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How to avoid a money pit

Unless you’re in the business of flipping houses, you don’t want to buy a money pit! In this article, we will look at some of the major issues of  a house to consider before your purchase.

How to avoid a money pit

The worst thing in the world is to buy something, only to find that it will cost you much more money than you’ve already spent. In this article we are going to look at a few of the major cost issues of a house to be aware of before your purchase.

  • Age – Was it built before JFK was president? The older the home, the more the upkeep and maintenance costs. Remember, when you’re excited about those “antique” fixtures and charm, that just means they are old! The older it is, the closer to replacement.
  • Plumbing – Be mindful of the plumbing condition. Are the drain pipes cast iron, do you see signs of leaking, how old is the water heater? Did you know the life expectancy of a solder joint in a copper water line is at least 50 years with good water condition?
  • Heating and Cooling – Replacing a furnace or A/C unit will cost thousands of dollars! If you are old enough to buy a home and they are older than you, it’s time to replace them.
  • Electrical – Electrical code has changed a lot since the 1970s! If  you notice an old breaker box, or the house is full of two prong, ungrounded outlets, an update is needed.
  • Foundational – Cracks in the foundation can lead to structural issues and even water damage. This is a major cost, and one to consider when purchasing a home.

Buying a house is a huge decision! Make sure you are armed with enough information so you don’t get caught in a money pit!

Houses-For-Sale-OKC

Houses For Sale OKC: 1 Flaw Spotted During An Inspection

Houses For Sale OKC: The problem and how to fix it

During this time of year, a lot of people have closed on house deals prior to the start of fall so that they can settle in before winter. If you’re a late mover you may still be searching online for “houses for sale OKC.” If you’re still looking just know that one part of finalizing details on a home is obtaining a home inspection. A good home inspector will find the flaws anywhere and everywhere! One of the most common flaws spotted during a home inspection is related to the drainage. Rain may not have been a problem during the hot summer months, but you have to think about the home’s state as it will be if something isn’t taken care of.

Houses for sale OKC: Poor drainage problem

The problem: If you notice that the lawn often gets soggy after an average rain or water pools up in the driveway, this is a sign of poor drainage. If water continues to build up too much then over time it can back up to the house causing eventual structural damage or immediate signs of insect infestation, rot or mold.

A solution: Gutters should have downspouts that direct water away from the house. They should be extended 6-10 feet away from the foundation. If you decide to purchase the home as is, you may also consider French drain installation. You may also negotiate with the home seller to see if they will add this before closing on the home. With French drains water will be forced to flow downhill as the drains are slightly sloped trenches filled with round gravel and a pipe that diverts water away from the house.

The fall and winter storms are the ones to worry about and they’re right around the corner so don’t be surprised if your home inspector recommends that you have proper drainage for the safety of the home. You can hire a professional landscaping team to take care of your drainage problems for you. It may seem like it isn’t worth the upfront expense, but in the long run what proper drainage will save your house from will be worth it!

If you need an experienced realtor to help you find the perfect home, please give Metro First Realty a call @ 405-242-4004.