Red Flags for Buyers
Between rising home costs, low inventory and the frequency of bidding-wars, today’s real estate market is rough for homebuyers.
When touring homes for sale, prospective buyers have to pay attention to more than if a house aligns with their wishes, they also want to make sure the home is in good condition and won’t need extensive repairs once they move in.
Some flaws can be ignored and even expected, such as outdated appliances and ill-advised paint selections, but some others might be deal breakers. Sellers have sometimes been known to try to put “lipstick on a pig,” and hide the defect rather than fixing the problem. There are some red flags that could indicate potential problems and therefore, homebuyers should evaluate more thoroughly.
- Bad Smells (Inside or Outside)
Take a big whiff of the air inside and outside the house and think about whether you smell anything malodorous. If there are baskets of potpourri, lots of fragrant candles or air fresheners, this could be a red flag. Pet and smoke odors can be diminished, but mildew and mold smells indicate a much larger problem that can cost thousands of dollars – in addition to fixing whatever’s letting moisture in.
- Foundation Failures
Look into the yard grading, and see if water is puddling near the foundation. Water should be draining away from the foundation and never accumulating against the house. See if the gutters are clogged so water is pouring over the top and landing along the foundation. Search the foundation for damage, like bulges or cracks bigger than one-third inch, which can mean the house has structural issues. Minor cracking may only be a sign of settling in the home.
- Random Fresh Paint
One of the best ways to prepare a home for sale on a budget is fresh paint. Painting a room is a fairly inexpensive way to make a room feel clean and bright. However, when looking at homes, a room with only one wall or a portion of the ceiling freshly painted, should be a red flag. It’s possible the seller is trying to cover up a problem, which should be a cause for concern.
- Stains on Walls and/or Ceilings
If a seller has not covered up stains on a wall or ceiling, this should still be viewed as a red flag. The stains could be a result from a leak in the roof or a plumbing issue. It’s possible the stains are from an old problem that has been corrected, but it’s worth investigating.
- Electrical System Issues
Two of the most common home inspection findings are issues with the electrical raiser cable as well as improper wiring throughout a home. Depending on the age of a home, it may have outdated electrical panels with fuses, and some homes still have knob and tube wiring. While most home buyers are not professional electricians, simple things like turning on light switches, checking for flickering lights, and checking outlets are good ways to tell if the electrical seems to be working properly.
A knowledgeable Realtor can also point out many red flags to potential home buyers while viewing a property. The Platinum Group, Realtors are experienced agents who work in our local market on a day-to-day basis and can provide the best kinds of educated information and advice.
With access to a whole suite of resources that help navigate the home buying or selling process, The Platinum Group listens to your needs, knows the market, and is your trusted advocate to help smooth the progression toward a successful outcome.
For a no-obligation consultation, call today: (719) 536-4478 or visit Platinum