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  • Home
  • MLS SEARCH
  • About ME
  • BUYING & SELLING
  • TOOLS
  • GUIDANCE
    • 5 COSTLY MISTAKES
    • WHY USE A REALTOR
    • INTEREST SAVING TIPS
    • AVOIDING A MONEY PIT
    • SEARCH NOW
    • MARKET UPDATES
  • Contact

HOW TO AVOID A MONEY PIT

6 WARNING SIGNS THAT COULD MEAN EXPENSIVE REPAIRS!

 

Sometimes it can be easy to spot an issue with a property like if a roof is leaking and you can see water on the ceiling or if the floors are slanted and you know the foundation has shifted. Other times it won’t be so easy. The main thing to help you out is to get a professional home inspector to check the property before it firms up, but here are a few pointers for you to check out yourself!


1. ROOF

It is often difficult to assess if a roof has come to the end of its operational life. The outside of it may not show many signs of wear, however if you are able to get into the attic you will be able to see where there have been leaks by noticing water marks on the ceiling.


2. PLUMBING SYSTEM

Make sure that you are confident with the systems that bring fresh water into your home as well as the system that takes water away. This is definitely a much more serious inspection issue when you are on a rural property with a well and a septic system that you have to maintain as opposed to municipally supplied water and sewers.


3. ELECTRICAL SYSTEMS

The last thing you need is to get into the kitchen, plug in your appliances and realize there isn’t enough power to run your dishwasher and blender at the same time! How will you ever make a margarita while washing dishes? Always make sure there is enough power to operate whatever you need, a way to do this is to turn on ALL the appliances and electrical fixtures in the home and make sure you don’t have a power outage. You will also want to make sure that the electrical panel is inspected for any fire hazards BEFORE you sign on the dotted line!


4. HEATING AND COOLING SYSTEMS

Be sure to thoroughly inspect heating and cooling systems before buying a home. Checking the age of a furnace or A/C unit and knowing what the expected life of them is a good start. You will also want to turn both units on to ensure they are operational!


5. BAD PAINT AND SIGNS OF ROTTING

The paint on the inside and outside of a home can reveal a lot about the condition of the material that lies beneath. Make sure you inspect areas very closely for signs of chipping or peeling paint as this can indicate a more serious issue.


6. CRACKS AND OTHER IMPORTANT SIGNS

Uneven floors are not the only thing that could indicate a foundation issue. When walking through a home keep your eyes peeled for other telltale signs like doors that don’t open and close properly, cracks along walls (interior and exterior) and slabs, and bowed foundation walls. A foundation issue doesn’t always mean a house is no longer something to purchase, you could potentially use the information to negotiate a better price, or you could ask the seller to rectify the problem before you firm up or close the deal.


Keeping these tips in mind will give you more confidence in the purchase of your new home !


Call Me Today To Get Into Your Dream Home Tomorrow

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George Nikopoulos Realtor

georgenik@royallepage.ca

(647) 290-2460

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