Whether you’re buying your first piece of real estate or simply renting an apartment, you need to be extra careful before you sign your name over the dotted line. To make sure you'll have no regrets, here are red flags you need to take note of:
1. Low market price
Real estate is not cheap, so if you’re being offered a piece of property at too low a price, it’s probably a good idea to do a bit more research. Are the owners in a hurry to cash out? How did the neighborhood fare during the typhoon season? What is the current crime rate?
They may be quite small, but their presence is quite telling of the house that you’re about to live in. Besides, for every insect that you see, there are probably more in hiding. For all you know, there could be a termite infestation right where you’re standing.
3. Other "For Sale" signs
Is your dream home the only piece of property that’s for sale in the neighborhood or is every other house up for grabs? According to CNBC, seeing multiple sale signs in the same area may spell bad news. Find out what drove the other neighbors to sell, and you might just save yourself from a rotten deal.
4. Poor drainage systems
Checking your future home’s pipes is very crucial. According to AOL, “Poor drainage can lead to wood rot, wet basements, perennially wet crawlspaces and major mold growth.”
5. Overall eeriness
We’re not saying you should be paranoid of every house you see. But if you feel something negative about the place you're looking at, try looking at other properties. Trust your instincts.
(Photo via Megan Peters on Pinterest)