Personal Finance: 6 Warning Signs to Watch Out for When Buying a House

Buying a house is always an exciting venture, but don’t be too quick to fall in love with the beautiful yard or open-concept design. Pay attention to certain signals to ensure you’re buying a gem and not a trap.

There are various signs that should make you cautious, and some signals may even indicate that you should not buy the house at all. So, what are these signs and should you proceed with purchasing this house?

Pay attention to areas with poor craftsmanship, especially if you know the house has been renovated. Newly laid tiles are a common giveaway for issues. Check if the tiles are laid evenly and if there are any gaps. If the tiling is done poorly, you may end up having to redo it, costing you more money.

Look for areas that appear unprofessionally done. Most renovators prioritize speed over quality. If the work looks rushed or incomplete, that’s a red flag.

Many places may show signs of quick patch-ups:

– Plumbing work
– Carpentry work
– Electrical work

Listen for sounds around the pipes, check for missing decorations or uneven flooring. Look for missing outlet covers, countertop corners, and vent covers. Amateur repairs often overlook these details.

Upon entering, if you smell a strong scent of air freshener, it could be masking something unpleasant.

Mold and pet urine can emit foul odors, and many homeowners use air fresheners to conceal these smells.

If you are interested in the house, you can request the real estate agent or homeowner not to use air fresheners before your next visit.

Inspect the carpets closely, have a home inspector check for mold.

If there is a large number of homes for sale in the community, thoroughly examine it. How many homes have been sold or listed for sale in the past 90 days? Look out for:

– Vacant lots
– For sale signs
– Foreclosure/short sale listings
– Number of rental properties

These could be signs of underperformance or stagnant growth.

Visit the community at different times during the day and night. Pay attention to foot traffic. Note any noise or potential issues.

Understand the amenities and local schools in the area. Check online databases to see the prevalence of sex offenders and crime rates.

Most sellers will repaint the house before listing it. If only a small area has been repainted, it could be hiding a problem.

If you notice one wall of the basement has been painted, it’s a risky signal. Check the foundation inside for signs of repairs and painting.

These are all potential signs of underlying issues.

While touring the house, look up. Are there sagging ceilings or small water bubbles? Sagging ceilings could indicate foundation or structural issues.

They could also mean there’s a leak above the ceiling. Leaks can soften the wood, causing beams to warp.

If doors can’t close properly, it indicates the door frame has shifted. In other words, the door no longer fits the frame. You may need to trim a small section from the top or bottom of the door to close it properly.

Doors not closing properly are usually caused by:

– Foundation issues
– Poor construction
– Weather effects
– Other reasons

When touring the house, if most doors are left open, ensure to close each one to check proper closure.

You might notice the edges of the doors have been trimmed. This means the homeowner has addressed this issue. Remember, problems won’t disappear on their own. Determine if it’s a fixable issue or one you can accept.

Condensation or fog on windows is a major warning sign. This often indicates seal failure. If you see condensation on many windows, it’s particularly concerning.

This means your house may be losing heated or cooled air through the HVAC system. It will increase your utility bills. Sliding windows often face this issue.

Nevertheless, you might be able to negotiate a lower price with the homeowner to replace the windows.

Despite a house looking great, red flags should make you think twice before purchasing. Don’t just focus on the decorations; pay attention to potential minor issues.

Before signing a purchase contract, have a professional inspector inspect the new home. Typically, mortgage lenders also require this.

Don’t solely rely on the inspector. Yes, they’ll conduct a more thorough inspection than you would, but you should also inform them of any concerns you have.