After you’ve been approved for your VA Home Loan, the next step is to start looking for your home (if you haven’t already decided). Depending on how you do it, it can either be stressful or a fun and exciting thing to do.
Although most issues should be caught by the inspector, you should always be vigilant in looking for possible problems with the home, especially if you’re looking at older homes. Below, we’ve compiled a list of issues that can be a pain to deal with that you should look out for when searching for a home.
Although not the worst thing to have to deal with, mold can be tricky to completely get rid of. While most molds aren’t going to hurt you, there are a few that can. If the inspector finds mold but doesn’t say what kind it is, you should have a second opinion come in and tell you what kind it is and how to best get rid of it. Alternatively, if you want a little D.I.Y. project, check out a guide on common mold types, how to identify them, and the best ways to get rid of each type.
Any foundation issues will most likely only be noticed by the inspector but can cause major issues in the future. The fixes for a foundational issue can often times get expensive unless it’s a very small fix. It’s not something you can just ignore, as it can deteriorate further and cause major problems.
You’ll have to decide if the house is worth enough to you that you want to fix it. When deciding this, you can give your local foundation repair company a call and get a free estimate to see how much money will go into fixing it.
Roof problems can be another issue that can be costly to deal with depending on the severity. Something minor like a small leak is easily dealt with, but replacing an entire roof will be expensive. If the roof is just old in general, it may be smart to have a roofing company replace your shingles.
Shingles can get beat up in the sun, and shingles constructed with new technology will perform better than old ones. You could also choose a different roofing material like ceramic tile, but there are pros and cons to each material, so be sure to do your research!
In older homes, a common problem we see is old wires deteriorating from time. A wire that is starting to deteriorate can be a very dangerous hazard, as it can easily spark a fire if the metal is exposed or broken. Technology in electrical systems have come a long way, and replacing an old wiring system is an easy way to keep your peace of mind. It can be expensive, but definitely something that’s worth it if you want the home.
If you or an inspector misses an issue, or a new issue develops while living in your home and it’s a little out of your budget, talk to your VA Home Loans Officer about refinancing. They’ll let you know what’s possible and what you qualify for, and recommend the best plan for you to take action.