Home Warning Signs
Buying a new home can be exciting. It can get so fun that home buyers (especially
first-timers) often overlook certain warning signs that cost them financially. Here are a few significant tips to avoid these red flags and what signs should you watch out for when buying a new home.
Foundation issues, wood or not, are a good example of what you might want to look out for. A recent post from Elika Real Estate explains why foundational problems are such a big deal:
Foundation Issues
When buying a new home, it’s easy to get caught up in the excitement of it and overlook some important things. The key is to minimize costs. If a homeowner can sell a home without spending thousands of dollars on repairs they probably will. After all, they want to make the most on their home investment as well.
The foundation is perhaps the most important component of a home. A problem with the foundation can cost thousands to correct the problem. When looking at a home be aware of the foundation. If it has a basement it’s very easy to check for cracks in the foundation. You can find other tell-tale signs by checking the doorframes throughout the house or apartment. If they don’t seem quite square or have difficulty closing it suggests problems with the structure.
Structural problems are common issues. If you don't feel confident with the house then it's best to have an
inspector look at it.
A home that has foundation issues is a huge red flag!
Next in our list of red flags is strange smells or odors. Smells are hard to erase after years of settling, so pay attention:
Strange Smells
Red flags to watch out for when buying a new home: When it comes to viewing the numerous Highland Park homes for sale in Los Angeles, it’s important you make the right choice. For example, one of the most common mistakes people make is going too fast through the escrow process. Only fools rush in, so it’s important that you take a deep breath and take the necessary time to look into making the best purchase.
When you turn up to tour the home, use your nose as much as your eyes and ears. Look for odd smells, or look for rooms with the windows wide open – particularly in winter. It usually shows they are trying to hide something they would rather hide or not discuss. Find out what it is first and foremost. Sometimes, it’s down to issues like this that the current owner can’t solve. Don’t let them pass that off to you! h/t silverlakeblog.com
A foul smell indicates that there is an issue with the house that the owner could be hiding. It's also a good idea to ask the owner, as they may be nose blind and unaware of the scent.
Lastly, location. Real estate is all about location, and even if you've found your ideal home, the neighbourhood is worth a think:
Neighboring Properties
Buying a home is an exciting time. It is hard not to get caught up in the hype and fall in love with every property you see. While your homebuyer may have found what they believe is a hidden gem of a property, there are some particular red flags that you, as their real estate agent, need to warn them about.
Whether it is the location of the property or the internal structure of the home that is cause for concern, if a red flag reveals itself to you, it’s a good idea to let your client down easy and warn them of the potential problems they may be getting themselves into.
The way the properties surrounding a home are maintained can affect the resale value. When you go to tour the home, check if the next-door neighbours have a dog that’s constantly barking, and is that something that bothers you? There are many things about the neighbourhood that you won’t be able to change, so be sure to observe the area as a whole. read more at forbes.com
When you're buying a home, take note that you're also buying into the neighbourhood, in a way. This is why due diligence is important.
When buying, keep your eyes peeled for warning signs, and tell your agent of any concerns you have. If you have a dependable buyer's agent, your chances of making a costly mistake are sharply reduced.