5 Red Flags on a Home Inspection Report

Credit: Nolan Isaac via Unsplash A major step in the home-buying process is getting a home you are interested in buying inspected by a professional home inspector. This process ensures that you know exactly what the issues with the home are, and that you are able to make an educated decision on whether to accept the condition, negotiate for repairs or credits, or walk away altogether. This article walks you through 5 red flags to watch out for on the home inspection report of your potential home that shouldn’t be ignored.   Disclaimer: It is advisable for interested parties, whether engaged in purchasing or selling, to consult with a certified and insured home inspector, in addition to seeking counsel from their designated real estate agent.   Structural damage: Credit: Unsplash Structural damage can be caused by high winds, seismic activity, or flooding in a home and can pose a major issue for the future of the house. Damage to any part of the structure of your home, whether it be load-bearing walls, the roof, or the foundation, can eventually lead to the stability of the home. Damage in the foundation is especially detrimental to a home and can be irreversible. It is crucial to understand the extent of structural damage in the home as well as the cost to return the home to building code and safety standards.   Water damage: Credit: Nolan Isaac via Unsplash Water damage in a home can come from external sources (floods, hurricanes, tornadoes, etc.) or internal (leaky plumbing or a leaky roof). If water leakage is not quickly fixed, it can lead to long-term damage which can include flooded drywall, warped wood and flooring, and the growth of fungus and mold. At its most extreme, water damage can cause a home to need to be gutted and redone completely. Do not overlook water damage in a home inspection report and avoid paying for it later. If water damage was present and remediated, make sure you receive documentation of it from the homeowner (or yourself if you’ve had the work completed).    Mold: Credit: Unsplash Caused by moisture and water in a home, mold can pose serious health risks. There is an array of different kinds of mold that can grow on almost any surface, from under carpets, in insulation, in attics and basements, and in walls. If mold is in an unseen location, it can grow rapidly and spread throughout the home. Removal of widespread mold can be an extremely costly endeavor, and it is important to take this into consideration when looking at your home inspection report. It’s important to note that nearly all homes will have mold, however, the different species and amount can determine if remediation is required. Like with water damage remediation, get documentation from the homeowner (or yourself if you’ve had the work completed).    Electrical Issues: Credit: Unsplash Electrical issues in a home can vary from heat-producing outlets, flickering lights, aluminum wiring, improperly grounded lines, or counterfeit electrical devices. Although these problems can seem small at first, it can be costly to replace and redo flawed electrical work or even rewire the home in the worst-case scenario. Without being fixed, electrical problems can lead to high energy bills or, in the worst case, a fire.   Pests: Credit: Unsplash Pests may be small, but can be quite problemsome for a house. Pests include carpenter ants, termites, cockroaches, mice, moths, and spiders among others. Wood-destroying insects such as termites are especially damaging and can eat away at the structural integrity of your home. Mice can chew at electrical and create other health problems. Exterminating pests can be very costly, toxic, and in some cases, present larger structural issues that you want to avoid. Annual extermination for ants and spiders is normal, however, look for large infestations to understand the scale of the problem.

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4 Questions All Home Buyers Should Ask Themselves

