Sometimes the heart rules the head when you’re shopping for a home, causing you to fall in love with a house that’s a bad buy. A good real estate agent will protect you from a lousy deal, but you need to do your own due diligence as well. Here are some danger signs to watch for.
#1: Location, location, location
“You can change almost anything else about a property, but you can’t change location,” says Peggy Blair of Ottawa’s Royal LePage Team Realty. “If it’s on a noisy, busy street, or beside a towering apartment building with no privacy, or next door to a biker clubhouse, it doesn’t matter how well it’s priced: you’re going to have problems on resale.”
#2: The neglected home
Signs that the home has not been well-maintained range from dirty furnace filters (an improperly maintained furnace can be pricey to fix or replace) to flaking exterior paint (is there wood rot present?). If you spot signs like this, be on your guard. And while most homeowners probably won’t have a maintenance log, if someone does you know the home has enjoyed TLC.
#3: Shifting sands
“Cracks in foundations and doors that do not open are a sign of shifting,” says Nancy O’Dea of Ottawa-based Exceptional Properties/Royal LePage Performance Realty. A shifting house is probably not one you want anything to do with because repairs to foundations and other structural elements can run into tens of thousands of dollars.
You could hire a structural engineer to investigate the problem and assess the cost of fixing it, but you might be best to walk away from the home.
#4: Faulty plumbing
Plumbing problems can be difficult to detect, but you should at least turn on all the taps to ensure there’s good water pressure and see how quickly the sinks and shower drain. Check if the toilet operates properly by flushing it a couple of times (don’t be shy – it’s your money on the line!). And don’t forget to check the age of the water heater and determine if it’s a rental or goes with the home; if it’s the latter and needs replacement, you’re on the hook for hundreds of dollars or more.
If everything about the house checks out except the plumbing, hire a plumber to give you a cost estimate on repairs.
#5: Leaky basements
If the basement smells musty, if you can see efflorescence (white patches) on the walls, or if you spot water damage to drywall or even damp or wet floors, there’s likely an issue with water getting in, says Blair.
“You need to know what’s causing it. Is it underground seepage? A foundation crack? Weeping tile problems? Grading issues? It can be something as simple as a downspout in the wrong place or landscaping that slopes into the house instead of away from it, but you need to know what you’re getting into. Major foundation work can cost tens of thousands of dollars and insurance doesn’t always cover seepage.”
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