Dec 20

How to Spot Bad Real Estate Properties

Great real estate is hard to find- sometimes it seems like all there is in the world is mediocre properties and endless paperwork that never seem to strike your fancy. If you are in the market for your dream home you might be finding yourself caught up in the midst of open houses, real estate agent phone calls, fees, mindless paperwork and loans up to your eyeballs. While finding the perfect home for you and your family you might find it easier to spot the homes you don’t want to buy – if you haven’t already figured it out, here are a few ways to spot bad real estate properties and how to avoid them!

1. Appearance: a first impression’s importance implies to people and to houses! If you walk up to a home and aren’t impressed by the exterior or interior, use your instincts. Some homes simply need a new coat of paint and a few repairs, but others have been neglected for so long that they have bigger problems as a result of that neglect. A well-kept home is a good property investment; one that hasn’t been landscaped, painted, cared for, or maintained constitutes a fairly bad piece of real estate.

2. No communication: if the homeowner or real estate agent isn’t returning your calls regarding a home you are interested in or is pushing certain homes too much, be aware. They might be seeking to get a bad property off their hands and into yours. If you are dealing with a homeowner directly you might want to watch out for signs that they are covering up bigger problems on the property.

3. No information: if you can’t find any information on the home, run away! If a homeowner is really looking to sell a good property they will do what they can to make sure their property goes to the right buyer for the right price. They should supply all the information you need to know about the home, neighborhood, property, and be able to answer all your questions in a reliable time frame.

4. Outdated inspections or none at all: if a home doesn’t have an updated electrical system and updated inspections records, steer clear. Bad properties that haven’t been maintained in terms of plumbing, electrical systems, air conditioning and heating units, and more can be harmful to your health and affect the life you live in the property. Bad real estate properties are marked by small problems that gradually get bigger and bigger.

5. Location: a home in a good location for you can be forgiven a few aesthetic details. If a real estate property isn’t located in an area that’s convenient for you and has any of the problems mentioned above it likely isn’t a good property. Make sure to pick a home that is in a neighborhood you like.

6. Size, style, and price: if a home doesn’t fit these needs for you, it still might be a good property- but it isn’t your dream home!