NEVER Buy These Types of Houses!
VloĹžit
- Äas pĹidĂĄn 24. 05. 2024
- Avoid Buying These House Types! Never Make This Huge Financial Mistake! If you are looking for the perfect home can be overwhelming, and it's easy to overlook warning signs when you find one that seems to meet all your criteria. But remember, buying a house is likely the most significant investment you'll ever make. That's why it's crucial to steer clear of certain types of properties that could lead to financial disaster. In this video, I'll reveal the types of houses you should never buy to ensure you make a sound investment decision. Don't miss out on this essential advice that could save you from costly regrets down the road!
đĄ NEED A REAL ESTATE EXPERT IN YOUR AREA? Click this link to get connected with your local expert! - FIND A EXPERT ANYWHERE! - go.jprealestateexperts.com/find-your-agent
â SUBSCIRBE for more super helpful videos!
âłď¸ AVOID MOVING TO SOUTH CAROLINA - Unless You Can Deal With These 10 Facts - ⢠AVOID MOVING TO SOUTH ...
âłď¸ REVEALED: Living In SOUTH CAROLINA vs NORTH CAROLINA - ⢠REVEALED: Living In SO...
âłď¸ INSIDE 3 NEW AFFORDABLE HOUSE TOUR IN SOUTH CAROLINA UNDER $300,000 - ⢠INSIDE 3 NEW AFFORDABL...
âłď¸ AVOID LIVING IN A 55 PLUS COMMUNITY - ⢠AVOID LIVING IN A 55 P...
âłď¸ Why Home Prices Havenât Crashed⌠Yet. Housing Market 2023 - ⢠Why Home Prices Havenâ...
âłď¸ 13 Affordable Home Lies!âŚNEVER Buy A Cheap House Without Knowing This! - ⢠13 Affordable Home Lie...
âłď¸ Absolutely NEVER Buy This Type Of Home - ⢠Absolutely NEVER Buy T...
âłď¸ 7 MASSIVE LIES About Manufactured (Mobile) Homes AFFORDABLE HOUSING! - ⢠7 MASSIVE LIES About M...
âłď¸ MUST KNOW Before Buying Land and Building A House - ⢠What You MUST KNOW Bef...
âłď¸ Alternative Places BEFORE Buying, Relocating or Retiring to Florida! - ⢠Moving To Florida? Alt...
âłď¸ ITâS OVER: Condo Owners CRUSHED! What You MUST KNOW! - ⢠ITâS OVER: Condo Owner...
Brought to you by:
Jerry Pinkas Real Estate Experts
604 N 27th Ave
Myrtle Beach, SC 29577
843-839-9870
đ˘ Start Here! - www.HomeGuideMyrtleBeach.com
Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research or provide legal, investment, or financial advice. For legal advice, consult a lawyer.
Every house that you buy requires upkeep and this is why first time homebuyers experience remorse because the honeymoon will be over and reality sets in; no more brunch on Sundays' instead it's Home Depot Saturdays' and painting the bedrooms on Sundays' followed by being tired going into work on Mondays'.
Hahaha, exactly
Yep, I haven't been to a Home Depot since I sold my house 4 years ago. No regrets, I'm a happy renter.
@@hansschotterradler3772 I get it....
Well saidđ
This all sounds like good, sound advice. The problem is that new houses are often ugly and shoddily constructed.
Its interesting, even with new construction codes they seem to be getting worse. My house was built in 1950 and little issues other the the normal. As long as you get a proper independant inspector, you can plan according in the price to pay that will fit the budget.
no interesting architectural details or nooks & crannies. Just boxes with low ceilings and no garden space.
Get your own inspector, donât trust your realtor? Speaking from experience.
Yes, I learned this the hard way too.
So true. My inspector saved me 2 weeks ago from a shady realtor.
@@gasolara2002 I'm curious, what was the realtor suggesting you do or not do?
I would avoid older houses that were remodeled into open concept, unless your inspection includes checking that the architect/engineering was done correctly and the roof is still supported. I think some of those open concept remodels are held together with screws and paint.
I lived in one HOA controlled community and hated every minute of it. I couldnât wait to get out. Sadly, though, itâs becoming nearly impossible to find communities without HOAâs.
