Investing in a new property can be an exhilarating process as you look forward to the financial
freedom it could provide. However, it is important to keep a sharp eye on detail when looking at
a potential investment. Unfortunately, some deals may seem too good to be true, and sellers
could be making the house look better than it actually is. Therefore it is essential to be aware of
as many warning signs as possible.
The more you know before making a deal, the better the deal you are going to get. So, whether
you’re buying a new house as a first-time homeowner or are an experienced real estate investor
adding to your portfolio, consider these guidelines while assessing a home’s condition.
Ask About The Roof
The roof is one of the most important aspects of a property, so it is essential to understand its
condition before making a purchase. Ask the seller when the roof was installed and if they could
provide the warranty to back it up. It is important to note that many older homes have multiple
layers of roofing, which could potentially have asbestos. You don’t want to purchase a house
just to spend more money on costly roof repairs.
Check the Floors
One of the first things you should do once you first enter the house is to check the condition of
the floors. Examine if they are sagging, dipping, or have any unusual indents. Bumpy floors near
the bathroom could indicate poor plumbing, while uneven floors could be a telltale sign of
Try the Marble Test
Bring a marble to the viewing and place it in different areas on the floor of each room. Examine
how the marble rolls to see how uneven the floors are.
Look For Fresh Paint
If you notice that the house has not been renovated, but there is fish paint on the walls, it could
be a strong indicator that the seller is trying to hide something. Sellers could be attempting to
cover up water damage, the presence of mold, or termite damage. If you see obvious signs of a
cover-up, ask the seller what they painted over. Then, look in drawers, cabinets, window sills,
and around the toilet and tub for signs of water damage.
Look For Cracks in The Wall
Even if everything else checks out, do not ignore any major cracks in the wall. Anytime there are
large cracks in the wall or ceiling, the structure is moving, which could cost a pretty penny to
repair. While small drywall cracks could be harmless, larger cracks could indicate significant
structural damage and possible leaks in the plumbing.
Check the Basement For Water Damage
If it’s rainy out and the basement is dry and smells fresh, there is nothing to worry about.
However, if it’s dry outside and the basement smells like mildew and feels damp, there could be
significant water damage.
Be Wary of Air Fresheners
If you notice that there is an unusual amount of air fresheners or scented candles, the
homeowner could be covering up any unwanted smells, mildew, sewage, or pet urine.
Examine the House’s Wiring
It is crucial to ask the seller when the last time the electrical system was replaced. If it has been
multiple decades, electrical issues could arise that you don’t want to be stuck paying for. You
should check the electrical boxes for any exposed wires and see if it was installed correctly.
Ask for Proof of Permits
If you noticed there had been significant work done on the property, ask the seller for proof of
permits to ensure everything was built correctly. For example, if you notice the deck is recently
new and the homeowner does not have any permits, there is a chance it is not up to code and
could pose a potential hazard.
Be Thorough With Your Inspections
It is essential to take your time and pay close attention to every last detail before making a
purchase. Taking the necessary steps to make sure that your next investment is a good one will
make it all the easier to accrue profit without any unnecessary hiccups.