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Buying a house – beware the red flags
Category Property News
Do not make an emotional decision
Buying a new home can be overwhelming and with so much information during a viewing it is possible to miss important details.
“Certain imperfections may not be perceived as problems by all buyers, with many being happy to fix small problems once they have moved in, there are a number of issues that cannot be overlooked,” warns Sandy Geffen, executive director of Sotheby’s International Realty South Africa. This can be a very costly mistake which buyers have not budgeted for.
Foundation and structural faults. This is the most important part of the entire structure and extremely costly to repair. Minor cracking may only be a sign of settling in the home but large cracks can indicate serious structural problems.
Check the basement if there is one, if not look at door frames throughout the home. If these don’t appear to be square or the doors seem to have difficulty closing, it’s possible that the home has structural problems. If you’re unsure, ask for a structural survey before proceeding.
Poor drainage and gradient. Most water problems in a home are directly related to poor drainage or gradient but it’s not always easily detected. The most obvious sign of poor drainage is pooling water, but another is a bouncy bathroom floor that can be evidence of hidden damage such as a leaking shower drain.
If the yard has mini lakes or continually muddy patches it likely has poor drainage, which can also lead to water problems inside the home. Other signs of poor drainage can include overflowing gutters, migrating mulch in the flower beds, water stains on basement walls and cracks in the foundation.
Rising damp is best spotted on the exterior. If there are paint bubbles on outside walls it can indicate that a proper damp course was not added during building. This is much more difficult to fix later. Also look out for black mould or brown patches on ceilings which are normally a sign of a leaking roof. It is advisable to even check roof tiles which are out of alignment as this could spell trouble in future. Always ask the agent about the ages of the roof and the geyser. Check for spots of new paint where the owner may have tried to hide damp.
Check the water bill and you will know if the pool is leaking, especially on older properties. You may request a structural soundness report on the pool.
Electrical wiring. House fires caused by faulty electrical wiring are not as uncommon as one would like to believe, says Geffen, especially in older homes that often don’t have the ample supply of power and number of electrical outlets of more modern homes. Where there are extensions cords running from room to room, be aware if the home is older. Exposed electrical wires are often the result of DIY repairs. This is high priority and should be corrected by a licensed electrician.
Poor overall neighbourhood condition. It’s important to remember that when you are buying a home, you aren’t only buying the specific home says Geffen, you are also investing in the neighbourhood. Buying a home in a deteriorating and unkempt suburb that has increasing criminal activity can be a costly mistake and will significantly diminish return on investment. You should look for signs of boarded up or empty properties and a high number of vacant homes or shops in the area.
Leaders in the estate industry are warning sellers that in the current tough SA market it is imperative for owners to eradicate problems on their properties before putting them up for sale. Any problems such as mentioned above will definitely reduce the asking price.
Author: Lew Geffen Sotheby's International Realty