All the disabilities of a single family home, with none of the advantages
I really like being in a HOA. They help to maintain my investment in my property by prohibiting neighbors from putting every trinket, pot, sign, automobile etc in their yard. Also they require people to take in their trash cans, keep their home maintained, mow their lawn and donât paint their homes in crazy colors. You should move out of your area. Iâll bet there are plenty of areas that arenât in a HOA You can live with mobile homes, cars in yards, purple houses and loose dogs and chickens everywhere. Good luck.
@@verticegirferd5069 HOAâs work well for some folks. Homogeneity is appealing, particularly for older folks who are set in their ways and have financial resources. I had never lived in an HOA controlled subdivision before and found that the mandates were onerous and unreasonable. I live in a non-HOA area now and am much happier with it. Interestingly, yours is the first comment in favor of an HOA other than one family member who also enjoys a strict set of codes. In the end, itâs a matter of preference.
I would avoid brand new builds that don't allow for the buyer to choose the inspector. Some builders don't allow 3rd party inspections which has hurt alot of people. It is also several documented issues of subpar work here on CZcams to back it up. Be careful as realtors might push for the new build as it has higher commission payments for them.
Well saidâŚand true!
Jerry, correct purchased a home built in 1957 for 120K 20 year ago and over time everything you talked about I replaced. Even the Asbestos basement floor.
Sadly 80% of us donât have this problem due to current interest rates đ
I have lived in two homes. One was a model home and the other a custom built. Both built in 1976. Never ever buy a tract home, especially the model home. The custom home, built by two Norwegian builders, was rock solid.
Never buy a home without walking around without a level to check for out of plumb and severely bowed walls and floors out of level.
I would never buy a home if I had no access to wall baseplates to check for termite damage. Termite damage can be easily hidden or undetectedable. Considering the fact that most homes in termite zones probably have some termite damage, this is an EXTREMELY IMPORTANT consideration in the purchase of old construction. For this reason alone I would only buy new construction. All framing members have to be well away from soil. I would prefer a basement with the first floor at least a foot off the ground.
Aluminum wire is still used in commercial construction
You are so appreciated. As always, thanks for sharing.
Houses with a flat roof have problems with water leaks even here in Arizona where we get very little rain
Amazing that in 2024 they canât permanently fix flat roofs
The majority of those 100+ year homes will outlast new houses by another 50 years or more if maintained properly. Also, they have had plenty of time for the ground under and around them to settle, so no worries about that.
Old homes can have a huge expense to update, but they are well worth it unless you are a flipper.
Evidence? Source: Trust me, bro.
No one can attest to that
I really like being in a HOA. They help to maintain my investment in my property by prohibiting neighbors from putting every trinket, pot, sign, automobile etc in their yard. Also they require people to take in their trash cans, keep their home maintained, mow their lawn and donât paint their homes in crazy colors. You should move out of your area. Iâll bet there are plenty of areas that arenât in a HOA You can live with mobile homes, cars in yards, purple houses and loose dogs and chickens everywhere. Good luck.
So yiure saying every non hoa neighborhood is trash? Are you a god?
Everything is fixable. As long as you understand what you are getting into.
Smartest comment on here....
If people have kids and once prices come back down then you should buy. Owning is a protection for your kids if they ever need a place due to job loss etc.
Try to get in a place with low property tax.
Number one on his list should be those with a steep long driveway and steep stairs going into the front door. Look for homes with a flat straight in front lot.
why?
Mobility. As people get older becomes harder to walk
Rain đ§
And avoid multiple split levels. Houses with more stairs than usable space are poorly designed and a nightmare to live in when you age and for family members with mobility issues.
I stripped most of the drywall to change the electrical wire to copper, especially in the kitchen and laundry room. I replaced the galvanized iron pipe while at it. Oh the poop you accumulated in the steel pipe was disgusting. I fixed and replaced roof and added structural reinforcement. I placed the structural plywood or lvl for the wall and the studs. I had to place 1/4 sheet rock over the structural plywood wall to plaster, yes, real plaster, the wall.
