The housing market is a competitive area, and if you are a first-time buyer, then you may feel the pressure to commit to buying a house quickly without giving yourself time to think about it thoroughly or do any research. This is only natural, of course, when it comes to buying a home when you see one that ticks all of your boxes in terms of size, location, and aesthetics, you’ll want to snap it up before anyone else gets a chance to.
You may look at buying a home that you know needs some work. After all, you could get the work done yourself, and you’ll still get the home of your dreams. Or will you?
There are some problems that you cannot afford to ignore when you are buying a home, and they should be red flags for you. For example, your survey may reveal repairs that are needed that will be very costly and may cause problems should you ever try to resell the house.
So before you rush off and buy a house, here are some of the problems that you cannot afford to ignore when buying a home.
High Crime Rate
Before you jump in with both feet, check out the local crime rate. While you may be buying in an area that you know and that you want to live in, crime rates can differ from area to area, and if you’re buying in a place that has a high level of robbery or aggravated assault, then this could wipe around 20% off the value of your home.
Not only will you need to worry about rising crime levels affecting the value of your home, but you will also no doubt be concerned about being a victim of crime.
Check with your local authorities to find published data on crime in the area before you make the decision to buy.
Poor Quality Local Schools
If you are a parent or you’re thinking about starting a family, the proximity of the home to the local schools is important. While you may have looked at whether there is a school close by to the house to send you kids to, it is important that you look where that school sits in the league tables for exam performance and for any inspections that they have had. The last thing that you’d want is to end up living in the catchment area for a bad local school, as this will affect your child’s education dramatically.
Buying In An Area That Is Likely To Flood
Floods can occur in areas close to rivers, lakes, and near the sea. But, while you may think about these as being obvious locations that may be liable to flooding, it is possible that a flood zone could be almost anywhere. Draining easements and slopes can bring about flooding too. Check online to see if the home that you are looking at buying is at all close to a flood zone.
Finding Damp or Mold
Finding rising damp or mold in the home that you are buying should send off alarm bells ringing. Although both are treatable, the cause could be anything from poor ventilation, leaks, or previous flooding to the property that has not been cleared up.
You can look here for solutions to rising damp.
There are many different insects that could decide to make their home in a house that you’d like to buy; these could range from the annoying and easy to rid to the destructive and hard to get rid of.
Insects such as ants may be easy to get rid of and won’t do much damage, whereas fleas and bed bugs will require fumigating to get rid of them. On the more severe end, wasps and termites could make their home in the house that you want to buy. These could be dangerous and destructive and very hard to get rid of. These could be costly in terms of the damage they could cause and costly in terms of removal.
Make sure you have a full inspection of the property carried out before you sign on the dotted line.
Out Of Date Electrical Systems
If you’re looking to buy a home that is a few decades old, then you should check the electrical installation to see whether it has been modernized in any way. Older properties will have been built with the electrical demands of the age in mind. This means that they will not only have a limited amount of power outlets meaning that you’ll need to use splitters and extension cables throughout your home, but the additional pressure that all of your appliances and devices will put on the system could cause sparks or fires.
Have the wiring system looked over as part of your home inspection. If the installation needs to be replaced, this could be very costly but also very necessary.
An Old Or Damaged Roof
Every dream home needs to have a good, sturdy roof above it. But problems with the roof could be costly to replace. If your roof is damaged, it could cause leaks, which in turn, could lead to internal problems with damp, structure, and decor.
When looking at buying the home, ask how long the roof has been on there. A good roof should last for thirty years; however, if you know that a roof has been up there for a considerable amount of time, then it is a fair bet that you’re going to have to look at replacing this yourself at some point in the not too distant future.
Near Main Roads or Electric Cables
There are many different issues associated with living near the main road or electric cables. Noise pollution is a problem that will affect people in both circumstances. Electrical interference may be a problem when living near to electrical cables while pollution may be a major problem when living near to the main road.
Be sure and check out how close the house that you’re considering buying is to roads and powerlines.