A home purchase is both exciting and fun. The only problem is that you have to make sure your excitement doesn’t make you stop from seeing any issues that a property may have. Yes, some properties seem to just call to us, but if they have certain issues, you should still walk away. Hopefully, the information below will show you some of the things to be aware of.
Firstly, be very careful before you buy a property listed as a “fixer up.” These properties are listed as being incredibly cheap, which does make them attractive. Most of us think that the things that do need to get fixed up are things we can mostly do ourselves. The truth is that most of these things can only be fixed by qualified professionals. Qualified professionals are incredibly expensive and you may not have sufficient budget for that. You should also be wary of properties that have had DIY fixes. People may have done a really good job, at least cosmetically, but the reality is that it may be saddled with problems.
Secondly, you need to know whether the property you are buying is a regular sale, a short sale or a foreclosure sale. Yes, you can get an amazing deal on this. However, many of these properties are in terrible condition and it can also be a sign of trouble in the neighborhood itself.
Basically, you should not purchase a property that has not gone through a professional inspection. With the information above, you should be able to tell whether or not you might want to hire a professional inspector, or whether it is a clear no on the purchase. If you find that there are indeed serious problems with the property but you don’t want to simply walk away, you could consider asking for a large discount so that you can pay for repairs. Make sure you take home inspectors’ opinion on board too. Home inspectors will tell you honestly whether or not a certain property is worth investing in.