You have found your dream property online but now it's time to see it in person. It’s an exciting moment however, you must keep your head on your shoulders to ensure you are making the right decision.
You also want to be aware of certain factors that will affect the final purchase. Particularly characteristics that will not be in your favour as a buyer.
Here are 5 red flags that you must look out for when buying a home in Trinidad and Tobago:
1. Foundation Cracks
Foundation repairs are expensive; therefore you want to look out for any significant damage to the foundation of the home. You want to look for cracks wider than ½ an inch and if you are very interested in the home you should have a contractor come and see it before making a final decision.
Not only will you get an idea of the costs you will incur to fix it but they will also be able to tell you whether the house has an unstable foundation.
2. Unusual Smells
Unusual smells are typically a sign of a larger issue. If you notice any unpleasant odours you should ask more about them or observe where they may be coming from. This could include a mold issue, poor ventilation, water damage or possibly the location of the house, for example, if it's too close to a drain or river that is the source of the smell.
3. The House Has Been on the Market For A Long Time
If a house has been on the market for too long, this can be an indicator of a multitude of issues. Such as price, location and repairs needed. This is especially a red flag when you visit the home and the issues or problems are not evident.
Ensure that you speak to your real estate agent about the property and get some information about the property and why it may not be selling.
4. Faulty Wiring
While you won't be able to detect the wiring of a house when viewing it, you can observe certain indicators of faulty wiring. These include, but are not limited to, flickering lights, outlets that aren’t working or even circuits that are giving trouble. These are likely problems that are occurring due to wiring problems therefore, it is important to take note of any issues.
If you are very interested in the house, you can ask that a contractor and electrician come to view the house with you and get their feedback on any issues they notice.
5. Other Houses in the Neighbourhood Are Also for Sale
When looking at a new home you should always pay attention and ask questions about the neighbourhood. This includes levels of crime, regularity of water and more. However, this also includes other homes in the area that are on sale. This can be a sign that there is a larger issue that is forcing people to move out.
If you notice this, ask your real estate agent about this to ensure it's not a more considerable issue in the area.
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