Think backward from the most expensive things to fix. You think an electrical panel, but that's often a few thousand. Much more if there needs to be a rewire. But the whole house's siding is deteriorating and there may be water intrusion issues? That's a huge bill. Unworkable old floor plan? That's a huge bill. Water penetration in the basement--costly. Bathroom needs retiling? Less of a concern because you may already want to redecorate.

Lots of great advice already so I will just add one more.

Pool: how old are the heater, filter, pump, drains? Is it to code and when was the last time it was drained and replastered? Is there an automatic cover and what condition is it in?

PP. Also no properties with large sections of retaining walls.

Street drainage situation. Preferably curb and gutter. If it's open drainage, figure out if the property is at risk of local flooding.

Yard drainage situation. Hopefully not towards house.

Foundation

Roof

Anonymous wrote:Basement water issues are a big deal. We just passed on a property after our agent pointed out evidence of mud seeping into the basement and the yard sloping steeply towards the house.

Mud? How do you get mud seeping into a building?

Anonymous wrote:I’m more concerned with things behind the walls like electrical and plumbing. Items like roof, HVAC and windows are easy to replace. The one thing I learned from a recent experience was to redo floors before moving in.

What if you’re not sanding but actually replacing? Is that as bad?

^^PP, I would definitely stay away from basement water issues, that could be a losing, very expensive battle with no guaranteed outcome.

I would look at all the major systems mentioned above. At the end of the day, just about anything can be fixed, but it comes at a cost. If the house is already at the top of your budget, and you see old single pane windows, decrepit HVAC, and an old rusty electric panel, you can make an informed decision that you will likely need to spend $50,000-$100,000 to get the house up to modern standards, so maybe you pass. Conversely, if you find a house that's priced below your max, maybe you're willing to spend that money to get new systems. The hard part is when people max their budget on the house purchase and then don't realize they are in for some very expensive (non-cosmetic) repairs when things break shortly after moving in.

I look for tree health and roots. The cost is huge if you have to take down trees and if they are going to ruin your plumbing it is a large cost.

Foundation and Roof in good shape. For the people that say the roof is an easy fix - it is, but very expensive.

Look at the electrical panel and outlets to see if there is room on the panel and how dated the electric is.

Anonymous wrote:Proper Yard Drainage and slope, no basement water issues, foundation, windows, roof, HVAC, plumbing, electrical, proper permits for any add ons, parking, “custom” electrical and plumbing jobs. Is it obvious owner took are of the house?

This person knows what's up.

Roof, Hvac, windows, electrical, appliances, condition/age of kitchen and bathrooms.

Proper Yard Drainage and slope, no basement water issues, foundation, windows, roof, HVAC, plumbing, electrical, proper permits for any add ons, parking, “custom” electrical and plumbing jobs. Is it obvious owner took are of the house?

Basement water issues are a big deal. We just passed on a property after our agent pointed out evidence of mud seeping into the basement and the yard sloping steeply towards the house.