Dream House or a Money Pit � How to Know and What to Do

A young pair moves into their dream house. Everything goes well, until they notice something very unfortunate. Their dream house is slowly falling apart. The doors are falling off, the bathtub is falling from the ceiling and in the end there is nothing left but the collapsed frame. If you know this story all too well, you are either a huge fan of Tom Hank�s movie �The Money Pit� from 1986 or you have learned the hard way your dream house is actually a volcano whose only purpose is to devour money. Let us see what you can do to avoid befalling into the latter group. 

Better Safe than Sorry � Identifying the Pit

1. The Virtue of Honesty
We all love unique Victorian houses or extravagant mansions. Also, we all at some point dreamt about having a man cave, dressing room, or any other kind of custom dream house. Take some time to assess whether or not your budget is capable of catching up with your dreams. The dream house does not even have to be that voracious, but if it is out of your boundaries, you will quickly be buried under the price of utilities and mortgages.

2. Check the Foundation
By inspecting the foundation and the basement you will get a great insight into the plumbing and electrical systems, and HVAC, and learn how well the previous owner maintained the house. Stay away from structural problems, unstable supports, leaking water heaters, and sagging floor joists.


3. Potential Water Problems
Basement is a great place to inspect potential water problems, but it makes just a small part of the much bigger DVW picture. It would not be a bad idea to pressure-test the entire system in order to discover some hidden malfunctions. Furthermore, look for signs of unpleasant smells or mold, which can also expose hidden water problems.

4. Damaged Windows
It is well advised that you check each window inside the house very thoroughly before buying it. Replacing the windows is a budget-busting task on its own, but if you fail to notice the damage early on, you will be served with another set of issues ranging from moisture to increased heating bills. 

Consequences of Poor Choices � Dealing with the Pit

There is, of course, a chance that, in spite of all of your efforts to recognize the money pit, your house will show its ugly face later on. If you find yourself in such situations, all of your choices will be reduced to Shakespearean dilemma of �To repair, or not to repair�.

1. Not to Repair
No matter how much you love your dream house there should be some red line after which you will not be willing to overlook its flaws. Do your math, determine the toll your house is taking each year, and do not be afraid to make some tough decisions � some of the affordable demolition contractors from Sidney will gladly help you to make a fresh start on the same lot. Alternatively, you can write- off the loss, and sell the house to the highest bidder.

2. Fighting the Odds
If you choose to stay in the same house, you should better try to solve all the burning issues at ones. Doing all the repairs together may initially cost you more, but it will save you a lot of money in the long run, so be ready to bite the bullet.  Choosing the right builders can be immensely helpful in mitigating this problem. Waiting while you can buy all the necessary equipment discounted, and making your house more sustainable should not be a bad idea, either.

People have always wondered �Can you put a price on a dream?�, and the answer is � �Sure you can�. Especially if that dream is something as simple as a house. Just be sure that the price is not too high, or your dreams may become nightmares.

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