Red Flags to Look For When Buying a Home

3 Red Flags Buyers Need to Know When Buying a New HomeBuying a new home is a big decision for anyone, and all buyers want to be confident that they’re getting a good home and aren’t being taken advantage of. It’s good for all buyers to know the different red flags that may occur when looking for a home to buy so they can avoid bad deals before they occur. There are many little things that all add up and can potentially mean a home isn’t as it appears to be. Here are some of the different red flags home buyers need to be on the lookout for to protect themselves from a bad investment.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

1. There are Strong Artificial Smells in the Home

Air quality is something that homeowners worry about when preparing to show a home because no one wants to live in a home that smells bad. However, if a home smells very strongly of artificial perfumes and air fresheners, this could be a red flag. For example, the smell of cigarette smoke can be very difficult to remove from a home, and if a homeowner is unable to remove it before selling, they may instead just try to hide it with stronger, more pleasant fragrances. For the buyer, this means having to deal with the smell on their own, which can be time consuming, expensive, and something they didn’t know they were getting with the home.

2. The Price is Unusually Low

The saying goes that if something is too good to be true, it is, and this extends to homes as well. When a homeowner reduces the price of their home drastically, it can be a big red flag. Drastic price changes can mean that the homeowner is desperate to sell the home, and if it’s been on the market for a long time before the change, that can be a sign that  there is something wrong with the home that prevented it from being purchased already. If a homeowner finds a home that is a fantastic deal and wants to purchase it, they need to be aware of the risk involved and ensure that they have it thoroughly inspected before committing to it.

3. The Current Homeowners Won’t Show Permits

When making additions to a home or doing large remodeling projects, homeowners need to get a permit in order for it to be done legally. However, permits can be expensive, and some homeowners choose to go forward without them. Buyers should always ask to see the permits for any sort of remodel or addition made to the home, and if the owner doesn’t can’t show them, it means a lot of problems for the next owner of the home. 

Not only is the Kenai new home buyer responsible for getting the permits should they choose to purchase the home, which can be expensive, but they’ll have to face other consequences that can potentially be drastic. For instance, the city can order that the addition needs to be torn down completely, or the homeowner may be ordered to re-remodel in order to fix mistakes and ensure that everything is up to code. Plus, if something happens to the home because of the addition and the homeowner can’t produce a permit, insurance will often use that as a way to refuse service. 

There are many red flags to consider when looking for a new home to buy.  These are just some of the different examples, but be sure to talk to a real estate agent when looking at homes and ask them for advice, because no one wants to be stuck with a home that wasn’t as advertised.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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