According to Bankrate.com, one of the biggest issues Millennials have with buying their first house is that they had no idea just how much repairs will cost. They make home makeovers look easy and fun on TV, but nearly half of all buyers felt totally blindsided by the amount of work that it actually takes to fix up a property.
If you are getting ready to buy your first home, make sure you read this list first, so you can be totally prepared for any of the potential issues that a house may have.
20. The “As Is” Clause
If you are looking to buy an older home, watch out for the “As Is” clause. This will usually be included on the real estate listing, saying, “This home is to be sold as-is.” More often than not, you will see this on a house that has gone through foreclosure. That means that if you find anything seriously wrong with the property later, you cannot go after the person who sold it to you.
Usually, when this clause is in a contract, it means that there are several things wrong with the house that may prevent you from getting a certificate of occupancy, or “CO”. If you find a house you are thinking of buying with an “as is” clause, always have an inspector check the property, first.
19. Overgrown Plants
An older house with ivy growing up the side can be truly lovely. However, there is a huge difference between a little bit of well-maintained ivy, and plants that have gotten out of control. Ivy holds on to the cracks throughout the bricks and mortar of a house. Technically, this does not cause the damage, but it can potentially make it worse, and it’s masking the cracks instead of fixing it.
If you live on the east coast of the United States, there also may be hidden poison ivy and sumac. You will have to hire a team of specialists to wear full-body protective gear to remove the poisonous plants, and prevent it from growing back again next year.
18. The Septic System
If you are purchasing an older home in a rural area, it is likely to have its own septic system instead of using city water and sewer. This means that you are responsible for maintaining it. Having it pumped by a professional company is only $100 to $200, but certain areas have updated their Environmental Protection Agency standards. This means that you may be stuck with replacing an outdated septic system, which can cost over $10,000. If you discover that there is a septic tank on the property, always make sure to have it inspected before you agree to buy the house.