Warning signs a house could be a money pit

That house with “character” could turn out to be a house of repair horrors. Here are the subtle signs the house you love is going to cost you more than just the purchase price.

“Some burning smells are harmless and very common, especially when you turn the heat on, but others are more concerning,” says Richard Ciresi, owner of an air conditioning maintenance company. “An electrical burning odour could indicate an overheated blower motor, which could mean mechanical problems or frayed electrical wiring in your heater.” Other odours like a gunpowder-like aroma could be from a fried circuit board or motor fan. Pungent smells from the air conditioning vents generally signal the air conditioner wire insulation is fried. “All other types of burning heater smells are potentially dangerous, expensive to fix, and demand inspection from a qualified heating technician,” says Ciresi.

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If the windows don’t open, stick, or are drafty, the only thing you’ll be opening is your wallet – to pay for a houseful of new windows. “As structures shift and settle over time, insulation, caulking and other protective materials slowly lose their protective powers, such as older homes leaking air conditioning in the summer and heat in the winter,” says Larry Patterson, of Glass Doctor. A house full of warped or damaged windows comes with a hefty replacement price tag. Replacing windows in an old house is probably a job you want to pay a pro to do.

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Take a closer look around appliances that connect to plumbing, suggests plumbing expert Doyle James, president of Mr. Rooter Plumbing, a Neighborly Company. “You want to look for warping floors around the toilets, dishwasher and refrigerator. Make sure the flooring is solid in each of these areas and that there’s no staining.” Check out the ceilings below second-floor bathrooms, too. “Any sort of musty smell could also indicate a long-term leak that needs attention.” Warped floors, water damaged walls and ceilings and plumbing repairs can be a renovation nightmare.

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Kitchen and bathroom sinks are all working and have running water, so the plumbing is probably good, right? Not necessarily. According to James, you need to dive in and test for other functions. Make sure the toilets flush without gurgling or burping; if they do, you could have septic tank issues. Taps should emit hot and cold water freely. Check for water pressure and drips too. “A lack of water pressure can be a sign of more serious plumbing issues lingering beneath the surface,” says James. “Drips are signs the house is experiencing leaks, which can add to your regular utility bill and also lead to expensive repairs.”

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Taking a loo break during a home tour isn’t something you would normally do, but you may want to consider it if the house is a serious contender. In homes built with a wooden floor truss system, the sub floor is most likely made of plywood, which is subjected to moisture. If the sub floor is rotting it will feel soft or spongy in places, causing things like the toilet to feel unstable when you sit down. “This could lead to your entire floor collapsing if left unattended,” cautions Jack White, certified restorer and water-loss specialist.

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If these walls could talk, they may tell you about the money pit you’re about to fall into. “When drywall absorbs water, it begins to swell and become soft. Over time, the damaged area starts to crumble, especially around the baseboards,” says White. Run your hands across the walls in each of the rooms. “If it feels uneven or looks crooked when you look at it, have it checked by a professional,” says White.

Mould spores are everywhere but when they drop on places where leakage may have occurred, like in roofs, walls, ceiling tiles, insulation, you could have a money pit hiding beneath the surface. “Mould is actually built from the inside out so that by the time you are able to see it, no matter how much you scrub, the problem will not go away,” says White. You’re looking at mould remediation, at a minimum, and replacing building materials and housing components if the damage is severe.

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An old house with vintage fixtures is a wonderful discovery for some home buyers, but before you sign on the dotted line, proceed with caution. “Cracked waste stacks, old brass plumbing, remnants of knob-and-tube electrical, ceiling stains from prior water saturation, oil stains from leaking tanks, asbestos pipe-wrap and mortar dust around the perimeter are all common in old homes,” says realtor Kate Ziegler. “One or two of these is not a death warrant for the deal, but all of them in combination will be costly.”

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“Even if you view a home on a beautiful, sunny day, check the gutters!” Ziegler says. Disconnected or missing downpipes and gutters are signs that point to a possible money pit. “Over time, water can degrade mortar and wash out soil that is supporting foundation walls, and water flowing down siding rather than through downspouts can speed the deterioration of those materials,” says Ziegler.

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