Jul 11, 2017
8 signs it’s time to walk away (or maybe run) from a home
ANY TOWN – It happens: You’re buying a home, but something just doesn’t feel right. Are you just getting cold feet—after all, this is likely the biggest purchase of your life—or is...
ANY TOWN – It happens: You’re buying a home, but something just doesn’t feel right.
Are you just getting cold feet—after all, this is likely the biggest purchase of your life—or is that lingering worry telling you those yellow (or, dare we say, red) flags should be a deal breaker?
There are eight signs (but below are four) that you would probably be smart to walk away from a house. (You can thank REALTOR.com later.)
Sign No. 1: The inspection turns up something majorly wrong.
Cosmetic issues are relatively easy to fix compared with, say, a vintage electrical system that’s one spark away from a fire.
Don’t ever, ever (ever!) ignore something major on the inspection report, such as sagging floors, cracks in the wall, or roof or drainage issues, says Christopher Bourland, senior appraiser at Mid-Atlantic Valuation Group in Wayne, Penn.
Sign No. 5:You suspect your home might be environmentally contaminated.
Just like we know that a steady diet of cigarettes, Chicken McNuggets, and Red Bull is unhealthy, we also know a lot more these days about what building materials can cause health issues.
Homes constructed from the early 1940s to the 1970s might contain asbestos or lead-based paint, both of which are responsible for all kinds of serious health problems.
Other environmental issues could include a faulty septic system which can contaminate drinking water, or mold issues stemming from building materials such as stucco or siding, Bourland says.
Sign No. 6: The Neighbors. Are. The. Worst.
So maybe you’re not moving in next to an actual fraternity house, but that doesn’t mean your neighbors don’t party like rock stars. Or have outdoor dogs that are always barking. Or indulge in strange hobbies.
Those terrible neighbors could not only make your life miserable, they could also affect resale value if and when you decide to move, says Evan Harris, co-founder and CEO of SD Equity Partners in San Diego.
Suss out potential problems with neighbors byvisiting the house at different days and times, Harris suggests. That way you’ll know if you’ll need earplugs to deal with a next-door band practice on Tuesday nights.
Sign No. 7:You’re not in love with the neighborhood
It’s easy to fall in love with a home and dismiss the concerns you have with its location.
Maybe the house is near a sewage plant or waste dump. Maybe it’s too close to a freeway or airport. Or maybe the neighborhood feels just a little too gritty.
Or maybe the location is great now, but is in the path of future freeways, neighborhood expansions, or a new shopping mall.
“What looks like a piece of paradise might be slated to become a concrete jungle,” says environmental designer Pablo Solomon.
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