The trend of buying a fixer-upper property in Fort Worth is increasing, as more and more individuals look to either flip the property or live in it themselves. While it can be a lucrative investment, it is important to proceed with caution. Before making any purchase, it is essential to be aware of potential issues and problems that may arise. There are many things to watch out for when you buy a fixer-upper, but here are four of our biggest things to look out for!
Structural Problems
When inspecting the property, pay close attention to the foundation. Look for cracks, settling, and slanting. If you notice any of these signs, it is a clear indication of a faulty foundation. This can lead to a rapid deterioration of the property, resulting in expensive repairs, including fixing cracked walls, roof damage, plumbing and electrical issues, and more. To avoid these unplanned expenses, it is essential to have a professional inspect the foundation before making a purchase.
Water Damage
Water stains on the walls or ceiling are a red flag for a plumbing issue or leaky roof. Repairs for these problems can be costly, and if left unattended, can lead to further damage and repair expenses. Water damage can be one of the biggest costs associated with property damage, including the cost of mold removal, new carpets, and more. Before making a purchase, inspect the property for any discoloration, and ask the property owner about any past problems. By law, they are required to disclose any issues with the property.
Window Inspection
Windows play a significant role in the energy efficiency of a home, regardless of climate. Make sure to inspect the windows and ensure that they are double-paned and not single-paned windows, which are commonly found in older homes. Even if the windows are insulated and double-paned, hot and cold air can still seep in, so look for window fogging and drafts coming through cracks. These cracks can also provide an entrance for pests and bugs, and settling caused by a poor foundation can cause windows and doors to shift. Replacing a whole house full of windows can quickly become an expensive endeavor.
Signs of General Neglect
Cosmetic neglect can be an indication of structural neglect as well. If the property has been poorly kept up, there is a high chance that structural elements of the home have not been attended to. Consider what could be hiding behind those walls, including faulty electrical work or bug infestations, which are not always detected during a home showing. Before making a purchase, make sure that any remodels, improvements, or structural changes were done properly and are up to code.
In conclusion, buying a fixer-upper can be a wise investment, but it requires caution and attention to detail. By considering these four critical factors, you can avoid potential problems and make an informed decision. If you are in the market to purchase a fixer-upper, Pioneer Home Buyers is here to help.