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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