Buying a new home is a serious decision and one should pay a lot of attention when choosing their new property. If you don’t take it seriously, you may end up in a home with a lot of grave and expensive problems.
Problems with the Foundation
There is an easy way to check whether the foundation is in order – you just need an ordinary marble. Drop it on the floor, if it doesn’t go far (quickly), this means you will have to deal with sagging floor meaning an expensive foundation fixing on the horizon. Slopping floors means likewise. Have in mind that cracks in the foundation may both mean serious or insignificant problem. If there is water where there shouldn’t be – this is a serious problem. Mold and rotting can decrease the market value significantly and any leaks can cause them, so make sure you check thoroughly for them. If you spot black mold, this may be a serious problem, as it is dangerous for your health.
Geological Problems
Have in mind that the soil and the relief is also important if you plan to live somewhere for a long time. A house built on a slope can also mean problems in the future – mainly rooting from moving earth layers.
Drywall Problems
Check for bad drywall and avoid homes with such a problem. There is the bad scent, but also problems with copper wiring and plumbing, which leads to appliances failures. Here is a hint – most of the problematic homes can be found in the Southeastern United States and their remodeling has taken place in 2001-2009.
Problems with the Siding
People in the 1980s – 1990s found it hard to deal with low-quality siding as it is likely to retain water and cause rotting or mold. Have in mind that the earlier version of the sidings – synthetic stucco – was a popular lawsuit cause, too. In short, avoid the above-mentioned sidings for a seamless home life.
Problems with the neighbors and neighborhoods
Often you cannot find out a lot about your neighbor before you settle in, but if there is any way to get information about them – try. Neighbors cannot be fixed – you will have to deal with them if they are problematic. There are various stats that calculate the actual drop of market value of your home. The neighborhood can also be problematic – a lot of people are prejudiced about the so-called ‘bad neighborhoods’ or if, for example, the property is near a cemetery. Traffic or busy business areas and streets may also be considered negative points.
Other Problems
There are a lot of other problems – expected or not – that may arise. For example, various projects, repairs, remodeling, improvements, funding or financing can cause serious expenses. There are homes that are really hard to insure – homes in bad or dangerous areas with a high rate of floods, hurricanes, etc. And of course, even though the home is really good and you like it, it may be hard to finance it. If you cannot afford it, better do not risk – you may go in very serious complications. The best way to find out if a home is financially appropriate for you is to check with your financial adviser.