Personal Finance: 6 Warning Signs to Watch Out for When Buying a House

Buying a house is always an exciting prospect, but don’t rush to fall in love with the beautiful backyard or open floor plan. You need to pay attention to some signals to ensure you’re buying a gem of a property and not a trap.

There are many signs that will alert you to be cautious, and some may even tell you not to buy that house. So, what are these signals and should you buy this house?

Pay attention to poorly done work, especially if you know the house has been renovated. Issues are most easily spotted in newly laid tiles. Check if the tiles are level or if there are gaps. If the tiling is poorly done, you may end up having to spend money to redo it.

Look for areas that appear unprofessionally done. Most renovators prioritize speed over quality. If the work looks rushed or incomplete, chances are it is.

Many places may show signs of quick repairs:

– Plumbing work
– Carpentry work
– Electrical work

Listen for sounds around pipes, check for missing decorations or uneven flooring. Look for missing outlet covers, corners of countertops, and vent covers. Amateur repairs often overlook these details.

As soon as you enter, you’re hit with a strong smell of air freshener. This could be masking something.

Mold and pet urine emit unpleasant odors, and many homeowners use air fresheners to cover them up.

If you’re interested in the house, ask the real estate agent or owner not to use air fresheners before your next visit.

Carefully inspect the carpets and have a home inspector check for mold.

If this community is experiencing a large number of properties for sale, be sure to thoroughly examine it. How many homes have been for sale or sold within the past 90 days? You need to look at:

– Abandoned lots
– For sale signs
– Foreclosure properties
– Number of rental properties

These could be signs of poor performance or stagnant growth.

Visit the community at different times during the day and night. Pay attention to factors like foot traffic and noise levels.

Understand the amenities and local schools in the area. Make sure to check online databases for information about the presence of sex offenders and crime rates.

Most sellers tend to give the house a fresh coat of paint. But if only a small area has been painted, this could be masking an issue.

If you see one side of the basement wall painted, it’s also a red flag. Check the foundation inside for signs of repairs and painting.

These are all signs that there may be underlying issues.

When viewing the house, look up. Are the ceilings sagging or showing small water bubbles? Sagging ceilings could indicate foundation or structural problems.

They could also signal a leak above the ceiling. Leaks can soften wood, leading to beam bending.

If doors cannot close properly, it indicates structural movement in the door frame. In other words, the door no longer fits the frame. It may require shaving off a small part of the door at the top or bottom to close properly.

Doors not closing could be caused by:

– Foundation issues
– Improper construction
– Weather effects
– Other reasons

If most doors are left open during the house tour, make sure to close each one to ensure they seal properly.

You might notice that the edges of doors have been shaved off. This implies that the homeowner has addressed this issue. Remember, problems don’t resolve themselves. You need to determine if it’s a problem you can fix or accept.

Condensation or fog on windows is a major warning sign. It often indicates seal failure. If you see condensation on multiple windows, it’s particularly concerning.

This means your house may be losing heated or cooled air through the HVAC system. This will increase your utility bills. Sliding windows often encounter this issue.

However, you may negotiate with the homeowner to lower the price for window replacement.

Despite a house looking great, red flags should make you think twice before purchasing. Don’t just walk around admiring the decor; pay attention to potential underlying issues.

Before signing a home-buying contract, it’s crucial to have a professional inspector inspect the new home. Typically, mortgage lenders will also require this.

Don’t solely rely on inspectors. Yes, they may conduct a more thorough check than you, but you should also communicate any concerns you have with them.