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Mississauga Real Estate: How to Avoid a Money Pit

Friday Dec 09th, 2022


Many people think that severe defects in a home are easy to spot. But, the average buyer often cannot detect the most serious and costly problems upon close inspection. When you are buying a home, look for the following six telltale signs of serious issues which could spell expensive repairs:

1. Roof
Leaks are the most common problem with roofs and are tough to detect outside. However, inside an attic, you can often see watermarks, which are signs of leaks or condensation issues. 

2. Plumbing System
Make sure you are confident that both water systems – the one that brings fresh water in and the one that takes sewage out – are functioning well before buying a home.

3. Heating and Cooling Systems
Be sure to thoroughly inspect the heating and air conditioning systems in any home you consider purchasing. This means running the air conditioner in the winter and the heat in the summer to ensure the units work.

4. Electrical Systems
Before you agree to buy a home, make sure that you can operate all major appliances you may want to run simultaneously to ensure that a power failure doesn’t occur. You also want to make sure that the electrical system is safe and does not present a fire hazard.

5. Bad Paint and Signs of Rotting
The paint inside and outside of a house can reveal a lot about the condition of the underlying material. Check several places on the walls to look for any signs of wear. You can also use a screwdriver to poke at the walls to find soft spots that signify rot or mould.

6. Cracks and Other Important Signs
Cracks in walls, doors not closing correctly, and uneven floors can all be signs of a problem with the foundation. The entire house could be compromised if the foundation is not strong, so you should carefully check for these signs. A bad foundation may not mean imminent disaster, but you could use it to bargain for a lower sale price or ask the owner to repair it before the sale.

The best way to avoid a money pit is by hiring a qualified real estate sales representative to help you find a home that suits your needs, budget and other essential criteria. Investing in a home inspection before agreeing to buy a home is also advisable – it can save you thousands of dollars in the long run by identifying key issues and repairs.

Your Mississauga Real Estate Sales Representative
If you are considering buying a home within the Greater Toronto Area or Mississauga, I’d love to hear from you! I’ve helped hundreds of homebuyers through every step of the real estate process – from deciding whether or not to buy a house to submitting a winning offer on their next dream home!

To learn more, please get in touch with me, Deborah Clerk, Real Estate Sales Representative, ASA, at Keller Williams Realty, Brokerage.

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