Tips
Avoid buying a money pit
March 18, 2019
by PEMCO Insurance
Whether your style is sleek contemporary or comfy traditional, you want to know that the home you buy will be an oasis from stress – not the cause of it!
See how these Big Five Potential Trouble Spots – roofs, foundations, wiring, pipes and heating equipment – can tip you off that a home you're considering may be a money pit.
Other areas to watch:
- Soil stability. Is the house on or near a slope? Bare dirt, leaning trees or cracks on slopes may signal erosion and sliding.
- Drainage. Warning signs include water in crawl spaces or in basements. Excess water can contribute to soil instability and mold.
- Mold. Check around showers and toilets for mold stains and wall discoloration. Also, crumbling tile and grout can lead to rot behind walls and under floors.
- Pools. Unfenced pools and hot tubs are a liability hazard and affect eligibility for insurance.
- Landscaping. Shoddy yard repair can indicate other home maintenance has been let go, too.
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