It cannot be denied that mortgage interest rates are very low at present. Additionally, home prices are still low as well. However, don’t let this lead you into believing that any home purchase is a good one. The buyers currently hold all the cards. However, you must make sure that you make careful considerations before you buy. There are a some red flags that you need to be aware of that could tell you that a purchase may not be the best way forward. Some of these are fixable, others tell you to look elsewhere. Two things are of true vital importance, however.
First of all, check the neighborhood. Very few things are more important than this. Find out whether the community is going through growth, or whether it is declining. If there are many foreclosed homes and businesses, the community is going through tough times. Experts say that it is best to visit the same neighborhood at different times and on different days. This will also give you an idea of what traffic is like at different points. Do also come at least once at night, so you can see whether the streets are safe and quiet at night or not. Additionally, make sure the police provide you with a crime report on the area.
Now, you need to see how the property was looked after. You should be able to tell whether it was maintained regularly. If you find that the owners haven’t look after the outside properly, the inside is likely to be the same. Make sure to inspect the wiring. Real issues can only be identified by a qualified professional, but you can get a good idea yourself. For instance, flickering lights and hot or warm outlets are signs of a bigger problem. Check whether it looks like some of the walls have been repainted recently, which could be a sign of them trying to hide something. Check the windows. Windows that have mold or condensation or that open with difficulty may be signs of very expensive problems.If an owner declares certain rooms as “off limit”, then go find a different home to buy. 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.
Basically, you should not purchase a property that has not gone through a professional inspection. However, the hints and tips above should tell you whether or not it is worth investing in an inspection at all. 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. The goal of professional home inspectors is to make sure that you can truly get your dream home, and not some sort of money pit disaster.