A Guide To Buy The Wrong House
By: Ian Golightly MBA, Realtor
If you go search the internet on how to buy a house, you will find a flood of information on how to buy the ‘perfect’ house. With all the plethora of information, the amount of content makes it seem that home choosing is easy.
With all the accessible online information, home buying as an investment strategy isn’t as easy as it seems, whether you plan to live there or not. Ironically, many articles online portray the horror stories of what homebuyers bought after closing. Some of these findings include leaks in the roof, hidden mold, asbestos used on the house ducts in the basement, and other hidden surprises.
Many houses across America has one or even a combination of issues which may sometimes make it dangerous to live in. Suppose the housing market is a competitive landscape. In that case, it is easy for prospected homebuyers that are cash buyers to hurry on the closing by skipping inspection from a licensed home inspector. On the other hand, home sellers can make a few inexpensive modifications to cover up a few years of neglect.
The infographic below proves the reason why you shouldn’t skip purchasing a home inspector. You can inspect the things that see that are obvious, but a home inspector is a trained license personal who can spot things that are not seen by the untrained eye. Having an in-depth report should aid you in making better sound judgments on whether to pursue with the closing or not.
Some things that you can keep an eye out for or keep in mind when you are looking at properties with your agent are:
- Cracks in the foundation
- Structure issues
- Electrical wires hanging out
- Saggy roof
- Rusted pipes
Credit: Tauscher Cronacher
Any of the listed things above can cost significant money to fix and maybe be worth asking the seller to pay or at least a portion for the cost before signing your name on the dotted lines. Overall, purchasing an unfit home is not a challenging goal, but it’s what comes after the closing that will be the most difficult.
So the best way to make sure your property is safe for you or your family, you should consider a professional licensed inspector. After you get your detailed report, you will want to make sure that you get estimates, so you can determine if it’s worth negotiating a price with the seller or backing out of the deal. At least you know how to buy the wrong house, so skip the home inspection, and you are on all your way to riches!