Buying a house is a big and expensive decision, and considering a home with discretion is important. Depending on the person, red flags may differ somewhat, but it is essential to be honest about what qualifies as a deal breaker when buying a house. Let’s take a deep dive into red flag when buying a house.
What is a Red Flag When Buying a House?
Imagine walking into your perfect home, in the perfect location, with the perfect view, and being so happy you had found the right house to buy! This is the best situation, and it can feel like everything is coming together wonderfully. However, it’s very important to also look at the details of a home to see if any red flags put a damper on the home’s appeal – and potential deal. Remember to look at the home from an objective viewpoint.
Remember, if the house is perfect except for one large issue, this red flag could spoil the deal. If the house is fantastic but has a number of little issues to address that are seen as red flags to some, they may be managed and dealt with.
A red flag will ultimately be a concern that will trigger a negotiation, either with the seller or yourself and your family, about what can and cannot be accepted.
Major Red Flags Discovered During a Home Inspection
Here is a list of items to be highly concerned about when you are buying a home.
- Foundation or structural issues, cracks, or separations in the foundation This can be a serious issue and absolutely a red flag for most. It might be an issue with the house itself, or it can even be an indication of the construction in the neighborhood.
- Bent Garage Door This can also be a concern regarding the house itself or the general state of the neighborhood, and should be inspected thoroughly. If the house is newer, excessive house settling can be a problem.
- Water damage This is a problem that can be hard to pinpoint. Is there a plumbing or appliance leak? Maybe the roof has issues and needs to be repaired or replaced? Water damage is a major sign that there is a red flag problem to look into.
- Windows that are difficult to open or have cracked glass This can actually be a sign of a house shifting or settling.
- Neighbors or neighborhood environment Is the property next door to or in an area that’s run-down or extremely noisy? It is likely to be worse when you actually live in the home, so consider this a red flag when looking at buying your new home.
- Overall Neglect When a home isn’t well taken care of, repairs and general maintenance likely haven’t been addressed. This can easily cause more issues than would have been necessary, and updating or repairing can be excessive and costly.
- Having an old roof This can be a costly concern when buying a new home. Have a professional roofer come and look at the roof during your inspection to confirm it is in good shape.
Things to Look for When Buying a House
If you are looking for a fixer-upper home, red flags can be a favorable element to negotiate a lower price. When buying a home to move right in and not approach it with repairs and work, these same red flags take on a different meaning.
Discuss these things with your real estate agent before you start shopping for a new home, and as you see the houses available to compare with your expectations and the homes that are in your price range.
Working with an Experienced Memphis Area Real Estate Agent
When it’s time to sell your existing home or buy a great new place, turn to a highly regarded and well-informed local real estate agent. You want someone who you can trust to give you the best advice and know-how for your new home purchase or sale. Check out my other great real estate articles to help you through your home selling and buying experience here in Memphis. Staging homes for sale is also part of my expertise. Please ask me about it when you reach out.
Take a minute to learn more about me. With over 20 years of top-notch service for my clients, I can guide you with your house sale, new home purchase, or buying a great parcel of land. As a top, licensed real estate agent in the Memphis area, showing you the best properties for you and your family is my goal!
Contact me at (901) 828-8919 or drop me a quick note at angie@angiekelley.com, and we can speak in person about your plans and options.
