Buying a new Franklin home is one of the most important decisions in a person’s life, and the results of that decision can affect them for a long time to come. For that reason, home buyers need to be sure that the home they’re buying is everything it’s supposed to be. There are some homes on the market that aren’t as good of a buy as they seem. Fortunately, these types of homes often have visible red flags that buyers can identify if they know what to look for. Here are some of the most common red flags a home can have and what they can mean.
Unusually Low Prices
Everyone loves finding a great deal, whether they’re shopping for groceries or looking for a new home to spend their life in. However, finding a home at a great discount isn’t like finding a buy-one-get-one sale on canned green beans. An incredibly low price on a home can be a big red flag because the seller is desperate to sell the home. This can be a sign that the home was difficult to sell at the average fair price, which can in turn mean there was something wrong with the home. If this ends up being the case, the buyer can end up having to pay more on fixing the home than they saved in the sale.
The Home Has Signs of Insects
A pest infestation is one of the worst things a homeowner can find in their home. Infestations can cause a lot of damage to a home, and in some cases, make the home uninhabitable. Some homeowners may even decide to sell their home after discovering their home has a cockroach infestation. Infestations are most commonly associated with insects, but mammals like rodents can also infest a home. Here are some signs of infestation:
- Fecal matter
- Shed skins
- Egg shells
- Chew marks
- Bad odors
Keeping an eye out for signs like these can be extremely helpful to avoid buying a home that has a lot of extra residents.
Everyone Is Leaving the Neighborhood
It’s common to see multiple homes for sale in the same neighborhood, especially during popular moving seasons. However, buyers should be concerned when they see a lot of homes for sale in one neighborhood. If it seems like there’s a mass exodus, it can be a red flag because it may mean that something is driving the people out. This can be something like increasing property taxes or something being built nearby such as a large freeway or busy shopping center.
Limited Pictures on Listings
The first time a buyer sees a home, it isn’t likely that they’re seeing it in person. Listings are the most popular way to look for homes for sale, and they provide a lot of information, and typically, a lot of photos. When a listing doesn’t have very many photos, it can be a sign that the seller is trying to hide something from buyers. Buyers who set up a showing appointment for a home that has no photos don’t know what to expect, and they can arrive at the home to discover the reason for the lack of photos is extreme water damage or another form of neglect or deferred maintenance. Buyers should always be cautious when setting up viewing times for homes they can’t find many pictures of.
All buyers need to be aware of red flags when they’re looking for a new home. Knowing the signs of a bad purchase can help prevent a bad investment and all the hardship that comes with it.