If you see a home with one of these red flags, you may want to walk away.
Are you looking to purchase a home soon? If so, you’re probably going to get an inspection. This is an important step in the home-buying process, but how can you differentiate between minor issues and major flaws? Today I want to talk about some of the biggest red flags to look out for during your home inspection.
The first thing you need to watch out for are problems with the foundation. Recently, I was looking at a home in Anaheim Hills that needed major foundation fixes. In total, the repairs will cost around $100,000. If your inspection brings up foundation issues, think again, or you could end up paying that amount once you move in.
The next problem area is the roof. Your roof shields your home from the elements, so a damaged roof has to be repaired immediately. If you need to replace an entire roof, it can run you anywhere from $10,000 to $15,000. Make sure you know how much life a roof has left before you buy a home.
You should also be wary of any electrical issues. The circuit breakers in older homes might not be up to code, and some properties have aluminum wiring that needs to be replaced. Fixing the wiring is called pigtailing, and it can cost anywhere from $4,000 to $5,000. If you want to totally replace the wiring, it will be much more—as much as $15,000.
“Make sure you know how much life a roof has left before you buy a home.”
Also, check out all the major systems, such as the heating, cooling, and water systems. Many times, sellers will cover issues with these under your home warranty, so make sure you’re covered before you close.
Finally, watch out for any water-related issues. Water is one of the most powerful forces on this earth, and it’s one of the most dangerous issues for your home. If a home has poor drainage, it could damage the property, while standing water can create a nasty mold problem.
If you have any questions about today’s video, or if you’re looking to buy or sell a home, please call or email me. I am always willing to help!
