Red Flags to Consider When House Hunting
Even if you are planning on getting Santa Fe Home Insurance, it’s always advisable to inspect the house thoroughly before you close the deal. Here are some red flags to watch out for when looking for a new home:
Structural damage
Structural damage is a common issue with many homes. While some forms of damage are quite noticeable, some may be less apparent or even totally hidden from view.
A typical example is a sloping floor. If the floor has a severe slope, it could be a sign of problems with the foundation.
Other signs of structural damage include saggy ceilings, cracks in the foundation, and doors that don’t close properly.
Structural damage can severely affect the value of a home. Unfortunately, fixing these problems can also be prohibitively expensive. Moreover, these issues can cause injury or even put your family’s life at risk.
This is why it is so important to check the house thoroughly to ensure that there aren’t problems that could worsen in the future. If you don’t have any experience assessing homes for damage, you should consider having a structural engineer evaluate the property for you.
Improper maintenance
Mold, water stains, and insect infestation are all signs of poorly maintained property. The presence of mold is especially alarming, as it can cause severe allergies and even serious illness after prolonged exposure.
The worrying thing about insect infestation is that the signs aren’t always readily visible. Termites, in particular, can remain well hidden until they have caused widespread damage. Over time, they can weaken or destroy houses made primarily of wood.
Improper maintenance also often leads to weakened foundations and damaged walls. Repair or replacement can be costly and add considerably to the purchase price.
Pay particular attention to leaky plumbing. If these issues have been going on for years, the house might be riddled with problems that could be difficult or costly to fix.
Suspicious improvements
Most houses listed for sale will have freshly painted walls and ceilings. But if only some parts of the walls are painted, it might be an attempt to conceal water stains or damage caused by insect infestation.
Another potential red flag is the overpowering smell of air freshener. Of course, this could only be the seller’s efforts to make the house more inviting to prospective buyers. But it could also be a ploy to mask the smell of pet urine, mold, or moisture.
Even well-meaning efforts at improving the house could pose structural risks. Unfortunately, this is sometimes the case with DIY electrical repair and plumbing modifications.
If you detect issues with supposed improvements, bring them up with the seller. You could also arrange for a thorough home inspection to ensure that the improvements to the home don’t pose any serious risks.
HVAC issues
Even minor issues with HVAC systems can become expensive problems in the future. Most systems are prone to reduced efficiency over time due to blocked vents, damage to the roof decks, or even just reaching the end of their useful life. Ultimately, these problems result in having to pay higher utility bills without getting the full benefit in return.
When looking over a home for purchase, ask how long the furnace and AC units have been used. Furnaces typically have a usable life of 18 years. AC systems usually last about 12 years before they need servicing.
Market indicators
Some potential red flags may not be apparent in the house itself but reveal themselves in the listing. Market indicators that could signify underlying issues include:
“As-is” disclaimers. Houses sold “as-is” may have issues such as insect infestation, structural damage, or HVAC problems that the owner isn’t willing to repair. If you still decide to buy the house regardless of these issues, you will have to assume the cost of renovation and repair.
Remaining unsold longer than usual. Depending on the location, houses are usually sold about 68 days after being listed. If it remains on the market for much longer than that, there is a good chance of hidden issues.
Unusually low price. Bargains are few and far between in the housing market, so be wary of houses that have unusually low price tags. These could be signs of structural damage or other costly issues. When in doubt, arrange for a thorough home inspection by a professional before committing to the purchase.
Listed as “For Sale by Owner” (FSBO). FSBO listings usually indicate that the owner opted not to hire a real estate agent to handle the transaction. This could simply be a cost-cutting measure, but it could also signify problems that most agents would be reluctant to deal with.
Conclusion
The red flags described above don’t necessarily mean that there is a problem with the house. In some cases, the owner might be willing to resolve the issues before the deal goes through. Even so, it’s always good to know what to look for so you can avoid unnecessary trouble and expense.
About Daniels Insurance, Inc.
At Daniels Insurance, Inc., we have a unique understanding of the risks that businesses like yours face on a regular basis. With the backing of our comprehensive coverages and our dedication to customer service and quick claims resolution, your business will be fully protected. For more information, contact us today at (855) 565-7616.