Are you in the process of searching for a new home? If so, it’s important to keep a close eye out for issues that could require expensive repairs in the future. Some of these issues – like outdated electrical panels or cracks in the foundation—are pretty easy to spot if you know what to look for. Others, however, are more difficult to identify. In some cases, minor cosmetic defects can even be signs of serious structural or mechanical problems.
Water Pressure Issues
Low water pressure might seem like a trivial annoyance, but if the problem is widespread it could mean that the house is in need of a complete plumbing overhaul. Old houses with outdated galvanized steel pipes tend to have bad water pressure, for example. If you notice the faucets in a house are all running slow, be sure to ask about when the plumbing was last updated.
Wall and Ceiling Discoloration
Discoloration might just mean that a home hasn’t been repainted in a while, but it could also be a sign of past water damage. Be especially wary if you notice extensive discoloration on basement walls. Yellow spots on white walls and ceilings are also tell-tale signs of leaks. If you notice a musty odor in conjunction with the discoloration, there’s a good chance the home has mold and moisture issues.
Sagging, Sticking Doors
A single stuck door is probably nothing to worry about, but if all the doors in a home are sagging it could be a sign of an uneven foundation. Fixing an uneven foundation can be extremely costly, and foundation repairs can sometimes necessitate plumbing and electrical replacements as well. If you notice a number of stuck or sagging doors, check the foundation for cracks and other signs of damage.
Is there a noticeable dip or rise in the home’s flooring? Even if the change in elevation seems relatively minor, it could be a sign of a serious issue such as termite damage or a sagging foundation. If any of the flooring in a home appears uneven, you should have it inspected by a structural engineer before you consider making an offer.
Want to make sure the house you’re looking at isn’t going to wind up being a money pit? The team at First Choice Inspectors can conduct a thorough, professional home inspection to identify a variety of potential problems. Give us a call or contact us online to get your quote today!
Following the subprime mortgage crisis of 2007, home foreclosure rates increased dramatically across the country. Some savvy investors were able to capitalize on the huge foreclosure inventory by buying homes at a fraction of their market value. But for every success story you hear about someone getting a great deal on a foreclosure, you can find many more horror stories about people buying money pits that demand extensive renovations. Buying a foreclosed home can be a worthwhile investment, but only if you’re careful to buy the right home. You can start by making a realistic budget that includes more than just the purchase price.
Include renovations in your budget.
Don’t let the attractive sticker price fool you. Some foreclosures can cost tens or even hundreds of thousands of dollars to renovate. Before you start shopping around, determine how much you’re willing to spend on renovations and include that figure in your overall budget. You should also consider what types of renovations you’re willing to take on. You probably want to steer clear of homes with foundation issues or serious water damage, for example.
Consider how long it’s been vacant.
Homes can quickly fall into disrepair when they’re not occupied. Homes that sit vacant for months or years at a time are prone to pest infestations, plumbing issues, sewage backups and more. The exterior might look fine, but there may be serious problems hiding just beneath the surface. If a home has been vacant for more than a few months, approach with caution.
Find out if the home has been winterized.
This is especially important here in the Chicago area. When unoccupied homes aren’t properly winterized, sub-zero temperatures can cause pipes to freeze and burst. This, in turn, can cause costly water damage and contribute to the growth of mold and mildew. If the home you’re looking at has been vacant during the winter, make sure the utilities were effectively winterized to prevent this type of damage.
Invest in a home inspection.
You should get an inspection anytime you buy a home, but it’s especially important when you’re shopping for foreclosures. A comprehensive home inspection can identify serious structural and mechanical issues that might otherwise go unnoticed. It can also give you a better idea of just how much the home will cost to renovate. By spending a few hundred dollars on a home inspection now, you can save many thousands of dollars in repairs down the road.
At First Choice Inspectors, we offer inspections designed specifically for foreclosed homes. To learn more, feel free to give us a call or contact us online today.