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The average home sales price is $514,800, as per U.S. Census Bureau data.
Below are fourred flags that could end up costing you a lot of money.
Electrical System Issues
Faulty electrical wiring can be a major expense.
According toAngi, a 1,000-square-foot home can cost anywhere from $2,000 to $4,000 to completely rewire.
Considering most homes today are bigger than that, costs can be much higher.
Its not just the expense thats the problem.
If your electrical system isnt up to code, it could pose a fire risk.
Also, get a professional inspection done to ensure the wiring is up to code.
Thats why its crucial to look for any signs of faulty plumbing before making any big decisions.
Some of the more obvious signs of plumbing problems include water damage on the ceiling or walls.
There could be leaks or mold that you cant see.
Again, having a third-party inspector can help you make a wise decision here.
A homes structural integrity is heavily reliant on its foundation, so everything starts there.
Issues in the foundation can lead to minor problems, like drywall cracks.
But they can also lead to bigger ones, like drainage problems, sinking ground or even bowing walls.
Foundation repairs can be expensive.
At a certain point, it might make more sense to just buy a different home.
At the very least, get a professional in there to check out the foundation.
Roof Problems
As perAngi estimates, a typical new roof can cost $5,857 to $13,129.
A large or high-end roof could cost closer to $47,000.
So if youve found a home youre interested in purchasing, check the roof first.
Depending on what you find, you might want to move on to the next property.
There are a few signs of roofing problems leaks being one of the big ones.
If theres a major leak, it could lead to mold or significant water damage.
Get the roof inspected and find out when it was last replaced.
Most roofs can last about 20 years with general maintenance.
This does depend on the material used and where you live, however.
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