Is The House A Money Pit Or Handyman’s Special? By LendingTree Editorial Staff At Isnare.com Ezine Articles

You fall in love with a house – the elegant front porch, the wood-burning fireplace in the living room, the roomy eat-in kitchen, the expansive master bedroom. All it needs is a little TLC. You’ll just fix the rotting floorboards on the porch, get rid of the raccoons in the chimney and put a coat of paint on the walls.

Before you know it, you discover that termites inhabit the rotting floorboards, none of the bathrooms work and the wiring is hopelessly out of date. Winter comes and the furnace doesn’t work. The list of disasters goes on and on.

How do you avoid a money pit? Read our tips to find out.

Look beyond dirt and décor problems.

Unattractive wallpaper, ugly tiles and dirty carpets are easy and relatively inexpensive to replace. You can also landscape a run-down yard. As long as the problems aren’t an indicator of serious neglect, a house that’s just a little worse for wear may actually be a great bargain.

Distinguish ongoing maintenance jobs from emergency repairs.

Every house will eventually need a new furnace, roof and appliances. So don’t cross a place off your list just because it has an elderly furnace, worn shingles or a no-frills fridge – all of which you can replace in good time. Look out for a furnace that doesn’t work or leaks carbon monoxide, missing shingles and appliances that don’t turn on. They mean immediate repair and replacement expenditures.

Keep an eye out for water damage.

Stains around skylights or on ceilings can mean a leaky roof and, possibly, water damage to the structure. Flaking paint around window frames and peeling paint in bathrooms are signs of moisture problems that could be expensive to fix. And a musty smell in the basement could mean a leaky toilet up above, a main drain that’s clogged or cracked, or a leaky foundation – all of which can be costly and difficult to rectify.

Avoid structural problems.

The major sign is continuous cracking in the brick or foundation. Other symptoms, in addition to those listed above: brick veneer, window frames, floor tiles or parquet that are separating or lifting; doors or windows that don’t shut properly; floors that are crooked (a marble on the ground shouldn’t roll); and leaning walls.

For more ways to spot a money pit, visit http://www.lendingtree.com/cec/yourhome/buying/fixer-upper-vs-money-pit.asp

Published At: Isnare Free Articles Directory http://www.isnare.com
Permanent Link: http://www.isnare.com/?aid=37641&ca=Real+Estate

Important Notice DISCLAIMER: All information, content, and data in this article are sole opinions and/or findings of the individual user or organization that registered and submitted this article at Isnare.com without any fee. The article is strictly for educational or entertainment purposes only and should not be used in any way, implemented or applied without consultation from a professional. We at Isnare.com do not, in anyway, contribute or include our own findings, facts and opinions in any articles presented in this site. Publishing this article does not constitute Isnare.com's support or sponsorship for this article. Isnare.com is an article publishing service. Please read our Terms of Service for more information.