Buying a home is one of the most exciting and biggest financial decisions a person can make. There is a lot to consider when choosing a home, and it can be overwhelming to know what to prioritize. Because let’s be honest, unless you are building a home from scratch or come across a unicorn property, you won’t get everything you’re looking for.  First-time home buyers especially need to remember that their choices may typically be limited. It’s crucial that buyers answer these 4 questions when purchasing a home to help them find a home that aligns with their goals and needs.   1. What are my basic needs? Credit: Borta Consider your basic needs in a home: factors such as the number of bedrooms and bathrooms, square footage, layout, and any detail that fits your lifestyle (i.e. office for remote work, classroom space for homeschooling, yard for pets, or garage). Identifying these non-negotiable needs will help you filter out properties that automatically don’t meet your basic requirements.   2. What are my long-term goals? Credit: Unseen Studio Think about your future plans. Are you looking for a starter home that you'll eventually outgrow, or are you searching for a property where you can settle down long-term? Consider factors like school districts, proximity to work or family, potential for resale value, and the overall neighborhood's development trends.  Many first-time home buyers would benefit from looking at their first home purchase as an investment in their future rather than their dream home. They can rent their first home once they outgrow it to generate income, or sell it to use the equity gained to purchase the next home.   3. What kind of lifestyle do I want? Credit: Los Muertos Crew Think about the lifestyle you want to lead in your new home. Are you an outdoor enthusiast who wants to be close to parks, trails, or other recreation? Do you value proximity to entertainment and dining? Do you want to be at home making memories? Consider nearby shopping centers, public transportation, fitness facilities, schools, and commute times that align with your interests and daily routines. Being clear on what you value being close to helps your agent focus on the areas that work best for you. Work with a realtor knowledgeable in the areas you want to be in. If you aren’t sure yet, schedule a relocation consultation to get to know popular areas. Click here for a complimentary guide to explore Boise!   4. What’s my budget? Establish a realistic budget based on your financial situation, including your down payment, monthly mortgage payment, property taxes, insurance, and potential maintenance costs. Determine if you're willing to stretch your budget slightly for a property that offers significant value or features, but also set clear limits to avoid overextending yourself.    By answering these four questions thoughtfully, you'll be able to create a comprehensive "must-have" buying list that prioritizes your needs, aligns with your long-term goals, enhances your desired lifestyle, and falls within your budget. This list will serve as a valuable guide as you navigate the home-buying process and evaluate potential properties.    

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Avoid These 4 Common Mistakes When Selling Your Home

Selling a home is a significant financial and emotional undertaking, and avoiding common pitfalls can make the process smoother and lead to a successful outcome. To help you navigate the real estate market successfully, here are four mistakes that sellers often make and how to steer clear of them.   Kicking First Impressions to the Curb:                   Credit: Curtis Adams First impressions matter, especially when it comes to selling your home. Neglecting the exterior of your home can turn away potential buyers before they even step inside. Overgrown lawns, peeling paint, and cluttered driveways can create a negative perception of your property. Invest time and effort into enhancing your home's curb appeal by maintaining the landscaping, freshening up the paint, and tidying up the entrance. Remember, a well-maintained exterior signals that the interior is likely well-cared for too.   Overpricing Your Home:   Setting an unrealistic price for your property can deter potential buyers and lead to extended time on the market. While it's natural to want to maximize your profit, it's essential to research and analyze comparable properties in your area to determine a competitive price point. An experienced realtor can provide valuable insights and help you arrive at a fair and attractive asking price that will generate serious interest and ultimately offers.    Neglecting Repairs and Updates:                       Credit: Ksenia Chernaya Buyers are often looking for move-in-ready homes, and neglecting maintenance repairs and updates will cause buyers to wonder how well the home has been cared for. While major renovations might not be necessary, addressing minor repairs, such as leaky faucets, cracked tiles, or peeling paint can significantly improve your home's appeal. Additionally, consider making strategic updates, such as fresh paint, modern fixtures, or updated flooring to make your property more appealing to a broader range of potential buyers, and in some cases boost its value.   Poor Presentation:                       Credit: Ksenia Chernaya Failing to present your home in its best light can hinder your selling efforts. Cluttered spaces, overly personalized decor, and poor staging can make it difficult for buyers to envision themselves living in the property. Prior to listing your home, declutter and depersonalize by about 30%, allowing buyers to focus on the features and potential of the space. Professional staging further enhances your home’s appeal by neutralizing the home and helps buyers see the possibilities of living there, and typically yields a higher offer.   Selling your home successfully involves more than just placing a "For Sale" sign in the yard. By avoiding these common mistakes, you can increase your chances of attracting interested buyers, receiving competitive offers, and having a successful sale. Take the time to invest in your property's presentation, pricing, and maintenance, and enlist the guidance of a qualified real estate professional to navigate the process with confidence. Remember, a well-prepared and well-presented home can make all the difference in achieving a quick and profitable sale in any market. 

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