Are you in the market for a new home? If so, you should be hyper-vigilant because buying a house because it will likely be the largest purchase of your life. On top of that, looks can be deceiving. If you don’t know exactly what to look for, you may wind up with a home with major – and enormously costly – problems, not to mention that you may not be happy in the home. To help you avoid that mistake, we offer these 4 red flags to pay attention to when buying a house in Port-Elizabeth.
1. A Price Too Good to Be True
You’ve no doubt heard this old saw: “If it seems too good to be true . . . it probably is.” And that old saying is just as true when it comes to buying a house in Port-Elizabeth, especially with respect to price.
“The most obvious real estate red flag,” according to industry pros, “is a listing price that is simply too good to be true. This usually indicates that the sellers are extra-motivated, which should certainly make you wonder why. While it’s possible they need to sell quickly for financial reasons, personal reasons, or job relocation reasons, it’s also possible that the home is simply not in good condition.”
When buying a house, one way to tell whether a deal is too good to be true– one whose purpose is probably to cover a host of problems – is to look at the prices of other homes in the immediate area. “A home that is much too cheap for an area might be a red flag, indicating that there might be an expensive problem that will need to be fixed down the road. Unless you are in the market for a cheaper home that you can refinish, a house with an inexpensive price tag may end up being more expensive than you bargained for.”
Here’s what one expert recommends: “Don’t check common sense at the door, and vet every opportunity . . . Many properties that seem like deals on the surface truly aren’t.” Your best course here is to consult an experienced Port-Elizabeth agent. Just call 0823283345 to discover more.
2. Indications of Deferred Maintenance
Another big, bright red flag to pay attention to when buying a house in Port-Elizabeth is any indication or sign of deferred maintenance on the home. This applies to even seemingly minor things because if the owners neglected the small things, they probably didn’t take care of the big things either.
“[L]ook for signs that the homeowner might have neglected routine home maintenance,” for example, “issues such as burned-out light bulbs, long grass, leaky faucets, or faded paint. These signs indicate the seller may have ignored other ongoing home maintenance tasks that can cause real problems down the road. An attentive homeowner is going to flush the water heater annually, change air filters monthly, clean the chimney, inspect the roof for leaks, and regularly recaulk around windows and doors, for example, which will keep all those systems in good working order. If the seller couldn’t afford the time or money to fix maintenance issues you can see at a cursory glance, just think what your home inspection will reveal.”
Again, your Port-Elizabeth agent will be a valuable asset here. She will have the experience and trained eye to help you spot such signs that you may miss on your own.
3. Signs of Water Damage and Mold
And, when buying a house, you should certainly be on the lookout for any sign of water damage and/or mold.
“A musty odor can indicate water damage, even if you don’t see standing water on the property . . . Check walls and ceilings for water lines; they probably indicate flooding from a leak or a burst pipe that may have caused internal damage. Also, take a peek at exposed piping in basements or laundry rooms, and check for rust, water stains, or leaking.”
The presence of mold usually presents grave health concerns because it can cause any number of respiratory problems. And mold abatement is typically a lengthy and expensive process. Here’s what to look for . . .
“To detect possible signs of mold while wandering through an open house, discreetly open bathroom and sink cabinets and take a look around water pipes or drains . . . Even small black or gray spots indicate that more serious issues with the property may be lurking. You can also check the caulking around faucets and tubs for black spots, and look for patches on the ceiling.”
4. Many Other Homes for Sale on the Same Street
A red flag many people don’t pay attention to when buying a house – but should – is the fact of several or many other homes for sale on the same street or in the neighborhood.
If you see a lot of for-sale signs on the street, there’s probably a good reason for that. “A mass exodus from the street is most certainly a real estate red flag, if there ever was one. When multiple neighbors have listed their homes, make sure to take note and ask why. This could indicate that something is amiss – or it could just be a coincidence. Either way, get to the bottom of it before purchasing a home on the street.”
Professional Red-Flag Assistance
Although these are among the top red flags to note, many others exist. An experienced Port-Elizabeth agent can help you spot the red flags – and avoid a lot of headache and expense down the road. Our agents can help you avoid making a bad purchase. When buying a house in Port-Elizabeth is your goal, contact us at 0823283345.