Check for structural issues
Although it can be hard to spot when a property might not be structurally sound, there are a couple of signs which can give it away. Look out for any cracks in the plaster or brickwork because – although some can just be superficial – they could be a sign of something more serious. For example, cracks above any doors and windows could indicate a failed lintel or other structural issue which could be costly to fix later down the line. Other telling signs of structural issues include bulging or leaning walls, doors and windows that stick, dampness in lower levels and uneven floors.
In some cases, when major structural repairs are needed, you can discuss possible solutions with the seller, such as having them correct the problem or even negotiating the price of the property. If the seller refuses to help in any way, it might be worth walking away.
A ‘funny’ smell
Sometimes it can just be put down to the previous owners, but an odd smell that lingers around the house could be indicative of a bigger problem. Keep an eye out for any mould; if it’s got the all-clear on that front, it could be an issue with the plumbing or drains. If you notice lots of candles or air fresheners in every room, there’s a good chance it’s to cover something nasty, so be wary.
Some properties might sit near a body of water such as a lake or a river and experience water intrusion, which is when the water levels rise, or have underground water that occasionally makes an appearance in the basement or cellar. Signs will include visible water damage – which goes without saying – but also smells of dampness or mould growth. Water intrusion and flooding problems can be another costly problem, so you’ll want to get a price estimate for solutions before moving forward with your purchase.
The surrounding area hasn’t had great press
It might be worth doing a bit of research into any new areas you’re looking to buy a property in. For example, if there are a lot of reported crimes, or negative press about the area, it’s probably best to stay well clear. It might also be worth looking into some of the safer places to live in and looking at properties in these areas instead.
Also, it’s important to get a feel for your neighbours and if you’re wanting to live in a quieter area, it might be best to avoid properties near roads with heavy traffic. That being said, some buyers actively seek homes near to busier roads as it may mean getting a premium property for a slightly lower price. Otherwise, you could take measures to soundproof your home when you move in, such as making sure all exterior walls are well-insulated, ensuring there’s double glazing throughout the property or simply fitting heavier curtains and weathering strips on doors.
The price has recently dropped
Although you may think you’ve bagged yourself a bargain, there’s usually a good reason for a dramatic price drop on a property. The seller could just be looking for a quick sale due to personal circumstances, however it could be because the property isn’t selling and there will likely be a reason why. Make sure you ask your estate agent why the property has decreased in price and, when looking around, keep an eye out on all of those things we mentioned earlier.
Also, sellers need to be realistic when agreeing on the value of their home, taking into account how much it may cost a buyer to put issues right (if there are any) and look at what properties like theirs in their immediate location have recently sold for so they’re not pricing themselves out of the market. A lot of factors go into the appraisal of a home’s value, but usually your appraisal should come back in the ballpark of what you’ve offered for the property – so if it’s a long way off from your offered price, this should raise a red flag.
