Buying a house is supposed to be a fun and exciting time. The only problem is that you have to make sure your excitement doesn’t make you stop from seeing any issues that a property may have. As much as you may feel that a certain property has stolen your heart, if it exhibits a number of red flags, you should leave it behind. Some of the things you should be aware of are below.
First and foremost, think hard before you buy a “fixer up.” Many people are interested in these properties because the price is so low. Often, we believe that the things that need fixing are things we can do with our own DIY skills. However, you are likely to find that only qualified professionals are able to actually fix the problems. Qualified professionals are incredibly expensive and you may not have sufficient budget for that. You should also be wary of properties that have had DIY fixes. A DIY job can look as if it was completed properly, but you can’t see inside the structures where it is likely that a lot of problems exist.
The second important thing is to look into whether the home you are considering is going through foreclosure or is in short sale. Indeed, these properties tend to be the cheapest, but that is because they often require a lot of work or because the entire neighborhood is declining.
At the end of the day, you should never purchase a property that you haven’t had inspected professionally. However, the hints and tips above should tell you whether or not it is worth investing in an inspection at all. If there are any existing problems, you may want to consider not buying the property at all, or asking for a very significant discount as you will have to invest in the repairs sooner or later. Also, always trust the advice of home inspectors. They are there to make sure you don’t buy something that isn’t worth your while.