Each home has its’ own set of headaches, but some are greater than others. When you’re looking to invest in a home either for rental purposes or to flip, make sure that you don’t fall victim to these huge maintenance problems. While we encourage you to find those diamonds in the rough that are lurking all over Detroit, MI, there are some homes that just really should be avoided all together.
- Foundation Hazards – The first thing you should check over with any potential home is the foundation. How is the structure? What condition is the basement or crawl space in? If you don’t have a good foundation, you don’t have a good home. The maintenance costs for rebuilding or restructuring a foundation can reach thousands of dollars, and we really don’t want to see you waste your money this way. Pay close attention to anything that may look like it’s shifting, broken, cracked, or leaking. The easiest way to tell if a home has serious foundation issues is to explore the basement. If it appears worn out, water damaged, and has a lot of cracks, this may be the time to pass.
- Roofing Hazards – While you’re looking over the foundation of your potential home, make sure to also check out the condition of the roof. A damaged or old roof can be extremely costly down the line, so you will want to be prepared for what additional expenses may be coming with your purchase. Look over the gutters, downspouts, and general roof itself. You’re looking to make sure that the roof doesn’t have unnecessary grooves, slopes, or weak areas. Additionally, curved or missing shingles is also a sign of serious roof damage. If possible, find out how old the roof is. If you’re under 10 years, you’re probably in the clear. If it’s creeping up or past 15 years old, you may want to think twice about this property.
- Electronic Hazards – There are a few areas in a home that you’ll want to check for electronic hazards. First, in either the garage or basement, make sure the house has enough amps (usually 100) to power the general electricity in the home. If there are not enough amps, not only will electrical issues arise, but also you could run into fire hazards. Additionally, make sure the furnace is in working order, or at least with 80% efficiency.
When it comes to purchasing project homes in Detroit, MI, it is important to weigh all of your options. Always consider the hazards that come with any home before jumping into any purchase.