Buying a 'Bad' Home: What to Know in Case You Buy a House of Horrors
As if that weren't enough, a few months later, the frustrated Treher family also discovered a serious crack that developed alongside an existing repair line in the ceiling of their living room. Within days after the discovery, the ceiling became almost entirely detached. (When the Trehers attempted to remove the ceiling in order to replace it, it took "just one tug" for the ceiling to detach in its entirety). According to the Trehers, the house was "literally unraveling itself" -- and continues to do so, even two years later.
"After the issues started mounting up, the house has never felt like home," Justin said. "
How to Ensure You're Not Buying a Lemon
Though there's no such thing as a perfect house -- every home, even newly-constructed ones, will have some issue or another -- the trick is to make sure the home is free of any major problems before signing the dotted line. Like when buying anything, purchasing a home is a financial transaction and should be treated as such.But, much like the Treher family's case, that can be challenging for many homebuyers. According to Kirk Juneau, a licensed home inspector in Washington State who is a member of the American Society of Home Inspectors, the majority of homebuyers are more concerned with the "views" than the "issues." (His thoughts are echoed by real estate attorney John Braun, who said that most people spend more time test driving their cars than looking at the home they intend to buy.) "I think a lot of people -- 80 to 85 percent of people -- buy emotionally, and I get that. Buying a house is a dream," Juneau told AOL Real Estate. "I know it's hard, but homebuyers really need to separate their emotions from this transaction. Don't look at the home through rose-colored glasses; don't get too emotionally attached before the inspection. That's one of the most important things I can recommend."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV