Buying a house is supposed to be a fun and exciting time. The problem, however, is that because we want to buy a home so badly, we sometimes don’t see the flaws the property has. Although we do sometimes fall in love with a property, we should never purchase it without running a few necessary checks. Let’s review a number of these red flags.
First and foremost, think hard before you buy a “fixer up.” These properties are often very cheap, which makes them very attractive. Most of us think that the things that do need to get fixed up are things we can mostly do ourselves. In reality, however, they are often things that must be done by qualified professionals. Qualified professionals are incredibly expensive and you may not have sufficient budget for that. You should also be wary of properties that have had DIY fixes. Although a DIY job can look great on the surface, it is likely that it actually has a whole lot of problems.
Next, make sure you know if the property has been foreclosed on or is going through a short sale. Of course, these properties are the cheapest, but they are also often in a bad condition and could be a sign of the community.
The bottom line is that you should never purchase a property without having it professionally inspected. The information above, therefore, is not designed to help you decide whether or not you want to buy, but rather whether or not you want to have it inspected. If any problems are present, you can choose to walk away from the property, or you can request a huge discount on the purchase price so you can arrange the necessary repairs. Do also make sure you listen to professional inspectors’ advice. Their goal is to make sure you get a good deal on a property.