Home buyers need to be extra vigilant
about inspections in the early stages of a purchase because if problems are
discovered too late in the process, it can "dash home owners' dreams and
budgets," writes Yahoo! Finance in a recent article.
One home buyer in Long Island, N.Y.,
explains in the story that she didn't discover the fixer-upper she bought
needed $225,000 in repairs until after she purchased it.
Jonathan and Drew Scott, who educate
viewers about transforming fixer-uppers on HGTV's "Property
Brothers," offers up a checklist of five things buyers should look for to
ensure they don’t buy a lemon.
- Mold: Buyers should note any musty smells in the home and
be on the lookout for any mold. Mold can be caused by improper air
circulation as well as water leaks.
- Pests: Termite damage can be widespread and costly to
repair.
- Outdated fixtures and wiring: Electrical problems in a home can
cause fire hazards. Buyers should take note of any indication of faulty
wiring, such as cable coming out of drywall.
- Poor DIY jobs: Buyers should make sure that the previous home
owner's do-it-yourself projects were done correctly and are up to code.
For example, poorly done flooring and painted-over wallpaper can be
time-consuming and costly to fix.
- Drainage problems: Sloping sod can cause flooding problems in a
backyard, and a slow-draining sink could be an indication of a bigger
problem. Buyers should test sinks and flush toilets to test for any
potential problems.
Courtesy:
Realtor Magazine
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