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Investment Tips: Before you buy a House

Buying a new home is exciting, some financial information to have squared away beforehand. Ideas about credit checks and leases.

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When you are looking for that perfect home, you can't just buy the first house you look at. You need to be sure that this home will not need a lot of repair work that will cost you a lot of money as soon as you move in.

Check the ceilings, do you see water stains? If you do, the roof could have a leak or the pipes inside the attic may be leaking.

Look at the roof, are the shingles all in place and in good condition? If not, you may be looking at buying a new roof.

Check the gutters. Does water flow freely through them? If it doesn’t, you’ll need to have them cleaned. If they leak, you’ll need to replace them.

Look at the exterior paint. Is it peeling? Faded? If it is, you’ll need to repaint.

Check out the attic. Are the water pipes in there? If they are, look for wet insulation. You may need to replace the pipes in the attic.

While still in the attic, look for hints of animals such as squirrels or birds living in there. There may be a hole in the roof they are using to get in.

Check the condition of the insulation. If it is water damaged you will need to replace the insulation.

Check out the water heater. Find out how old it is and when the last time it had the water flushed out of it. If it's over 10 years old, you'll need a new one soon. Look for signs of rust or dripping water.

Check the carpet inside the home. Is it old, worn or musty? If it is, you’ll need to replace it.

Look at the walls inside the home. Are there any holes? Water stains? Is the paint faded? You may need to replace the SHEETROCK (R) or it may just need to be painted.

Inspect the electrical outlets. Are they in good repair? Is there any sign of smoke? You may need to replace them.

Check the fuse box. Are the fuses rated high enough for the appliances in the room? This is a minor thing but check them out anyway.

Check all the toilets and make sure the plumbing is in good repair. Last thing you want is not to have a workable toilet.

Look under all the sinks. Does the floor or cabinet show signs of water damage? If it does you’ll need to be sure the plumbing and the cabinet and/or flooring is fixed.

Does the house have a musty smell? It could have major water damage.

These are just a few of the things you should look at when you are thinking about buying a home. You will save a lot of money by checking these things out and either having them fixed before you buy, budgeting the money to get them fixed once you move into your new home, or looking for a home that doesn’t have these problems. If you have to replace too many major things, it’s probably not worth it to buy the house.



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