Home buyers generally look at a fair amount of homes in the process of finding their dream home. It would be impossible, if not very expensive to have all potential properties professionally inspected prior to putting in an offer to purchase. This means home buyers need to leverage the experience of their real estate agent to help complete an initial property condition review for themselves prior to making an offer to purchase. Here are the top issues to look for when considering a property.
1. Neighborhood - The value of a home is measured by more the just the assets of the property. A large-scale departure of residents could point to a number of serious problems. Environmental issues, crime or an exceptionally low rate of employment can lead to a distressed neighborhood. An excess number of homes for sale as well as businesses sitting vacant or closing can be indicators of a problem. If a home interests you but the neighborhood leaves you wanting more information start by talking to neighbors. An internet search for neighborhood statistics can be helpful as well. Your agent can also supply you invaluable neighborhood statistics.
2. Poor home maintenance - A home that seems as though it has not been properly maintained most likely has more issues than are visible. Here are some examples:
- Overgrown lawns with weeds
- Gutters with weeds growing
- Cracked, peeling or dirty painted surfaces
- Crumbling masonry
- Fixtures and appliances not functioning
3. Foundation Cracks - Examine the foundation from both outside and inside. While looking at the house outside make sure the yard isn’t graded toward the house, it could cause water to run down the foundation walls into the basement. Foundation repairs are costly. From the inside examine the foundation for damage. Look for horizontal cracks or any cracks bigger than one-third of an inch, which could mean serious structural problems.
4. Bad or Strange Odors - Pay attention to smells both inside and outside of the home. Cigarette smoke, pet odors and mold can be difficult to remediate. If the first thing you smell is cleaning products (especially bleach) or deodorizers, the seller may be trying to hide an undesirable smell
5. Faulty or Old Wiring - Check to make sure all the switches and outlets in the house function properly. Flickering lights, circuits that don't work and warm or hot outlets or faceplates are all symptoms of wiring problems. Today's appliances and electronics may exceed the capacity of homes built as little as 10 years ago
6. Fresh Paint on One Wall - While fresh paint is an improvement most of the time, it can also hide bigger problems, like water damage, mildew or mold. Painting just one surface of a room could be an indicator of a hidden problem. If the room smells strange or if you see stains or saggy walls or ceilings, have an inspector look for mold and leaks.
7. Locked Doors - Areas that are "off limits" during your home tour can be a bad sign. The seller could possible be hiding an issue. Be sure to tour the entire house.
8. Foggy or Non-functioning Windows - Check for water in between double-paned windows and make sure all the windows are functional.
9. Structural Walls Have Been Removed - With the popularity of open floor plans in recent years many older homes have been renovated. If they removed a load-bearing wall without adjusting the framing, it can shift weight to other parts of the house. Hire a structural engineer if you think any renovations are questionable.
10. Pests - Be on the lookout for unwelcome creatures as you look through the house. Evidence of mice, Asian beetles, or even bees could be a problem.
If you are thinking of buying, and want to work with professionals who know your market give us a call at 612-656-9647 or click here to schedule a Free Buyer Consultation.