What to look for when buying a house - Real Estate Kier (2024)

I hate to see someone go through heartache and money when it comes to buying a house! It’s fairly common for deals to fall apart at the very end because of items found on an inspection report that could have been discovered earlier in the process.

These past two weeks, we’ve been looking at A LOT of houses and a lot of those houses had problems we didn’t want to deal with. We’ve definitely narrowed down exactly what we don’t want in our next property.

So in today’s post I’m going to go over the 3 major things we look for when buying a house because they’re usually deal breakers. These are things sometimes not discovered until the home inspection when all the expense and tugging at heartstrings could have been avoided if you just knew what to look for when buying a house in the first place!

(*Please note I am not an inspector and you should always get a professional. These are simply suggestions to watch for when looking through a home and deciding to put an offer in and what price!)

Look Out for Termites

Termites can cost anywhere from $1,000 – $1,500 to treat… and that’s only if it’s old termite damage. (Yes, lots of times you still wind up paying to get a treatment if there’s signs of old damage.) I can’t even come up with a number it would cost if they’ve infested!What to look for when buying a house - Real Estate Kier (1)

When we look at houses for ourselves and when I look at them with clients I always look for new and old termite damage. First, I always bring a flashlight so I can look it the joists in the basem*nt. I typically look at the ends of the joist where they meet the foundation since they come from the ground outside.

I look for any signs of holes, tunnels or wood that looks rotten. Sometimes I stare at the joists (maybe for too long) to watch for any signs of movement by tiny little creatures.

Look for Foundation Issues

Foundation issues can be very costly and wind up causing many other unforeseen issues. Luckily, I don’t think it’s that hard to spot foundation issues in a house, especially if the basem*nt is unfinished.

Signs of foundation issues can be an unreasonable amount of cracks in the walls and ceilings or one or two extra large cracks. Basem*nt walls and floors are an ideal spot to look for cracks! I also look for signs of cracks that may have been filled in previously – so I look out for mortar joints that are much larger than the others.

Another sign of foundation issues are having windows and doors that don’t shut properly or simply look unlevel. Oh and don’t forget the outside! Patios, walkways and concrete slabs can very easily show a foundation issue.What to look for when buying a house - Real Estate Kier (2)

We recently visited a house with foundation issues and the second you walked in you “feel” the slope of the house. So sometimes foundation issues can be a feeling!

Watch Out for Mold

There are all kinds of different molds to watch out for! The black kind, the green kind, the white fuzzy kind.

I typically look for mold in the attic, basem*nt and around windows and light fixtures. (So pretty much everywhere.) The rafters in the attic, if exposed, can show whether the roof is leaking and can be a good indicator of how long the roof has been leaking. The darker, moldier and more rotten the wood the longer the roof has been leaking. Obvs.What to look for when buying a house - Real Estate Kier (3)

Exterior basem*nt walls and the bottom part of any interior walls or supports often are the first areas to show signs of mold. So I always take a flashlight and shine it anywhere material meets the floor and across all the walls.

When windows aren’t properly installed (or a variety of other reasons) they leak. Sometimes it can take years of leaking before mold appears so look closely!

Well, those are the three major things we look for when we’re looking at houses. And maybe some of the above doesn’t scare you but it’s good to know so you can adjust your offer accordingly!

That’s all I have for you this week! If you can’t wait until next week’s post, here are few reader favorites to hold you over until then!

How to Find a House to Flip… 5 Ways You Might Not Know of!

5 Reasons Why You Shouldn’t Flip Houses

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What to look for when buying a house - Real Estate Kier (2024)

FAQs

What are the three most important things when buying a house? ›

The Top 3 Things to Consider When Buying a Home
  • When you're shopping for a home, you're likely to visit multiple properties before you find The One. ...
  • #1: Price. ...
  • The sticker price. ...
  • The cost of homeownership. ...
  • Negotiation. ...
  • #2: Location. ...
  • Commute and accessibility. ...
  • Neighborhood features, factors, and amenities.
Oct 2, 2023

How to decide if a house is right for you? ›

How To Choose A Home That's Right For You
  1. Figure Out Where You Want To Live. ...
  2. Make Sure A Home Checks Your Must-Have Boxes. ...
  3. Narrow Your Search To True Contenders. ...
  4. Consider Old Vs. ...
  5. Be Realistic About Your House Goals. ...
  6. Stick To A Budget. ...
  7. Look For Potential Issues With The House.
Mar 9, 2024

What to think about before buying a house? ›

6 Major Factors Of Buying A House
  • Price. For many prospective home buyers, a home's purchase price is their biggest concern. ...
  • Location. Where you buy a home will have a tremendous impact on your day-to-day life. ...
  • House Size. ...
  • Property Taxes. ...
  • Homeowners Association (HOA) ...
  • Amenities.

