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Red Flags When Home Buying


Blog by Claire LeLacheur | July 5th, 2016


Whether you’re buying for the first time or you’re experienced in the process, the home buying process is very exciting. However, buying a home is one of the largest investments you’ll ever make, so it’s important to stay on the ball and know exactly what you’re buying into. Although your realtor and home inspection report will advise on any issues with the property, it’s also good to be clued into yourself. Here are a few red flags for home buyers to look out for.

 

Neighbourhood Appeal

You’re not just buying into a home – you’re also buying into a neighbourhood. If you’re serious about a home, make sure you check out the surrounding area. When home buying, walk around your neighbourhood as if you already live there, and map out your closest grocery store and amenities. Keep note of traffic and noise levels near to your property too, and even consider asking the neighbours about the area.

 

Poor Maintenance

Especially if you’re buying an older home, take note of how well the property is maintained. Check out the roof and gutter, take a look at the yard, and keep an eye out for flaky wallpaper and paint when home buying. If the current owners aren’t proactive with maintaining their home, there may be more serious issues that they’re neglecting.

 

Upcoming Developments

Especially if you’re buying a home in Downtown or an urban area, development is highly likely. If there’s a large plot of land in front of your building that’s giving you a beautiful, unobstructed view, look into the land and ascertain whether there are any planned developments within the next few years. The last thing you want is to invest huge amounts of money in a property, and then find out a few months after that you’re going to be overlooking a loud building site.

 

“Off Limits” Rooms

If the buyer is keen to keep you away from certain areas of the home, such as “off limits” rooms, when home buying this is a major red flag. If it’s off bounds temporarily, arrange a viewing and make sure you see what’s inside. Be sure to explore the whole house so you know exactly what you’re buying so you’re not faced with any nasty surprises later down the line.

 

Although a home inspection requires a small investment, it’s very worthwhile. The last thing you want is to pay more in the long run due to problems with the home that you weren’t aware of. If you’re looking for a realtor in Vancouver, get in touch today!

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