There most definitely was/will be a time where you will want to buy a house. After all, it’s a part of the american dream to have a house for yourself. However, there are a lot of possible pitfalls one could fall down through when buying a house. Just like there are signs that a house is definitely the right one for you, so too are there signs that a property shouldn’t be touched with a 10-foot pole. Let’s look at some of the biggest red & green flags of house buying.
Green Flags
And let’s start out positive, shall we? Here are some of the best signs that a house is a possible must-have.
Fitting, but customisable
Probably the biggest thing to consider when buying a house is your current lifestyle. If you’re someone who requires a lot of workspace, then you shouldn’t buy a small lake-side cabin. Because of that, a house fitting your lifestyle is a massive green flag.
You also have to consider the possibility of your lifestyle changing, though. Maybe you’ll find a partner, whose style doesn’t fit what you established, or maybe you’ll just grow out of it. Because of that, you should also look if the house can be redecorated, or even fully redesigned. And if it can, then it’s basically a done deal.
Growing surroundings
Another big thing that you should always keep in your mind is the surroundings of your house. If the property is located in a community that is still growing, you should consider that a green flag. Mostly for two things – Firstly, it should mean that the price of the house is fairly low, and secondly, it should also mean that you could have very good access to many different services and commodities like malls, hospitals and even your possible job location.
It also means that your property will almost certainly grow in value, meaning that you will always be able to sell the house for a much better value than you bought it for.
Your agent knows the ins and outs
Another thing that can greatly sweeten the deal is your agent. If the person that wants to sell you the house can answer every question you have, that is a great sign that you are in trustworthy hands. Especially if they can also acknowledge the worse parts of the property, but still manage to persuade you to buy.A good agent is simply a way bigger factor than some people can realize.
Red flags
But every coin has two sides. Just as there are things that can almost seal a deal on their own, there also are things that can almost single-handly break it. A lot of these ‘deal-breakers’ depend on your personal preference, but let’s at least look at some of the really objective ones.
The price is too good
And a factor you can check even before you ever enter the house, is the price. Of course, it should be in your reasonable goal to look for the best price possible, but you should never just go for the cheapest option. Because if a house is going for even half of what one would expect, there’s probably a reason for that. And whatever it might be, it almost certainly isn’t good.
A low price basically indicates only one thing – the owner wants to get rid of it as fast as he can. And just take a few seconds to thing about why would that be.
Poorly installed windows
No, this isn’t talking about any computer issue. To put this simply, a windows main job is to isolate the outside elements from the interior. And if they fail to do this thing, it might really cost you. Especially in winter, where you could burn through your entire monthly income just trying to heat a place that is constantly loosing heat because of a bad window.
Nearby water
While it might be a really quaint to have a house near a lake or a river, it could also spell out a lot of trouble. Especially in American coastlines, there are a lot of risks when it comes to weather, in particular, rain. And even if your house is built to withstand even the worst of rainstorms, it’s an entirely different thing when it comes to flooding.
And while the chance of potential flooding might not be an issue to some people, it is still definitely something that you should look out for.
When you are buying the house, you should ask your real estate agent to find out if the property is in a FEMA flood zone. Because if it is, it might be a sign that you need to buy special flood insurance in addition to homeowners insurance.
Poor renovations and maintenance
Another thing that might not seem that important at first are poorly made renovation jobs. This could be anything from badly made tiling to incorrectly applied wall paint. And while these problems might not seem that bad, if you allow them to develop, they might require even more money to fix than you poured into the house already.
The same goes for badly managed maintenance. It might not seem that bad, until you have to replace the washing machine, including having to fully reinstall the plumbing to it. Also, if one appliance isn’t well maintained, chances are that the rest isn’t much better off.
Faulty water-works
Probably the worst in the ‘not that big of deal until it snaps’ type of problems is faulty water-work. It might even be impossible to notice that your inner pipes are faulty, until you start seeing water stains on your walls and ceiling.
The worst part about this is that it’s only a part of a much greater problem. Because a faulty pipe means an increased risk of mold, which could, if untreated, spiral into a life-threatening problem, whose only fix is to completely rebuild your house.
So, to put it simply, if you see a water stain on the ceiling, however small, you should definitely rethink your possible purchase.
