Owning a home is a dream for many people. Yet, the dream of having your own space can quickly turn into an ongoing source of headaches and ulcers when unexpected and expensive problems rear their ugly heads. To ensure that your dream house does not end up being a money pit that sucks all the fun and cash out of your life, make sure you investigate the following five key areas before you ever sign the contract.
First and foremost, make sure the deed is fully correct and current in every detail contained within the document. This is especially important when it comes to the amount of property that comes with the house. Do not take the word of the seller on this one. Go to your county or parish records office and initiate your own search. All sorts of legal issues and problems with the neighbors will ensue should it come to light that the property lines on your deed do not match with previous deeds, and there is no record of any property being sold as a separate parcel. Failure to verify this detail could create a situation in which a neighbor would be able to prove the property line actually goes right down the middle of your living room. If there are any irregularities, make sure they are resolved before the closing date.
Next, take a good look at the roof, and the area directly under it. Are there any signs of water damage or mold? Verify when the roof was last replaced; compare that date with the current condition of the roof. That will give you an idea of how long you have before the roof will need replacing. If you are not going to get at least five years service from the current roof, or you do find water damage or mold, consider passing on the house. This would be especially true if the occupants have any type of allergy problems.
The plumbing is one of the most serious elements to consider when buying a home. Pay close attention to how accessible the main sections of the plumbing would be in the event there was an issue with the bathroom or kitchen. Have it inspected, and make sure you have all the details about it’s maintenance from the current owner. If the pipes are older and in need of some replacements, get estimates and then ask about having the work done before you buy. If you receive some pushback on your request, counter with a lower offer, deducting the amount of the highest estimate.
Like the plumbing, the condition of the wiring is central to enjoying your future home. It is also a major safety factor for you and your family. Make sure every outlet is checked and every switch is working properly. All light fixtures should be checked closely for any signs of malfunction. Have the wiring inspected and certified to ensure it is within acceptable standards. Remember, when evaluating the wiring, it is not just the replacement cost you need to consider; it is also about making sure you and anyone under your roof will not be injured in a fire or other mishap that originates with outdated or poorly constructed wiring.
Check the basement and exposed areas for any signs of wood rot or termite damage. Find out if the home has been regularly treated for prevention of termites and other pests, and obtain the histories, if possible. Waking up to find you are hosting a colony of termites is more than just a minor inconvenience; it can destroy your home before you know it.
Lastly, check the foundation of the home. While all houses settle over time, you want to be alert to any evidence that the foundation is buckling or becoming so uneven that it is affecting the integrity of the home. One obvious sign of foundation problems would be seams in the corners of the walls that appear to have shifted or do not fully meet. Should the home be two stories, look at the condition of the ceilings, and make note of any seams that seem to have split slightly. A poor foundation will put additional pressure on the support and load bearing beams that hold your home together, weakening them far more rapidly that the normal wear and tear that comes with the years.
Having your own home is meant to be a source of happiness in your life, not a constant struggle to find available resources to fix yet another problem that should have been addressed long before you ever moved in your first stick of furniture. By making sure you do your homework before closing on the home of your dreams, you can avoid the unpleasant realities of seeing your dream come true become your endless nightmare.
