For decades, owning a home has been part of the American Dream and the time has never been better to buy a home now. For many, a home purchase represents the largest expense of a lifetime and looking before leaping is a crucial step for the process. Consumers have to take the precautionary moves to avoid costly yet common mortgage mistakes and due diligence is an important step in the home selection process. Potential buyers can feel free to marvel at the size, design and amenities featured with a property but also to get down to basics and look at a home's structure before signing on the dotted line.
When browsing for homes it is very easy to get caught up in a fantasy regarding building a family, hosting parties and color pallets for decor, but none of those dreams can be comfortably fulfilled if the house is not structurally sound to begin with. Prior to signing on the dotted line, home buyers need to invest the money into a qualified home inspection by a licensed professional. It is this process that will indicate the mechanical and structural condition of a property and indicate whether a home is a 'money pit' (a home that will require huge financial investments to repair or maintain) or a sound investment.
Check the Home's Foundation
What a home is built on is more important than the number of bedrooms and bathrooms, if the base on which the structure rests is weak, the home can be in jeopardy. Flash floods like the ones common in La Granada, California, twisters in tornado alley and other natural disasters can easily level homes that are not built on structurally sound foundations, and potential borrowers should make sure their review process pays special attention to this vital portion of an infrastructure.
Checking out the current condition and surroundings of a home can find telltale signs that a foundation is at risk for future compromise. According to MSN.com, trees (both size and proximity) may cause problems down the line. As they grow, the roots can wreak havoc and damage an otherwise sound foundation. Cracks and gaps may be indicators of root damage and other flaws that may cause problems down the line.
Inspect the Basement
While some states, such as Florida and California are known for having few homes with basements, the feature is still an extremely popular feature in plenty of the nation's homes. According to contractor Bradley B. Cruickshank, of Atlanta Georgia, basement inspection can indicate the "... type of construction, quality of materials and evidence of the quality of tradesmen who built it." (MSN.com). These factors can help gauge potential risks down the line. Additionally, this is the space where major house staples like furnaces and water heaters are kept and checking those units should always be part of any home inspection process.
Look For Water Damage
Not only should potential home buyers check out the water pressure (for comfy showers), quality (to ensure that clean drinking water is not an issue) and the function of the water heater, consumers need to also look for any signs of water damage. While signs of staining, mildew or tiny leaks may seem minute, they can be larger indicators of serious problems that require tens of thousands of dollars to repair. Roof repair, mold removal and floorboard replacement are only a handful of costly repairs triggered by water damage.
If any of those conditions are found during the inspection process, a home buyer needs to speak up now or risk being saddled with the burden down the line. Home buyers have the most power during the earliest stages of a home negotiation and if conditions like that are discovered (but can still be managed according the feedback of an independent inspector), it may be possible to demand that the home sellers either repair the damage before the property changes hand, reduce the price to accommodate the repair expenses at a future date or require a purchase of a homeowner warranty.
