5 Major Property Concerns When Buying A House

5 Major Property Concerns When Buying A House

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Buying a house represents the single biggest investment most people will ever make in their lifetimes. In light of that, buyers need to make every effort to satisfy their own concerns over the condition of a prospective property. If there are any questions at all, it's better to dig for the answers than sign a deal that could come back to haunt the buyer later on.

When purchasing a house, there are five major property concerns that suggest caution:

1. Cracks in the Foundation

The foundation of a home is arguably its most important component. As the foundation goes, so does the rest of the property. If visible cracks are seen in a home's foundation, they could be nothing more than the result of decades of normal wear and tear. But they could also signify major problems that are not necessarily seen with the naked eye. An experienced home inspector will know if foundation cracks need to be further investigated.

2. Water in the Basement

Hand-in-hand with foundation cracks is a propensity for the basement to collect water. Having water in the basement once or twice per year during excessively heavy periods of rainfall is not abnormal in the Northeast, especially here in New York. However, a basement that is constantly wet signifies a much bigger problem that could involve both drainage and the foundation itself.

3. Roof Leaks or Excessive Wear

The roof of a home is the second most critical component – especially here in the Northeast where the weather is terribly unpredictable. Buyers should be concerned if signs of roof leaks can be seen inside the home. They should also be concerned if they step back from the exterior and notice excessive wear on roofing tiles and flashing.

4. The Presence of Mold

Any kind of visible mold is an immediate red flag and cause for much concern. The problem with mold is that once it appears on a wall, for example, it has already thoroughly embedded itself in that surface. If minor mold problems are allowed to become major problems, the only solution is often to gut the house completely and refinish it.

5. Outdated Electrical Systems

Modern living requires upgraded electrical systems to keep up with all our electronic devices. An outdated system with an old fuse-based panel is a concern, as are electrical systems with tube and knob wiring. Outdated electrical systems also tend to be limited in terms of the number available outlets. This can present a dangerous situation by forcing the new homeowner to make extensive use of extension cords and splitters.

The five concerns listed here are not necessarily automatic deal breakers. They are areas that warrant a bit more research before making a purchase decision. In cases where research does reveal serious problems, the prospective buyer has to consider dealing with those issues or including repairs as contingencies in a purchase offer.

Charles D’Agostino Headshot
Phone: 516-721-8885
Dated: December 22nd 2016
Views: 1,306
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