You don’t want to take any chances when it comes to buying a house. Even if things seem great on the surface, there could be something sinister lurking in the depths of the sale. Don’t let your excitement about becoming a homeowner cloud your judgement – a home is a long term commitment, and you want to be sure you’re purchasing a house you could live in for the rest of your life if you needed to.
1. It’s Suspiciously Cheap
Properties are expensive. If the house you’re about to purchase is shockingly affordable, there’s probably a good reason why. The septic or sewer system may frequently back up. The neighbors might keep you up all night. It may have been full of bedbugs at some point. Get an inspection of the home. If the property were truly as great as the photos and ad made it out to be, they’d likely be charging a lot more for it. If it’s selling for substantially less than similar properties in the area, you should always be skeptical and ask a lot of questions.
2. It’s in a Bad Area
The area you live in is just as important as the property itself. Many areas are large and varied – one corner could be great, and the other corner could have a serious crime problem. Large areas, like Sydney, will all have great locations and subpar locations. You’ll want to get a sense of the area at large before you put an offer on a property. The school districts could be bad, the roads could be breaking down, or there could be frequent burglaries in the neighborhood. Even if you love the property, is it really worth the nightmares that may come with it?
3. The Necessary Repairs Are Being Minimized
You might be told that the home has a leaky roof, or needs a roof replacement. The cost of this might even be figured into the asking price of the home. It looks like you’re getting a deal on the property due to this defect. What you may not realize is that leaking roofs often lead to mold in the walls, and mold reproduces within 24 hours.
What should have been a roof replacement might turn into a wall replacement for multiple rooms in the home and a whole host of wet, rotting attic boards to deal with. You might even need to call an electrician to see if the wiring was damaged by the water. Consider the full scope of the problems and what they may potentially affect.
4. It’s Only “Just Right”
A couple with one child is probably looking for, at minimum, a two bedroom home. What happens if you decide to have another little one in a year? The two youngsters can bunk together for a little while, but you’ll wish you had a way to separate them when the toddler tantrums start. It always helps to look for a little more than what you need. It will give you room to grow, and you won’t find yourself looking for another new home in just a few short years.
Take as much time as you need to decide on the right property. After all, buying a place to live is a lot different from impulse purchasing some chocolate on the way out of the grocery store. The more research you do, the less likely you’ll be to have buyer’s remorse.