My Secrets for Buying an Acreage Home Series
Buying a home can be confusing and even intimidating at times. That’s why the tips and strategies you’ll find in my 8-week series will set you on the right path. It’s my unique approach and a “behind the scenes” glimpse of what you should look out for and consider when starting your own search for an acreage home.
You’re excited to go house hunting and want to find the “perfect” acreage home, right?! Don’t let your excitement or desire for THE home spur you to make any rash decisions or overlook some serious red flags. You don’t want a home you’ll regret buying, so carefully weigh the pros and cons before making an offer.
Some acreage homes might seem good at first sight, but our list of hidden red flags could save you in the long run. At least consider them before you decide to make an offer.
Remember to think twice about buying a home when you see these signs:
Home Inspection
You know you’ll need to hire a qualified home inspector to examine the home to see if there are any structural and maintenance issues. Some potential problems are hard to see from a homebuyer’s eyes and that’s why you want a professional inspection before you buy.
However, you’ll need to decide if anything revealed from the inspection is worth the time and money to fix, or if it’s time to say good-bye. Your inspector isn’t going to tell you whether you should buy the home or not, he or she is only going to observe what is noticeable to their trained eyes at the time of your inspection.
Be sure to carefully consider moving forward with a home that has any of these items noted in your inspection report:
Lack of overall general maintenance. Don’t ignore this since it’s a warning sign that this home hasn’t been properly taken care of for many years. This could mean that major issues (such as water damage) could be lurking.
Questionable fixer-uppers. Some issues are typical for the age and location of your home and not the sign of poor construction. You may not mind a typical fixer-upper with “good bones” in certain neighborhoods, but you do want to steer clear of a home that has too many issues but isn’t really that old. That’s especially true if the construction just doesn’t seem solid or sound.
Do-it-yourself additions or any DIY work that isn’t up to code. If the addition looks awkward and cheap, it probably is and could be detrimental to the home when you want to resell. Alternatively, you’ll need to factor in the cost and time to tear down and rebuild properly. Make sure to ask for permits at the city or county and approvals given by the building officials in the jurisdiction where the home is located.
Termite infestation. Determine how bad and how much it will cost to fix and prevent in the future. You can do this for about $50 by calling a termite company. Better now than after you move in. Plus, lenders sometimes want this done and if they care about termite affecting value of a home, that’s a sign that you should too!
Cracks in the wall and uneven floors. Both could point to possible structural and foundation issues, which can be costly depending on the age of the home. You can get another inspection with a professional who specializes in foundation issues. Note some cracks in wall are typical based on age of the home while others could indicate bigger issues. An experienced inspector will be able to tell the difference.
Faulty and outdated wiring. This can be a serious fire hazard and you’ll have to consider the cost to fix and update. Inspectors should check for overloaded circuits and proper grounding. If you are looking to do a lot of renovations to an older home, make sure it has enough electrical amperage coming into the home, or that you can upgrade accordingly.
Hidden Problems
Sometimes you’ll walk into a room and feel like something is not right. Be a detective and examine the home carefully when looking for these signs:
Just one freshly painted wall could be hiding mildew, mold or water damage. Too much air fresheners or scented candles could be masking a strong odor from pets, smoke, or musty mold. An oddly placed rug or piece of furniture could be hiding damaged floors or carpeting. Windows and doors not opening and shutting properly. Go around and open and close them to double check!
New Construction
There are pros and cons on buying new construction homes. The pros are pretty obvious – you’ll be the first to live there, everything is brand new, and typically features the most modern finishes on the market. The list of “pros” could go on and on!
However, there are some major red flags you should be aware of when it comes to new construction homes, because new doesn’t always mean better. Because no one has ever lived in this home to “test” it, there could be a lot of issues that come up well after you move in. If no one has ever lived there, even a home inspector can’t find issues because it may take ten showers to figure out there is a crack in the pipe!
There is a saying about it’s best to be the second owner of a property after the previous owners have lived there for a few years and worked out all the kinks. Keep that in the back of your mind.
Well Inspection
Chances are your water source is from a private or shared well if you are looking for a home with land. You want to have a complete well report on the water level, pressure, testing for bacteria etc. before committing to the property. It would not be fun to find out after the purchase that your well is going dry in 2 more years…
Septic Inspection
You might have public sewage system or you might have your own sewage system on an acreage property. If there is a septic system, make sure to inspect the condition of the entire system from the house all the way to the septic tank and the leach field. If the home is old and is connected to public sewage system, you should consider getting a sewer lateral inspection done to make sure the sewage pipes are in good shape.
Conclusion
All of these are warning signs to make you step back and thoroughly consider if you should proceed with the home no matter how much you love it. Keep in mind that almost any problem can be fixed but someone needs to spend money and effort to get it done. It depends on YOUR budget, the time and energy you can devote to the work needed.
There is no right answer here but go into buying a home with your eyes wide open. That way you’ll have a better sense of what you are getting into and you can avoid any huge surprises down the road.
Next week our series will cover 4 Little Known House Hunting Tips. You’ll learn about two things you should always do, and two things you shouldn’t when looking at acreage homes.
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