Red Flags to Look for When Buying a Home
When you find a house that seems too good to be true, newsflash: it probably is. Don’t let your excitement get the better of you.
Run into any of these red flags while house-hunting in Colorado, and you’re probably better off looking at Aurora apartments instead.
An Empty Neighborhood
A big, colorful “For Sale” sign in front of a house is usually a good sign when you’re looking to buy a property. When every house in a neighborhood has that sign, though, that could be a problem. If a lot of people in the same area are all selling their homes at the same time, it may point to a serious underlying problem, such as a high crime rate or a struggling economy.
Fresh Paint in Odd Places
When someone puts their house up for sale, it’s not unusual for them to apply a fresh coat of paint here and there. What is unusual is if they seem to have done it very selectively. For instance, if only one wall in a room has been painted over, that could be a warning sign that the owners are trying to conceal a bigger issue, such as water damage or mold growth.
Pets and Insect Infestations
The last thing you want if you’re going to spend a lot of money buying a house of your own is to end up sharing your property with a whole bunch of tiny, dirty, many-legged squatters. That’s why it pays to keep an eye out for bugs and other pests when touring a home. Even if you don’t see any yourself, you might want to get a professional inspection before committing to buy.
Areas That Are “Off Limits”
It’s hard to find a red flag that’s redder than a room or other part of the house you’re “not allowed” to see. It doesn’t matter what excuses the seller or realtor gives, there’s no good reason a buyer shouldn’t be able to examine every inch of a house before they buy it. If now’s not a good time, try to reschedule. If they give you the run-around, take your money and run.
Damage to the Foundation
A property’s foundation is simultaneously one of its most important features and one of its most easily overlooked. You might be impressed by the architecture, the décor, or the square footage, but take some time to check out the foundation for cracks or other damages. The foundation is literally the backbone of the entire house. If that goes, the whole structure is in trouble.