trends, and local economic factors, as well as school ratings to judge the area when you go house hunting.
Make sure you check the wirings and the electrical system. This is especially true if it was built between the 1970s and 1990s. An easy way to do so is to check the electric panel straight up. If it says FPE on the box outside or has a red strip over the breaker amperage, it will need to be replaced. This could cost about $1000 for each panel. A high percentage of these have aluminum wiring that is a lot more likely to overheat and cause fire hazards. These panel boxes are outdated and will have to be replaced anyway as mandated by insurance companies.
The house buying process is fraught with potential wrong decisions so you must look out for red flags. Mentioned above are some of the most important red flags to look for when house hunting. If you’re looking to buy a house anywhere in Orlando, Florida, you can acquire our dedicated services to make the process seamless for yourself.