When you’re told the property you’re about to view has “good bones”, have you ever wondered what that really means?
It’s a familiar phrase in real estate to describe a house that might be old but has retained its structural integrity. This means if you’re looking for a property you can upgrade, you shouldn’t find yourself spending excessive cash on fixing fundamental problems.
If you’re in the market for a fixer-upper, then one with good bones is the ideal purchase because you’ll be able to channel your cash and time towards enhancing the property.
Your ability to recognize a property with good bones is essential if you seek to break into or improve your position in the property market.
Even if you’re not a construction expert, you’ll identify many of the problems if you know what to look for. And reassuringly, if you do fall in love with a property, you’ll always be able to use a building inspection as your second opinion.
As an experienced agent, I’ve worked with many clients who wanted a fixer-upper and helped them identify potential structural issues that could have added thousands to their upgrade costs. Here are some tips on what to be on watch for during a viewing.
- Basic warning signs – The big ones to watch out for are cracks in foundations, water in the basement, termite damage, mold on walls that signal rising damp, plus sagging floors and roof lines.
- Floors – Hardwood floors are usually a sign of a well-built home. Just check the foundations are also solid.
- Windows – Check out the quality of the windows and how they are hung. Try to spot any sign of water damage around the sills.
- Doors – Make sure the doors open and shut easily. A sticky door, or one that won’t close, can signal the building has moved.
- Ceiling stains – A coat of paint can hide tell-tale signs of water damage. Nevertheless, watch out for brown marks that betray a water issue. Pay attention to any rooms directly under an upstairs bathroom.
- Wall cracks – These are difficult to assess. Sometimes plaster will crack in heat or cold and not be a structural issue. It’s best to point this out to your building inspector for an expert opinion.
- Rusty gutters – The gutters themselves can be replaced, but it’s the water damage around them that you should assess.