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February 2019

Buying a House? Watch Out For These 7 Red Flags

Buying a House

Are you ready to buy a house? Good idea! Being a homeowner comes with a whole load responsibility, but one can’t deny it has its incredible benefits.

But before you can enjoy the perks that come with being a homeowner, you’ll most likely need the help a Mortgage Lender Laredo to finance your home purchase. Once your lender approves the loan, you can finally search for houses that meet your criteria, fits in your budget and one that’s ideal for your lifestyle.

When searching for your future home, it’s important to pay attention and look for warning signs that will tell you of the potential problems you can experience when you finally sign the papers. Here are the things you need to watch out for when buying a house.

Crazy Price Drop

Lots of homeowners drop the price of their house for sale at least once a month for up to $10,000. If you find one that listed their home for a crazy price drop, make sure to do your investigation as to what prompted them to make the dramatic price change.

Location Challenges

Location is an important factor when buying your future home. You don’t only want to live in a house that’s ideal for you and your family, but one that is in a safe neighborhood and is convenient for your lifestyle. If you want to make the best out of your investment, go for homes that are away from busy streets and one that is not in a lousy neighborhood for this can be a hindrance in appreciating the home value and when selling your home.

Good Read: Why Location Matters in Real Estate

Bad Smells

While on a house tour, take note of any bad smells you may encounter. It can pose as a red flag as it can mean there is an underlying problem within that house – which is mostly caused by water damage, mold and mildew, and even full repainting. While a newly painted home is not bad, most paint jobs done before selling a house can only mean two things – a recent home improvement project, or a way to cover up major damages.

Inadequate Ventilation

Without adequate ventilation, any moisture inside your house cannot evaporate – leading to damaged interiors. Poor ventilation can also cause health consequences such as headaches, fatigue, eye irritation and respiratory distress – things you won’t want to experience while living on your new home.

Poor Drainage

When you find inadequate drainage around the exteriors of a house, this can mean water can crawl inside the home through garages and basements. You can end up paying for hundreds of dollars to repair an old problem that the previous homeowners should have addressed before selling.

Plumbing Issues And Water Damage

Water damage can be you and your wallet’s worst nightmare. While one can prevent this through routine repair and proper maintenance, buying a house with signs of water damage is a costly risk. Make sure to check for signs of plumbing issues and water damage from the top down such as drippy plumbing, moldy smell, and roof or ceiling damage.

Crumbling Foundation

The structure of a house is an essential factor that tells you whether or not it is worth the money. A house with a weak foundation is a safety risk, so make sure to watch out for signs of a weak and crumbling foundation before saying yes.

Good Read: Signs of Foundation Problems: Should You Fix Them, or Run?