You have found the perfect fixer-upper – imagining what each room could look like with a fresh coat of paint and some upgrades. The reality, however, is that if you walk into buying a fixer-upper blindly, it might not be the dreamy outcome you hoped for but a neverending money pit.
Here are 4 red flags you need to keep an eye out for when buying a fixer-upper:
1. Water Damage
Take your time when viewing the property to really check for water damage. Look for water stains on the ceilings and around the interior baseboards and trims of the home. If you can smell damp and mildew, you know that there is water damage that might not be visible.
2. Structural Issues
Foundations can be expensive to fix which is why it’s important to look for any signs of structural damage — sloping floors, cracks in the ceiling, and windows and doors that won’t open or close properly.
3. Roofing Issues
Not every house will have a brand-new roof but it should be in decent condition. A roof can cost thousands to replace, and if it hasn’t been maintained, it can result in issues down the road.
4. Electrical or Plumbing that Isn’t Compliant
If the home has been standing empty for a long time, your best bet would be to have electricians and plumbers come out and do an inspection for you. In newer homes, you should ask for the compliance certificates of the electrical work and plumbing to avoid costly issues later on.
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