Tips to Avoid Buying a Money Pit

Tips to Avoid Buying a Money Pit

You have saved for years, decades even, just so you can buy your dream home. Sacrifices have been made but you don’t care because it will all be worth it. The thought of moving in with your family and making memories is making you excited. However, we are living in a world where honest dealings are rare. This is why it is important to make sure that your efforts don’t go to waste by buying a money pit. Here are 5 useful tips to avoid buying a money pit!

Check out the basement

Most houses come with a basement but few people ever think of looking at it. What most people don’t know is that the basement will give you a quick read on what kind of house you are about to buy. It will give you a clear picture of the quality of construction and building materials.  Here is what to look for in the basement.

Drainage, plumbing and electrical systems

Are the drainage systems well-established? Does the house have a history of drainage problems? Ensure that any underlying drainage issues are fully handled before investing. Check all plumbing pipes to make sure that they are not old and rusty. Rusty pipes are most likely to leak. You should also look out for old electrical systems to avoid failures in the future.

General house structure

A house is only as good as its foundation. Ensure the house is built on a solid foundation and is reinforced with steel. Look at it from a distance to make sure its standing straight. Inspect the floors to ensure they are flat and doors to see if they fit.

Water damage and cracks

Cracks are the first red flag for any house. They may be an indication of underlying structural issues or an unstable foundation. Minor cracks are okay. It is the big ones and the v-shaped ones that you should look out for.  You should also check for mold as they are sign of water damage. They are also an indication that the house is not damp proofed.

Bad weather visit

The one thing most people forget to do is visit the house during bad weather. There are so many things that a good weather visit cannot reveal. This includes roof leaks and flooding issues.

Are you in the market for a new home?

Ensure that you have made all the above checks before buying your new home! To be on the safe side, it is advisable to hire a certified home inspector.

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Author

Larycia Hawkins