Be Careful Which House You Buy
May 21st, 2010
This is a unique era in the American housing market. After the price inflation bubble burst, houses now sell for record low prices. Combined with historically low interest rates, it is tempting to take advantage of this current situation and buy a new home.
And the economic factors that created this unique housing market have left behind many foreclosed homes that now sit vacant, and the prices on those are even more tempting. If you are contemplating buying a vacant home, you need an evaluation that goes much deeper than the regular home inspection.
Beyond the Home Inspection
Did you know that home inspections for houses are not required by state law? The St. Louis Association of Realtors’ “Residential Sales Contract” simply states that a seller must allow a buyer to conduct a home inspection. So, a home inspection typically concentrates on the issues that might affect financing and repairs, but will not look forward into the future to anticipate if this home is a good match or investment for you.
Many home purchases come with the promise of some form of repairs and remodeling to make it a home you will thrive in. There are so many financial, physical, and emotional considerations to buying a house that guidance and answers from expert home consultants are a wise investment before you sign on the dotted line.
Buying a Vacant Home
The home buying process gets trickier when it’s a house that has sat vacant or ignored. Some issues are apparent, like an overgrown lawn or a musty smell from being closed up with no air circulation. But there are several major issues that need to be addressed with an evaluation.
Mold – no circulation plus unattended roof and window leaks allow moisture to penetrate the interior, creating the perfect breeding ground for mold and mildew behind the walls of the structure.
Plumbing – unused seals dry out, sewer gases back up, and if the house sat vacant through a winter, there could be cracked or burst pipes if the water was not shut off.
HVAC – the longer this sits unused the more mechanical problems pile up. Also check for vandalism from copper thieves.
Pest Infestation – From the attic to the basement, a vacant house with an overgrown yard is the perfect home for insects and varmints to live in places not immediately noticeable to the naked eye.
The rock-bottom price on a foreclosed house is only the entrance fee to further expenses. There are immediate and future repairs to make, as well as remodeling and enhancements to the interior and exterior. An ASHI home inspection is a must, as it will provide a knowledgeable overview of needed repairs.
But, would you like answers to all your repair and remodeling questions about the home? The Mosby Building Arts Home Evaluation is a unique service that considers all the crucial aspects of buying a home.
Mosby has over 60 years of experience with the repair, maintenance and remodeling of Greater St. Louis homes. Their trained eyes analyze all facets of the house and provide you the honest answers you need to assess the immediate and future costs of turning a foreclosed house into your home.
The Mosby Home Evaluation is a valuable service because paying a small fee upfront for the answers you need can save you from making a costly mistake. To evaluate a house you’re interested in buying, call the Mosby office at 314.909.1800 or contact them here.
Related posts:
- Should I Buy This House?
- KMOX – Home Evaluations for House Buyers
- The Right Bath by Mosby
- Your Home in an Unsure Economy
- The Best AC Thermostat Setting for Vacant House
Learn the Art of Living at CallMosby.com.
Tags: buying a vacant home, foreclosed home buying, home inspections, mosby building arts, mosby home evaluation, scott mosby, st. louis remodeling
