Buying a new home is an expense that should not be taken lightly. If you can’t afford the house of your dreams, you may be tempted to create it – buy a house that needs work at a lower price and upgrade it according to your taste. This is an excellent solution for many people, and the home even sells at a profit later. But not everyone is that lucky. That’s why you need to be mindful of warning signs your Winston Salem home is a money pit. But what are they, and how can you spot them?
Warning signs your Winston Salem home is a money pit to watch out for before buying
Sometimes, you won’t notice that a house requires more work than it’s worth until you’ve already bought it. But whenever possible, it’s best not to make a bad investment in the first place. So, keep an eye out for these warning signs while you’re still in the market:
An “as is” listing
There are many reasons why someone might sell their Winston Salem home as is – they might not have the time or money to make any changes. But, more often than not, this is a sign that the property needs work and a lot of it. So, if you see that a house is being sold “as is”, make sure to check it out in person and take a contractor with you if possible. That’s the only way to know if the necessary repairs are within your budget or not.
A bad smell is not necessarily a problem. But it is often a sign of much bigger issues. Mold, asbestos, dust, rot, gas leaks, etc., often leave a noticeable smell in an enclosed space like a house. They can be challenging and expensive to get rid of and are, in most cases, dangerous after prolonged exposure. So, if a house smells bad, be extra mindful of potential problems.
Issues with walls and floors
Houses change shape over time as they settle, so some deformation to walls or floors is to be expected, especially with older buildings. But if the structure has changed to the point where you can see warping walls and sloping floors, it’s best to look for another home. Such drastic changes are typically the consequence of severe issues with the foundation, water damage, or poor construction. Fixing these issues can set you back tens of thousands of dollars. So, think twice!
A good foundation is a must. If it is unstable or has suffered damage, the rest of the house will follow suit. There’s really no better sign that a Winston Salem house is not worth the trouble than problems with the foundation. So, stay far away from homes with cracks in the floors and walls, uneven floors, and doors separating from the walls.
Warning signs your Winston Salem home is a money pit to keep an eye out for after buying
If you miss the warning signs and end up purchasing the wrong home, realizing your mistake sooner rather than later can save you tons of money. Then, you can sell the home yourself or tear it down in preparation for rebuilding before you’ve sunk a small fortune into it. So, be extra mindful of the following problems after moving in:
Wiring and plumbing problems
If you notice lights flickering, sparks shooting out of appliances, or water dripping excessively out of taps, then it might be time to hire long-distance movers and relocate far away to another part of North Carolina. Outdated wiring and plumbing are serious issues that should never be ignored. It doesn’t take much for an electrical fire to start or a pipe to burst. When that happens, both you and your home could be in danger. And more often than not, you need to replace the entire system to fix the problem.
Stuck doors and windows
Some doors and windows, especially in old homes, require a lot of elbow grease just to open and close. If this is the case for one window or one door, it’s probably not a big deal. But if you have this issue throughout the house, you’re in trouble. Windows that don’t close properly will make it difficult to maintain the temperature in the home and can cost you a lot in electricity bills. Doors that don’t close properly could be a safety risk. Not to mention, it can be very annoying to deal with stuck doors and windows. Replacing them can cost a fortune, and that’s if you’re lucky. These issues could also be a sign of problems with the foundation – something that you can’t fix easily. All in all, they’re a pricey and irritating flaw that you should avoid if you can.
Infestations of harmful insects like termites, cockroaches, and even some types of ants are not just unappealing; they’re a potential health hazard. While it is possible to fumigate the home and get rid of insects, that’s usually just a temporary solution. Whatever brought them into the house in the first place is likely to bring them back. Your best bet is to find a better location. But if the infestation is so bad that potential buyers can see it, then these uninvited guests can become the reason you can’t sell your house. In such cases, you will need to deal with the problem before listing.
Where and when to look for signs your Winston Salem home is a money pit?
You can find signs your Winston Salem home is a money pit at any stage of ownership, from the first viewing to years into living in the house. The best way to avoid them is to be thorough when examining the property. If you’re still in the market, make sure to visit every house you’re considering and get professionals to appraise the properties you like best. Ask the current owners for maintenance records too. If you’ve already bought the house, do your best to maintain it well, renovating or remodeling when necessary. Remember – it’s possible to solve most problems if you spot them in time!