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5 Signs a Home is Going to be a Money Pit

(3-min read)

For most people, buying a home is the most significant investment of their life. This makes the buying process something not to be entered into lightly. Even though the scariest houses have been transformed into dream homes, you don’t want to end up trapped in a money pit. There are a handful of signs that the house you’re looking to buy is going to be a third-degree migraine. 

1. The Electric System is Outdated or Downright Scary

While the electrical infrastructure of a house can be upgraded, fixed, or totally replaced, it’s definitely not going to be cheap. When touring a house that you’re considering buying, pay close attention to fixtures and outlets. Are the electrical outlets grounded (two holes vs. three)? If they’re not, this is just a telltale sign that the rest of the house’s electric system is in near shambles. Ask to see the electrical service panel. If the sight of it makes you uncomfortable, this does not bode well for its future. 

2. Telltale Signs of Structure Issues

The wise man built his house upon the rock, but if the home you’re looking at is crumbing, your bank balance will be too by the time you fix the home’s foundation. Look around the outside of the house and especially the basement. Take special note of any cracks you find and their placement. Walking through the home, check to see how easily doors open and close. A door that sticks or doesn’t close completely is an indicator that the foundation likely has significant issues. 

3. Old or Substandard Plumbing

When looking at a house you’re considering buying, ask about the plumbing. When was the last time the pipes were changed? What are they made of? If the water is turned on, you may be able to conduct some tests of your own. Find the bathroom most distant from the water heater. Crank the bathtub water on thoroughly followed by the bathroom sink and then flush the toilet. Look to see if the bathtub water slows down. If so, you’re likely looking at needing new plumbing. 

4. Signs of Water Damage

While you’re in the basement or walking along the outside of the house inspecting the foundation, keep an eye out of signs of water damage. Warped materials, watermarks, and other signs of moisture may indicate water damage. This damage may be insignificant, but could also spell expensive mold removal. 

5. The Roof is in Rough Shape

Remember to inquire about the roof. If the roof looks rough, you may have more than just a new roof to pay for. A leaky roof can lead to water damage that may not be visible until it’s too late. 

If you don’t want to take your chances with a potential money pit, perhaps a new custom home build is what the doctor ordered. The home building professionals from Perry Hood Properties are excited to work with you to help you build the home of your dreams. 

Tell me more about building a new home with Perry Hood Properties.