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Should You Buy A House That Needs Remodeling?

By now you’ve been totally charmed by HGTV shows like Fixer Upper.  While the idea of buying a home that needs remodeling scares a lot of people, for others it’s a welcome challenge because they can really make the house the home they really want it to be.  

It’s one thing to buy a house that just needs a cosmetic update and another thing to buy a house that has some serious problems.  Since walls can’t talk, you’ll want to have the fixer home you’ve made an offer on inspected to help you discover what may be lurking behind those walls.

You should proceed with caution if the inspection reveals costly issues relating to any of the following:

Indoor Air Quality

Extensive mold growth in a home

Mold is a health hazard that we’re really only now beginning to understand. Some mold is dangerous enough that it can sicken someone with very little exposure. Other types of mold cause illness over a period of time, or make conditions like asthma worse.

Asbestos is common in flooring and ceiling materials in homes built prior to the 1980s. Lead-based paint (used in homes built in the U.S before 1978) may have been covered over by attempts to freshen up walls or woodwork. While the mere presence of asbestos and/or lead is not necessarily hazardous, release of asbestos fibers and/or lead dust is.   

Radon is a lung cancer-causing radioactive gas that you can’t see or smell that is an issue found throughout the U.S. It seeps through the ground, then into the air to make its way through cracks and other openings in your foundation and even your water supply.

Electrical problems

Overloaded power board in home office

If the the current owner is using a lot of extension cords, you noticed that the number of outlets are few and far between (perhaps even in questionable working order), there are ‘brownouts’ when you plug in extra lights or turn on major appliances, you blew a fuse, or the house is over fifteen years old, you’re likely going to need to upgrade your electrical system. This especially true if your remodel calls for brand new major appliances or big power-using additions like a hot tub.

Building code changes

Building codes change over time.  Depending on the scope of work for your project and your state/local building codes, making any significant change to your home may require that you to bring the entire structure up to code. If this is the case, these costs need to be known and planned for so you don’t break your budget.  

Plumbing issues

Damage from a plumbing leak

Low water pressure and drains that back up frequently are two red flags that might indicate bigger plumbing issues. Sometimes the plumbing wasn’t installed correctly in the first place, or subsequently patched repairs created the problem. In other cases, clogged pipes, leaking water mains and water-hogging fixtures can not only waste water (which costs money), but they can also result in water damage and the need for costly plumbing repairs.

Structural issues

Earthquake damage

Foundation cracks could be an indicator of hydrostatic pressure, poor compaction, plumbing leaks or tree roots.  

Water flow from the roof that causes problems with drainage near the foundation of the house, standing water, or runoff during storms.  

Annoyances like like slanted floors and doorways that aren’t level might be an indicator of bigger problems due to soil or poor construction.

Back to the question…Should you buy a house that needs remodeling?  If it costs too much to repair a fixer-upper, walk away.