What is a red flag when buying a house? ›

Bulges or cracks bigger than one-third inch can mean the house has serious structural issues. Take a big whiff of the air inside and outside the house. Do you smell anything funky? If you can't smell anything but the huge baskets of potpourri all over the house, this could be a red flag.

What are the three C's of home buying? ›

These three essential factors — Credit, Capacity, and Collateral — play a pivotal role in determining your eligibility and terms for a mortgage. Let's delve into each of these C's to unravel the secrets to a successful mortgage application.

What month is the best month to buy a house? ›

Competition levels may also be lower than spring and summer, especially if you're searching in an area that's popular among families with kids. If getting the lowest price possible is your main priority, consider searching for a home in November or December.

What questions to ask a realtor when buying? ›

10 Questions To Ask A Real Estate Agent When Looking At Homes
  • Why is the owner selling and how long have they lived there? ...
  • What is the market like in this neighborhood? ...
  • What is this property worth? ...
  • Is the seller flexible on their asking price? ...
  • Are there any seller's disclosures? ...
  • How often has this property been sold?

What to watch for when buying a house? ›

With so many considerations to weigh in potential properties, here are some red flags to look out for when buying a house, especially during the viewing.
  • Poor tiling or flooring work. ...
  • Foundation issues. ...
  • Poor maintenance. ...
  • Nearby water. ...
  • Poorly installed windows. ...
  • Mold. ...
  • Water damage. ...
  • Improper ventilation.
Jun 21, 2023

What is the number one house rule? ›

The most common house rules in America

Here are the top 10: Put items back in place: 88 percent of households. Share household chores: 81 percent of households. Keep room clean: 80 percent of households. Turn off lights leaving the room: 76 percent of households.

What is the general rule of thumb for buying a house? ›

According to the 28/36 rule, you should spend no more than 28% of your gross monthly income on housing and no more than 36% on all debts. Housing costs can include: Your monthly mortgage payment. Homeowners Insurance.

What rule should you follow when buying a house? ›

Home-Buying Rule #1: Spend no more than 30% of your gross income on a monthly mortgage payment. Traditionally, the industry says to spend no more than 30% of your gross income on your monthly mortgage payment. However, as mortgage rates continue to decline, more people are tempted to increase the percentage.

What is the first thing to do when considering buying a house? ›

How To Buy A House In 13 Steps
  1. Step 1: See If You Meet The Requirements To Buy A House. ...
  2. Step 2: Calculate How Much You Can Spend On A House. ...
  3. Step 3: Save For A Down Payment And Closing Costs. ...
  4. Step 4: Decide What Type Of Mortgage Is Right For You. ...
  5. Step 5: Get Preapproved For A Mortgage.

What is a good credit score when buying a house? ›

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly mortgage payments.

How much down is an FHA loan? ›

FHA loans have lower credit and down payment requirements for qualified homebuyers. For instance, the minimum required down payment for an FHA loan is only 3.5% of the purchase price. The FHA mortgage calculator includes additional costs in the estimated monthly payment.

What is the rule of 3 when buying a house? ›

If you really want to keep your personal finances easy to manage don't buy a house for more than three times(3X) your income. If your household income is $120,000 then you shouldn't be buying a house for more than a $360,000 list price.

What are the three most important aspects of a house? ›

Here are three important aspects of housing that relate to your health.
  1. Physical Conditions within Your Home. A safe and healthy home, void of hazard, promotes good physical and mental health. ...
  2. Neighborhood Conditions. Humans need interaction. ...
  3. Housing Affordability. We all want affordable houses.
Jan 14, 2021

What are the three most important things to you in real estate? ›

To achieve those goals, the three most important words in real estate are not Location, Location, Location, but Price, Condition, Availability.

What are the three values of a house? ›

There are three internationally accepted methods of measuring the value of property: the cost approach, the sales comparison approach and the income approach.

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