If you’re shopping for a new home, get ready for the adventure of a lifetime. Whether you’re moving for work or you’re simply looking for a new start, buying a house is a big deal. Ideally, you and your family will live in your new place for years to come. That’s why it’s crucial to take the time now to ensure you’re making a wise investment.
Even if a home looks pristine at first glance, it could have hidden problems that are costly to repair. To avoid sinking your savings into a money pit, always schedule a professional home inspection before signing any closing documents. To save time and money, here are five obvious things you can inspect yourself each time you tour a home you’re interested in buying. If you see major problems in these areas, it may be worth negotiating on the seller’s asking price or moving on to the next home.
1. Analyze the Condition of Major Appliances
Major appliances such as furnaces, air conditioning systems, and refrigerators can last anywhere from 7-20 years — depending on their care and maintenance. Replacing major appliances can be costly, so it’s important to analyze their condition before buying a house. You should also figure out the age of the various appliances in a home to determine how many useful years they likely have left.
To check a product’s manufacturing date, find the serial number (usually located in an inconspicuous place such as underneath surface elements or on the back wall). Once you find the number, look it up on the manufacturer’s website to reveal the product’s manufacturing date. If it’s nearing time for replacement, keep in mind that some types of appliances are more expensive to replace than others. For example, a mini split is generally less expensive to replace than a traditional furnace. It’s up to you to determine whether it’s worth it to buy a home with old appliances you’ll have to replace soon after moving in.
2. Look for Signs of Mold
Mold isn’t just a sign of expensive water damage in a home. It’s also a health hazard that should always be taken seriously. Common health-related symptoms associated with mold exposure include nasal congestion, persistent coughs, sneezing, itching, and skin rashes. People with asthma and other respiratory conditions can develop more serious symptoms, including severe asthma attacks and shortness of breath.
Unfortunately, mold isn’t always easy to spot in a new home. In some cases, it may hide beneath floorboards, bathroom tiles, or even inside a home’s ductwork. However, it often emits a musty smell that gives its presence away. If you have any suspicion that a house may contain mold, it’s worth the investment to hire a mold detection company to check things out before you buy. It’s normal for a typical home to have up to 1,500 mold spores per cubic meter. Anything above that is a red flag warranting further inspection.
3. Ask About Flood Zone Status
Many people pay big bucks to relocate near a source of water, whether it’s the ocean, a lake, or a river. While purchasing waterfront property may be a homeowner’s dream, it does come with risks. Living in a potential flood zone can quickly become a nightmare during particular wet seasons or years. Even seemingly dry areas can become flooded in the right conditions. That’s why it’s important to ask about flood zone status before purchasing a new house.
If you choose to live in a flood zone, you’ll need to purchase a special insurance policy that offers additional flood protection. Depending on whether you’re in a minimal-risk, moderate-risk, or high-risk zone, your specialized insurance costs could be quite hefty. Before deciding whether to buy, make sure the additional insurance premiums and flooding risk are worth it. You should also check to see what the previous owner did to mitigate the property’s flooding risk.
4. Make Sure the Foundation Is in Good Condition
Many home shoppers get caught up in whether a house is the right style or has enough space for their needs. While these considerations are important, they shouldn’t overshadow more crucial issues like structural integrity and safety. Before signing your name on the closing documents for your “dream home,” don’t forget to check the foundation. Cracks and leaks in the foundation can translate to major repair costs down the road.
The average cost to repair a foundation is around $5,400. However, you may pay thousands more than that if you purchase a home with a severely damaged foundation. Therefore, it’s probably not worth it to buy a house with existing foundation problems unless the price is significantly reduced. Even then, you may decide it’s not worth the investment or the work to get it repaired.
5. Check the Status of the Roof
The roof is another common area many homeowners overlook when house shopping. But just like foundation issues, roofing issues can quickly drain your savings account. To avoid sinking your money into a home that will require expensive repairs, take time to check the status of the roof.
Look for signs of water damage, missing shingles, and any areas that appear to be sagging. If the house has an attic, go inside and look for signs of leaks and water damage. If you see any red flags, have a roof inspector confirm your suspicions before deciding whether it’s worth it to buy.
Buying a house is both exciting and nerve-wracking because there’s so much money on the line. However, you’ll have greater peace of mind on your home-buying journey if you’re careful about what you purchase. Use these five tips to help you find a home that doesn’t come with major hidden costs. Checking for these things takes extra time but will give you invaluable peace of mind in your final purchasing decision.
