Buying Your First Home: Look for These Red Flags

1. Do you see cracks or bowing in the foundation?

Visible cracks or bowed basement walls can indicate structural issues. Be cautious if unfinished basement walls have been freshly painted – this might be an attempt to minimize the appearance of movement or staining.

2. Was the property recently “flipped”?

A flipped home isn’t automatically a bad buy, but it’s important to keep in mind that an investor owner is focused on maximizing their profit margin. Look closely at finishes and workmanship – sloppy tiling, mismatched fixtures, or uneven paint could signal rushed repairs or overlooked maintenance.

3. Are there air fresheners throughout the home?

If a home is heavily scented, it could be masking persistent odors from pets, smoke or mildew. These smells can be difficult and expensive to fully eliminate, so it’s worth investigating further.

4. How is the home priced compared to neighborhood sales?

A home priced at the high end for its area may not leave much room for equity growth – especially if you’re planning to make improvements. Try to find homes priced closer to the middle of recent neighborhood sales.

Buying your first home is a major milestone and being informed helps you make a confident, smart investment. These are just a few examples of the red flags we’ve come across. Need help spotting other red flags during your search? Let’s connect to discuss further!

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