Purchasing a home is both joyful and difficult. It is a significant financial investment, and you can’t afford to get carried away with your excitement to the point of disregarding critical aspects. If you do, they could lead to larger and costlier problems down the road. Plus, sellers will always go the extra mile to make their properties stand out and look more appealing. This just complicates and adds stress to an already overwhelming process. But we’re not trying to discourage you from your real estate adventure. Quite the opposite—we’re here to help you ensure you’ve found a property that doesn’t only look nice but fits your needs perfectly. How? We’ve consulted an experienced Illinois Realtor® and found seven most common red flags to watch out for when buying a home.
Buying a home? Watch out for these red flags!
It’s critical to be careful when touring and looking at properties, whether it’s because of the location, the pricing, or other characteristics that could signal possible red flags. Because it’s not feasible to pay for an inspection on every home you visit, it’s critical to be aware of any warning flags while house hunting. This is even more important if you are a first-time buyer.
Here are seven of the most typical red flags to look out for before committing to a house and declaring it your ideal home.
#1 Are there any photos of the home’s interior?
When looking for homes online, it’s important to pay attention to this major red flag. Does it look like there are just a few pictures from the inside of the house? Are there more pictures of the outside of the house and the area around it?
When you think about it, every home seller wants to show off their house in the best way possible and emphasize its positive aspects. Putting a lot of high-quality photos on the ad is the best way to show people that the house is in good shape. So, before you decide to go on a tour of the house, ask your realtor for more photos and see if photos of certain rooms were left out of the tour because they were important.
#2 Are there many homes for sale in that neighborhood?
The more homes for sale in a certain area, the bigger the red flag. The property could be in a bad part of town, or there could have been an event in the area that made people flee before the news spread. Or perhaps some essential amenities like grocery stores, schools, and malls might not be near it.
So make sure to check out the neighborhood before you buy a house. If you don’t, you might find yourself living in a bad place. Sooner rather than later, you’ll be planning your relocation, calculating moving expenses, and trying to make an estimate of your costs all over again.
#3 Is the price low?
It surely is tempting to purchase a great property at a below-market price. But if something seems too good to be true, it probably is. Listing agents might be trying to scare people into buying a home with serious problems by setting up a bidding war. Be on the lookout. Sellers and their agents might want to get rid of the house as quickly as possible before people get a whiff of what might be wrong with it.
#4 Is there a funky smell in the air?
Take a walk through the house, and if the air has a musty smell, there may be mold in the place. This is one of the biggest red flags to watch out for when buying a home. Mold can cause headaches, nausea, coughing, and other respiratory problems, especially if it’s there for a long time. These are things you don’t want your family to deal with.
Therefore, keep an eye out for possible water leaks under sinks and around windows. You never know where moisture might be getting into your basement, so be sure to check every corner. Also, look for long-term damage that needs to be fixed, like carpeting, drywall, exposed wood that’s rotted, and the foundation itself.
#5 Are there any cracks in the foundation?
One of the most important things to check when viewing a property is if there are any cracks in the foundation. It’s normal for the house to move a little over time, so there will be a few small cracks. However, it’s a big deal if you notice any bigger bumps or cracks on the walls or floors. If you see them, it could mean that the home has structural or foundation problems, and you might have to pay for costly repairs and foundation work when you become the owner.
#6 Are there any signs of water problems?
Another thing to keep an eye out for is any sign of water problems or clogged drains. Overflowing gutters or downspouts and water stains on the walls or floors can both be signs of poor drainage. Keep an eye out for water stains on walls, ceilings, and in the basement. They’re easy to see because they are yellow or brown. As a precaution, you might also want to look into whether or not the home has been flooded in the past before you buy it.
#7 Did you notice any signs of pest infestation?
As your home will be one of your biggest assets, the last thing you want is to buy one that’s already home to a number of pests. So as you walk through the house, look for signs of pest infestation.
Examine it for dead bugs, piles of pest waste and a lot of bugs, signs of bed bugs, mud tunnels made by termites, or any evidence of rodents living there. Because many pests—especially the wood-eating ones—can do damage to a home that is very costly to fix, make sure you know what these signs are.
Buying a home is easy when you know what red flags to watch out for!
Keeping an eye on these red flags will help you ensure you don’t make a big mistake and invest a significant amount of your money into something that’s not right for you. To be on an even safer side, make sure to get in touch with a knowledgeable Realtor®. They’ll know exactly which red flags to watch out for and make buying a home an easier and less stressful experience for you.
About Gerardo Zavala, Realtor
There is a true passion for connecting people with real estate that makes me fall in love with my career over and over again. While my title says, REALTOR® I think I am much more than that. For example, I am present and actively listening to my client’s needs, on the spot when things are urgent, and by your side to say “congratulations.” Most of my clients will say that I am a connection away from support no matter the situation, day, or time. In my opinion, customer service, educating the client on progress and next steps, and overall satisfaction are my top priorities. How can I help you?
