5 Potential Deal Breakers for Buying a Home

A home may look perfect on paper and even during your first visit. Nonetheless, there are certain things that could come up during the inspection that could leave you wondering if the home is a good choice after all. In particular, there are a few issues that could be deal breakers, depending on your budget, timeline, and how much work you’re willing to put into a home.

1. Problems with the Foundation

Without a solid foundation, your home is likely to suffer serious problems in the future — in fact, there could already be issues present that you just haven’t detected. You can find out if something is wrong with the foundation by looking for uneven floors, sticking doors or windows, and damp in the rooms on the first floor. Cracks, however, are rarely a cause for concern, as they are usually easy to fix.

2. A Roof That Needs Replacing

Although roofs do need replacing occasionally, it’s a major expense to purchase a home with a roof that will need changing in a couple years. Obvious damage, leaks, or missing shingles all indicate that the house may need a new roof soon. The seller should be asking for a price that takes this into account — otherwise, you may want to search for another home.

3. Flood Damage

Water damage could also be caused by flooding. This leads to damp, mold, and bad odors. Damage is not only expensive to fix, there’s always the risk that a flood could happen again, particularly if the home is near a lake or in a floodplain. Find out if it’s possible to improve the drainage or waterproof the foundation.

4. DIY Renovations

The homeowners may have tried to repair some of the above or make improvements to the property. Unless they possess the necessary expertise, you’re likely to find this means you need to contract a professional to redo the work. This could be costly if the DIY job involved false walls, extensions, or electrics.

5. Aged Electrics

It’s just as worrisome if the house has outdated electrics. You may need to replace the entire electrical system immediately to prevent a fire hazard and to qualify for home insurance.

Even if you end up not buying the first home you find, it helps to be prepared for when the right property does come along. An important way to prepare yourself is to become approved for a mortgage through a mortgage broker. Leduc homebuyers can receive pre-approval in less than 24 hours with Flare Mortgage Group. Contact us to complete the process online.