I often see a lot of bragging in real estate listing about renovations on older homes. You look at the pictures and see claims about all-new electrical and plumbing. everything "totally renovated" -- and the house is 80 years old. This raises certain questions, starting with this: Were permits pulled on all these things - plumbing, electrical and structural? If the owner can't produce you the pulled permits, you're taking on responsibility for the work possibly having been done wrong. And how much could it cost to repair problems down the road?
There are ways to protect yourself. First of all, ask questions and make sure you get answers, starting with the permits. Second, pay attention to the finishing details. The great telltale sign that something's wrong is when you see a somewhat sloppy finish. Look at trim and flooring and plasterwork: Do corners meet neatly? Have floors been levelled? Are the seams visible on the drywall? Is there sloppy caulking everywhere? Anytime there's a visual indication of something that's not good on the surface, just imagine what could be underneath.
RED FLAGS FOR FINISHED BASEMENTS:
1) Absence of necessary permits and inspection reports
2) Visible mildew, mold or dampness (musty smell)
3) Painted floors or vinyl, carpet or hardwood directly on concrete. Even if the carpet or hardwood was installed over a vapor barrier of 6-mil plastic, you will see problems in the future.
4) Wood or metal studs attached directly to exterior walls. Look for areas where you might be able to see how the wall was built: try behind the staircase, in a closet, or where the finished basement leads into a utility room
5) New electrical or plumbing: was it properly tied into the existing electrical and plumbing?
6) Inadequate ventilation for the furnace, if it has been placed in a utility room
7) Signs of improperly installed heating ducts and air returns in the basement
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