The moment we buy a home is a momentous occasion. However, because we are eager to make the purchase, we sometimes fail to notice see the various defects of a property. You must learn to look out for a number of red flags and walk away from a property no matter how much you love it. Some of the things you should be aware of are below.
First and foremost, check the neighborhood. It cannot be underestimated how important it is to check on this. Find out whether the community is going through growth, or whether it is declining. Seeing a lot of homes in foreclosure and boarded up businesses is a sure sign of trouble. Make sure you visit the area on two different occasions. This is also a great way to find out what traffic is like. Don’t forget to schedule one evening visit, to see whether there is nuisance on the streets at night. Contact the police as well and ask them for crime statistics on the local area.
The second key factor to look into is for you to figure out whether you are looking at a foreclosure or short sale property. Although it is true that these are the cheapest properties, they are also often in poor condition and in bad neighborhoods.
Basically, you should not purchase a property that has not gone through a professional inspection. However, the hints and tips above should tell you whether or not it is worth investing in an inspection at all. If the property does have problems, you can decide to walk away from it, or you can demand a substantial discount in order to pay for the repairs. Make sure you take home inspectors’ opinion on board too. Their goal is to make sure you get a good deal on a property.