You’ve spoken to your lender and are excited to be pre approved to start your home search. Once you start touring homes available with your trusted real estate advisor / agent, you may be focused on the size of the bedrooms, kitchen or square footage of the house, however there are many other attributes to a home that are extremely important to consider.
You will need to know which things to look for when buying a house to ensure you are making a solid real estate investment.
Properties that have major problems will need costly repairs, lets review a few.
1. The age of the house, what is the age and condition of the roof ? Depending on the age of the roof you maybe required to replace the roof shortly after purchasing the home. A roof replacement is costly.
2. Termite Damage and Foundation Condition.
Termite damage can ruin a property and cause extremely costly repairs as can damage to a foundation. Look for signs of cracking which may indicate a problem.
3. Flooding / Water
Pay close attention to any signs of water damage in the basement, you may find the perfect home will turn out to be a costly mistake if the property takes on water. If the property is in close proximity to the water you may require flood insurance.
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