The Housing Market Has Gone Mad
My son and his fiancée began searching for a home months before their wedding. Without a realtor, they scoured online listings, sharing their finds with my wife and me. We were shocked by the prices, a far cry from when we bought our house in 1987. Back then, banks required home inspections, including Title Five inspections for septic systems. Today, realtors advise buyers to waive these inspections to remain competitive in a seller’s market.
Buyers are forced to take enormous risks, often overpaying by as much as $150,000, sometimes with cash. It’s a daunting task for young working couples. I, a tradesman with 45 years of experience, know a thing or two about houses. When I accompanied my son to viewings, I’d call him after, sharing my honest opinions. In most cases, they didn’t want to hear it.
One house they wanted had two sump pumps and water stains on the foundation walls. I warned them, “If you buy that house, I’ll never set foot in it. It’s a piece of junk!” Greedy flippers often put lipstick on a pig, and first-time buyers can be easily fooled. I look for solid bones – framing, structural integrity, and functioning systems.
When my son asked about deal-breakers, I told him, “A house with two sump pumps and water stains is a no-go!” The realtor downplayed the issue, claiming the pumps were installed “just in case.” But the smell of mold and mildew in the basement told a different story.
I saw another house with unfilled holes in the foundation, a dozen mouse traps scattered around the basement, and a history of rodent infestation. That’s a hard pass. Some things can be fixed, but not a house built on a high water table or overrun with rodents.
Another property had in-ground termite traps, which the realtor attributed to the previous owners being cautious. I wasn’t buying it. Without a home inspection, they’d be taking a huge risk. And then there were the neighbors – one with a dozen flags and signs, another with a life-size plastic horse in the front yard. You can’t choose your neighbors, but you can choose a house without red flags.
I never sugarcoated my observations, and at times, I thought they’d had enough of my input. But they listened, and I hoped that eventually, I’d find a house that met my standards. Would they take my advice, or would they decide to go it alone? Only time would tell.
Leave a Reply