NEVER Buy These Types Of Houses

Summary

This video script offers crucial advice for first-time home buyers, highlighting properties to avoid. It warns against poorly executed flips, homes near noisy main roads or unstable terrains, and properties with structural issues or outdated systems like galvanized plumbing and knob and tube wiring. The speaker emphasizes the importance of due diligence, including checking permits and conducting thorough inspections to prevent costly future repairs. The goal is to empower buyers to make informed decisions and avoid properties that may lead to regrets.

Takeaways

• 🏠 **Avoid Flip Properties**: Properties that have been flipped may have poor quality work due to inexperienced investors cutting corners to save costs.
• 🔍 **Check for Permits**: Ensure that permits were pulled for any work done on flipped properties, as this indicates that the work was likely done correctly and checked by authorities.
• 🚫 **Steer Clear of Proximity to Major Streets**: Properties near major streets, freeways, or railroad tracks can be noisy and may negatively impact resale value.
• 🏡 **Be Wary of Hillside Homes**: Homes built on the side of a hill without structural reinforcement or bedrock can be at risk of damage from erosion or shifting.
• 🚫 **Beware of Structural Issues**: Cracks in foundations or walls that are not hairline cracks, sagging ceilings, or homes with removed load-bearing walls without permits can indicate serious structural problems.
• 👷 **Verify Contractor Licensing**: When considering a flipped property, ask for receipts and names of licensed contractors to ensure the work was done professionally.
• 💧 **Watch Out for Water and Mold Issues**: Properties with water damage, leaks, or mold can be expensive and difficult to remediate.
• 🛠 **Old Plumbing and Wiring**: Galvanized plumbing, old knob and tube wiring, or aluminum wiring can lead to future costly repairs.
• 🔋 **Electrical Safety**: Ensure there are no buzzing sounds in the electrical panel and that an inspector checks the wiring for safety.
• 🌤️ **Consider Roof Lifespan**: Flat roofs have a shorter lifespan and are more prone to issues compared to A-frame roofs.
• 🔐 **Due Diligence**: Always conduct thorough inspections and due diligence when buying a home, especially if it has been significantly renovated or has potential red flags.

Q & A

What is the main purpose of the video?

The main purpose of the video is to provide first-time home buyers with guidance on the types of properties to avoid when purchasing a home, to prevent regrets and potential costly issues in the future.

Why should home buyers be cautious about flipped properties?

Home buyers should be cautious about flipped properties because many of these properties may have been poorly renovated to cut costs, which can lead to visible and hidden issues that were not addressed by licensed professionals or with proper permits.

What should a buyer do if they are considering a flipped property?

If considering a flipped property, a buyer should do extra due diligence, such as checking for permits, asking for receipts for work done, and obtaining names of licensed contractors involved in the renovation.

Why are properties near major streets or freeways generally undesirable?

Properties near major streets or freeways are generally undesirable due to noise pollution, which can deter potential buyers and negatively impact the resale value of the property.

What are the concerns with homes built on hillsides without structural reinforcement?

Homes built on hillsides without structural reinforcement may be at risk of damage due to erosion or shifting, especially in areas with heavy rainfall, and can lead to costly repairs or even complete loss of the property.

What types of structural issues in a home should a buyer avoid?

Buyers should avoid homes with structural issues such as cracks in the foundation, walls, or ceilings that are not hairline or straight, sagging ceilings, or signs of load-bearing walls or posts being removed without permits.

Why is it important to check for permits when purchasing a property that has been renovated?

Checking for permits is important to ensure that any structural changes or renovations were done legally and according to building codes, reducing the risk of future issues and potential legal complications.

What are some common issues with older homes that a buyer should be aware of?

Older homes may have issues such as old galvanized plumbing, outdated electrical systems like knob and tube wiring or aluminum wiring, and roofs nearing the end of their lifespan, all of which can be costly to repair or replace.

Why should buyers avoid homes with water or mold issues?

Homes with water or mold issues should be avoided because mold is difficult and costly to remediate, and water damage can lead to structural problems and health hazards.

What are the potential problems with homes that have flat roofs?

Flat roofs have a shorter lifespan compared to pitched roofs and are more prone to leaks and other issues, which can lead to costly repairs over time.

How can a knowledgeable real estate agent help a buyer avoid problematic properties?

A knowledgeable real estate agent with experience can guide buyers through the process, help identify potential issues, and negotiate with sellers, potentially avoiding costly mistakes and ensuring a smoother home buying experience.