With the popularity of home renovation shows on TV, many people want to find their own fixer-uppers to renovate. We love that more people are taking on these project homes, and we have some advice for those interested in taking on this challenge. Here are a few red flags to look for when searching for a home:
Bad Location · Unfortunately, a bad location will greatly impact the resale value of a home. It's best to scout thelocation during various times of day to see what the area is like. Do some research online as well and see what information you can find about the home you're interested in purchasing.
Foundation Issues · Issues with the foundation of the home can be extremely costly, and the needed fixes often eat into profit margins and may not be worth the time or financial investment.
A Bad Roof · Roofing is another significant expense when renovating a home. While it is not necessarily a deal-breaker for us, it does require further investigation. Was there a leak in the roof? If so did it cause any moulding? Often issues with a roof can cause damage in other areas of the home that will need to be repaired as well.