Buying a property to fix up is a dream for many people who see it as a chance to renew a home and make a profit. But purchasing real estate is a big investment, and you could face major problems if issues occur. That’s why it’s important to know the following warning signs that a house could become a money pit. 

When Is a Home a Money Pit?

1. Missing Shingles

A strong and well-maintained roof helps protect your property. If shingles are missing, water can get into the structure of your home. This could damage your insulation or cause wood to rot. Water could reach the wiring and start an electrical fire. Even if there are no immediate signs of a leak, missing shingles are an indication that the roof hasn’t been taken care of by previous owners.

2. Moisture

Excess moisture and humidity in a home can cause major problems that are expensive to correct. Doors and window frames could be warped by moisture, and so could the wood in floors. Any frames that are out of shape are a big warning sign that the house has been damaged by moisture. Mold, mildew, or a musty smell in the kitchen, bathroom, or basement are also red flags.

3. Buzzing or Flickering Lights

Wiring in older properties isn’t always up to the task of powering newer electronics. Faulty wiring is a significant problem that may be dangerous and costly to fix. Buzzing or flickering lights are an indication of a wiring issue, and a small breaker panel is also a warning that you will have to update the electrics. Basic surveys don’t inspect electrics in detail, so hire an expert to carry out an electrical safety inspection.

4. Weak Foundations

A property with weak foundations is usually a bad real estate investment. Signs of poor foundations include v-shaped cracks, bowed walls, and moldy basements. Foundation issues are often caused by drainage problems or unstable soil, and this may be expensive or even impossible to correct. Also look out for doors and windows that don’t open easily or have gaps around the frames, which indicates structural problems.

An experienced real estate agent will help you to make the right choices with your property investment. Gilbert Realty in Mountain Home, AR, works with clients from around the country to find their ideal home or commercial property. They have 35 licensed brokers and agents across the Twin Lakes and Ozark areas. To make an appointment, call (870) 425-6282 or visit their website.