Buying a home is a major investment. As a result, you must make sure the property you choose is worthwhile. This is the purpose of the home inspection during the contingency period, which is the period when you can walk away from the transaction without legal recourse.
According to Fox Business, there are lots of real estates red flags to watch out for when going over the inspection results. Here are a few findings that should make home buyers think twice about a property.
Water damage and mold growth
Whether caused by a plumbing leak, a faulty roof, or flooding, water damage can wreak havoc on a home. Along with rotting out wood and ruining the flooring, water damage can also lead to mold growth. A significant allergen, mold exacerbates sneezing and congestion, while also potentially worsening asthma.
An out-of-date electrical system
Many older houses cannot accommodate newer appliances and electronics. This is because their outdated electrical systems are unable to handle the power output needs to operate new models of washing machines, microwaves, and other devices. Outdated systems can also carry an increased risk of fire, but they can cause damage to appliances.
An aging roofing system
Your roof is an essential component of your home, as it safeguards practically every other area. Most asphalt roofing systems last about 20 years, after which a replacement is usually in order. Roof replacements are expensive, and without one, you face a risk of decreased energy efficiency, water intrusion, and other issues.
In the event you are in love with the property, you can request the seller make repairs or reduce the cost to accommodate you. The seller is not obligated to make repairs, but they often choose to in an effort to keep the transaction moving along.