June 25, 2024
If you are looking for your first home, there are areas of every house you should consider including in your mental checklist of features to look at during a real estate open house or a private viewing of a sale property.
What follows is not a complete list but a great place to start when looking for potential deal-breaker problems lurking in the house you want to purchase with an FHA mortgage.
The Condition Of The Walls And Ceiling
Homes that have been flooded or experienced significant plumbing issues could have signs of water damage in areas like the basement, stairs, and walls throughout the house. Look for stains, patches of wall that don’t quite match the others, warped wood, poorly closed doors, etc.
Staining and the smell of mold or mildew are often the first cosmetic indications of a moisture problem in some homes.
Stains or discolored patches on the ceiling or walls could indicate a leak from above. Note the number of stains you see, their size, and how common they are throughout the house.
Windows And Doors
Do the windows and doors appear recent? Are the as old as the house itself? Do the windows and doors close properly, or are there warped wood or bent frames?
Mechanical Systems In The Home
Does the house have a modern water breaker box and water heater? Or does it feature 20th-century versions of these systems? Check the housing and other visible-to-the-user components of the home’s electrical, HVAC, and plumbing systems. Are they dated and rusty or appear newer and in good condition?
Does the house with a basement you are reviewing have a radon detection system and/or sump pump?
Basement Problems?
The house you want to buy may have a great upstairs, but if the conditions in the basement or crawlspace are problematic, it can affect your enjoyment of the entire home.
Do you notice any standing water in the basement? Are there “sweaty” walls or floors? Stains or discolorations?
Cracked walls or flooring are also essential to note as they may be symptoms of a foundation issue. Some homes may have trouble with seepage or even rising water in the basement depending on the amount of rain or snowfall that year.
The Roof And Attic
Some attics may contain mold, excessive moisture, mildew, and other issues. If these issues exist, they could be symptoms of problems related to the roof. When standing outside, can you see damage, patching, loose roof tiles, or other problems? Don’t neglect the attic or the roof when examining a house from top to bottom.
There are multiple issues to watch when reviewing a house you want to buy with an FHA mortgage. The ones discussed here are just some of those first-time borrowers should be mindful of when reviewing property for sale.
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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