Investing in properties can be a great way to build your wealth. Nevertheless, investing in the wrong property could end up landing you in a money hole instead. For this reason, it is essential that you thoroughly inspect a home before investing in it. Here are three things you should particularly watch out for to ensure that you won’t have to deal with costly issues down the road.
Bad smells aren’t merely confined to neglected trash cans or a garbage disposal in need of a deep clean. If you walk into a home with an offensive smell, don’t ignore it—the smell could be a sign that there are serious issues with the home, perhaps even dangerous. For example, bad odors could signify mold growth. Whereas some types of mold can be easily managed, others (like the notorious black mold) are very toxic and require professional cleaning. Pay special attention to rooms in the home that may attract moisture, like bathrooms or the basement.
Evidence of Pest Infestations
Pests can either be a nuisance, or they can wreck complete havoc on a home’s foundation. When inspecting a home, look for any indications of rodents, like droppings and gnawed wiring. Keep an eye out for standing water as well. Standing water in a home tends to attract pests, like flies and mosquitos. But most of all, check for a termite infestation by looking for damage in the wood. Termites are extremely destructive little bugs that could totally destroy the integrity of the home, landing you in a costly situation.
A property with foundational problems could quickly end up being more of a liability for you than an investment. Repairing a home with structural issues is extremely costly. That said, signs of foundational damage in a home can include major cracks in the walls and doors that don’t seem to fit properly in their door frames. Nevertheless, many signs of structural damage are hidden. Therefore, you will probably want to get an expert to inspect the home too.
While many red flags can be picked up on by a watchful eye, there are other property problems that remain hidden underneath the surface. Consequently, it may be in your best interest to get multiple opinions before investing in a new property. Seek guidance from professionals—like home inspectors and real estate agents—before you sign the dotted line.
Check out this article on how to have more peace of mind in your home!