How to Avoid Buying a Money Pit

How To Avoid Buying A Money Pit

Many people think that serious defects in a home are easy to spot, but the truth is, often the most serious and costly problems can only be detected upon very close inspection. When you are considering buying a home, look for the following six telltale signs of serious problems:

1. Roof:

Leaks are the most common problem with roofs and are tough to detect from outside. However, from inside an attic, you can often see water marks where there is a leak.

2. Plumbing System:

Make sure you are confident that both water systems: the one that brings fresh water in and the one that takes sewage out are functioning well before signing on the dotted line.

3. Electrical Systems:

Before you agree to buy a home you should make sure that all of the appliances work. You will also want to check the fuse panel to make sure everything is connected properly and it is not overloaded. 

4. Heating and Cooling Systems:

Be sure to thoroughly inspect the heating and air conditioning systems in any home you are considering purchasing. Check the home's thermostat to make sure it is running properly as well.

5. Bad Paint and Signs of Rotting:

The paint inside and outside of the house can reveal a lot about the condition of the home. Look for cracks on walls and ceilings. Also, check for watermarks under where a bathroom may be.

6. Cracks and other Important Signs:

Cracks in walls, doors not closing properly and uneven floors can all be signs that there is a problem with the foundation. If the foundation is not strong, the entire house could collapse, so you should carefully check for these signs. A bad foundation may not mean imminent disaster, but it could be used to bargain for a lower sale price, or you could ask to have the owner repair it before the sale.