February 9, 2012
Buying a home can be an expensive endeavor, and many potential buyers choose to shave a couple bucks off the final price by purchasing starter homes or properties that need a few repairs. And while this strategy can be an effective way to save money and, in some cases, personalize the house, knowing which repairs are more pressing can help new homeowners avoid delaying certain issues for too long.
Prioritize wiring and electrical issues
Focusing on correcting bad wiring should be a top priority for any new homeowner according to CNN Money. At best, electrical issues can cause headaches for homeowners when it comes to operating appliances, lights and electronics. But at worst, faulty electrical wiring can lead to fires and electrocution, which may result in fatalities, emotional trauma and financial problems, the news source explains.
Common signs of electrical problems include loose or hot outlets and
lights that frequently dim when other appliances are turned on. Individuals who experience these types of issues may want to enlist the services of a professional electrician to investigate and correct the problem. The service may set homeowners back a few hundred dollars and replacing bad wiring can range in the thousands, but sound peace of mind and a safe home can go a long way both mentally and financially.
Look for structural damage
Problems with a home's foundation can lead to dangerous cracking and shifting of the house, so it's important to repair any structural issues before focusing on less time-sensitive matters. Homeowners may spot structural damage by looking for cracks in masonry work, split beams and small piles of pine dust or mud trails, which suggests wood-boring insects or termites, the news source reports.
Homeowners who spot these common signs should contact a contractor to explore the damage and decide on a plan of action. Similar to correcting electrical problems, the costs of repairing structural damage can range into the thousands. However, failing to repair the problem could balloon into more severe and costly issues.
Examine roof and gutters
Rain storms and snowfall can cause big problems for homeowners if their roof and gutters are not up to par. Insufficient roofing or clogged gutters can lead to water leaking into the home or it's foundation, resulting in rotting, mold, electrical damage and insects. Roof inspectors can pinpoint any issues and propose a plan of action.