As a first-time home buyer in Ontario, you might feel overwhelmed by the process of finding a house—especially if you haven’t been through it before. There are some things that every buyer should watch out for when looking at potential properties, even if this is not your first home purchase. There are a few things you should look for when viewing properties, even if this isn’t your first home purchase. CondoGo will be happy to help you navigate this process. This article will cover the red flags to look for when purchasing a home.
Foundation or Structural Issues
Having trouble with the foundation of your home is one of the most expensive repairs to pay for. The foundation of your home is a key element, and if you have issues with it, you may end up paying thousands of dollars in repairs. If you're looking at homes, take time to look at the foundations.
Pest or Insect Infestations
When buying a home, potential buyers should be aware of specific areas of the home that are most likely to host insect or pest infestations with that being said, any severe pest problem should be a huge red flag. Any severe pest problem is a big red flag. Most pests, especially those that destroy wood, can cause a lot of damage to a home. Some red flags to watch out for when purchasing a home are common pests like termites and carpenter ants.
Lots of Sales in the Area
If you notice that a number of homes in the neighborhood you are looking in are for sale, this is a common sign that the neighborhood is declining. This can be helpful for you as a buyer because it gives you the opportunity to negotiate a lower price with the seller.
Sections of the House are Off-Limits
A sharp increase in the number of homes for sale in a neighborhood could signal that the crime rate is rising, amenities are shutting down, or that a highway or landfill is to be constructed nearby. These factors can be warning signs that you should pay close attention to.
After the foundation, a roof is the second most expensive home repair to fix. To identify damaged or missing shingles, mold, or rusty gutters, check for sagging ceilings, loose or missing flashing, or water leaking in through the roof. If possible, try visiting the potential property on a rainy day and see if the gutters looked blocked or if there is any water leaking in.
Not Allowing Inspections
One of the most important parts of buying a home is hiring a home inspector. Inspectors are trained to provide unbiased information about the condition of homes, so sellers and buyers can make educated decisions about the property. Buying a home is a huge commitment. It’s important to understand every aspect of the property you’re considering, and to protect yourself from hidden costs or mistakes. If a seller is open and honest, all parties involved are better served by an inspection. In some cases, it will uncover issues that are not easily visible upon initial visit.