5 Home Buying Deal Breakers
While a house may look in pristine condition on the outside, there can be costly repairs hidden beneath its walls. Even in a seller’s market, it’s still important to get a home inspection. A home inspection is money well-spent – it can help you avoid buying a “money pit” that could end up costing you thousands of dollars in repairs. Here are 5 Home Buying Deal Breakers you should seriously consider walking away from.
1. A Sinking House
You don’t have to be a certified home inspector to notice a home is sinking. If you see large cracks in the basement concrete walls, it’s a telltale sign of costly repairs. The house could be sinking into the ground for any number of reasons, including poor soil or water drainage issues. Sometimes foundation problems are so obvious – if the windows won’t open properly, it’s a clear sign something is wrong. While hairline cracks aren’t a reason to walk away from a home, if you notice a wide crack you should get an estimate from a contractor to see how costly it would be to repair.
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If the home you’re thinking about buying has a septic system, it’s important to get it tested to make sure it’s functioning properly. An inspector can test the septic system by sticking a dipstick into the soil to make sure it’s not oversaturated. If the wastewater isn’t draining properly through the pipes, it can cost between $10,000 and $30,000 to move the drain field.
3. Old Wiring
If you’re buying an older home, it’s important to make sure the wiring is up to code. Not only can rewiring your home be expensive, some insurance companies won’t cover your home until you’ve upgraded the wiring. Knob and tube is prevalent in older homes and can cost you an arm and a leg to upgrade. You should also watch out for DIY wiring; poorly done wiring can be a fire hazard and will need to be replaced. You should make sure the home has at least 100 amps – anything less means you might blow a fuse by simply running your electric range and dishwasher at the same time.
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Mold is most common in damp places like basements, bathrooms and fruit cellars. Not only is mold unappealing to look at, it’s unhealthy to inhale. Many people are allergic to mold, especially those with repertory problems. Unfortunately, cleaning up mold won’t solve the problem – you’ll have to uncover the root case. Mold can be as simple as poor venting in your bathroom, while sometimes it can require a complete gut job of your newly-renovated basement.
A roof is one of the most costly things to repair on a home. While a roof that needs re-shingling shouldn’t necessary be a deal breaker, if the roof sags that’s another story. A sagging roof can mean the roof line isn’t straight. Replacing the rafters can put you back several thousands of dollars.
Working with a real estate professional will help identify these deal-breakers. Contact a Patrick Parker Realty Buyer’s Agent today to help avoid these home buying money pits.