First Time Homebuyers: Problems to Look Out For

The good news is that the housing market in the US is on the rise. The bad news is that more and more first-time homebuyers are deciding to take the plunge and purchase a property without doing the proper research in advance.

In most cases, a savvy real estate agent can protect you from investing in a property that will cost you more than it’s worth. But as a first-time homebuyer, it’s important to do your homework to look out for any red flags that could signal a bigger issue in a home that you’re considering.

Ask yourself these helpful questions before signing on the dotted line to buy a new home:

1. Is it too good to be true? If you found the perfect home in the perfect neighborhood at the perfect price, you may need to take a step back and better assess the property. For this purpose, appraisers and inspectors can provide you with valuable information to determine if a cheap yet attractive house has any underlying issues that could be expensive to repair in the future.
2. Is the foundation in good condition? One of the simplest ways to check a home’s foundation is by dropping a marble on the floor to see how quickly it rolls in one direction. A sloping floor could indicate serious foundation issues that will cost a significant chunk of change to fix. When in doubt, consult with a structural engineer beyond a basic home inspection.
3. Has it been checked for termites? Any home on the market should be thoroughly inspected for signs of a termite infestation to determine that the home’s structure is in good condition. No matter where you live in the US, this rule still applies; termites can be found in any state, even Alaska. A quick termite inspection from an Alabama pest control company could take up to 45 minutes and will provide you with the seal of approval that you need to move forward in buying a home.
4. Is the home in a good location? Depending on the area, you may be interested in a home with a beautiful scenic view that overlooks a canyon or lake. However, homes in unique locations need to be assessed by a geological expert to determine if they have been properly built to withstand rain and snow that could cause changes in the soil. A home on a hill should be approved by a geotechnical engineer before making a final purchase to confirm that there isn’t any risk of earth movement.