A home purchase is both exciting and fun. Unfortunately, because of all that excitement, we can be blindsided at times and purchase something that isn’t worth our money. Although we do sometimes fall in love with a property, we should never purchase it without running a few necessary checks. Some of the things you should be aware of are below.
First of all, check the neighborhood. It cannot be underestimated how important it is to check on this. Find out whether the community is going through growth, or whether it is declining. Signs of decline include numerous boarded up businesses and foreclosed homes. Make sure you visit the area on two different occasions. This will also give you an idea of what traffic is like at different points. Purposely visit the neighborhood once at night, just to get a feel for what the streets are like at that particular time. Additionally, make sure the police provide you with a crime report on the area.
You are now ready to see whether the property was looked after properly. Check the property for maintenance as well. A home that is run down on the outside will probably be in a similar state on the inside. Also, look at the wiring. Only a qualified electrician can identify real problems, but you can have a general look. For instance, flickering lights and hot or warm outlets are signs of a bigger problem. If you notice that only a few of the walls have been painted recently, it is possible that the owners are trying to hide something. Check the windows. If a window is condensed or moldy, or it opens with difficulty, that may be a sign of very expensive problems.It goes without saying that if there are any rooms that the sellers don’t want you to see, you should avoid the property completely. If there have been any structural changes to the original property, you need to check whether these were done in accordance with various building regulations.
After all is said and done, only you can truly decide whether or not you want to purchase a home. However, make sure you exert due diligence at all times. You should never purchase a property that you didn’t have reviewed by a professional inspector. If any issues are found, it is up to you to decide whether you then want to step away from the property, or whether you want to use it as a bargaining tool to bring down the price. However, you do have to make sure that you don’t purchase a true money pit.