Jerry, with all your great information, the first thing that occured to me is how all those old towns in Europe, Mexico, etc. have even survived as long as they have! Flat roofs, old wiring and plumbing, drainage and sewage issues etc. How have people been able to yo live there!! By contrast, places like Mexico are flooded ( no pun intended) with new construction in the tourist areas, beaches, etc. which surely must be using cheaper materials together with some old fashioned defects. How do they survive? People buy them in Mexico, the Caribbean, in European locations, etc. Maybe it would be a terrific idea for you to do videos comparing all these issues in a few countries. Where we live in Canada we've been told how condos built before 2000 were superior because the contractors were often Europeans who used higher quality materials.
And back them people took pride in their work. Now itâs saw dust and glue build by god knows who!đ
@@annedon776 Correct......Sooner or later cities will run out of housing built between 1980 and 2000.
I have 45 yrs experience and have Brokered, Bought/Sold, Remodeled, Flipped, Invested, Built, etc., homes. đ You have some good info here, but as an investor/remodeler/reseller, some of these items you mention here are fine for me. More profit! I never bought any burned or black mold homes. Too many things to remediate and overcome at resale. .
More profit for you. More potential trouble for me capitalista
I agree with you. Donât buy houses in HOA.
Another good one Jerry. Thanks for this.
It was very helpful thanks
Great advice! Thank you!
Realtor's inspectors are a joke imo. House I bought had a jacuzzi in the basement. Steam was eating up gyprock walls. Winter time the furnace which used a turning wheel water kit to humidify the hot air of the furnace, it was a total disaster. I replace it by a conventional modern furnace. As for the jacuzzi I emptied it - 70 buckets of water in all. It will be demolished and replaced by a cupboards once I identify an able professionnal firm which is a challenge.
Thanks Jerry for the good adviceđ
Great advice. Thanks.
Thanks Jerry!
Very valuable info. Thank you!
1). I always look for a poured basement over cinder blocks. 2) I look at the roof for dips indicating poor choice of plywood thickness or adequate support beams. 3) Does the yard drain water away from the house. 4) Look for water stains anywhere. 5) Any cracks in the plaster inside of closets? My top 5 list. đ
Thank you for your invaluable knowledge you freely share.
I have a RE agent trying to sell me lots near me. But most are on hills or steep ravine types of areas. I told her I donât like those areas but she keeps sending them. So now I know I will totally avoid them.
Thanks again greetings from Los Angeles
Just don't buy a house.
Might be the smartest comment here.
As long as humans put money first and not god nothing changes. What happened to morals and values and integrity? This lieing crap that humans do for money is the devil. You are one of the good guy's sir. God bless you and your team and all the good people! Time to bring back god and common sense!
Yes, I agree. Trying to scare people into buying new builds is so moral.
Awesome job as always
Regarding old wiring, stay away from knob and tube wiring. There was a time when knob and tube wiring was common but it is not reliable. And stay away from circuit breaker panels manufactured by Federal Pacific, namely the Stab-Lok panels. These have been shown to fail and cause fires. I had one in my condo in a building built in 1961. I replaced it some 5 years ago or more for around $1,000. Thanks for the good advice.
Thank you Jerry, Very Expensive information.
From Ethiopia
I have become a 'Jerry Pinkas" fan.Another great video.Thanks. I'm a Senior Citizen,living alone and I will keep looking for now,but I will be calling you in the future.I feel I can trust you and your experience.
add to list. anything bought within the last 4 or 5 years. anything that is double in price what the buyer paid for it. anything where property taxes have gone ballistic because of some flipper tard. sorry some drastic changes need to be made before home ownership in usa is viable again.
Flipper tard. Love it đ Very fitting.
Great video.
Very helpful, Iâm moving next year. Al this information will help me with my house purchasing.
ALL THIS GOES FOR RENTING TOO! You rent one of these nightmares, you're going to live with these issues! Been there done that, be picky where you rent do a background check on your landlord.
Great words of wisdom . Especially with the HOAs
This video is very good.
I've live in a 53 year old home with aluminum wiring for 24 years. it the wiring is installed correctly it is not an issue. Most if not all the electrical lines in a city that service homes and businesses are aluminum which service the community with no issues.
I live in a house built in 1960. I love it.
Yeah "correctly" is the operative word. We just had an aluminum wiring failure in a 1972 A/C circuit that scorched a wall pretty well. Could have gone sideways quickly. Happily, the breaker blew. That's my father-in-law's house - rest his soul - which we're selling. If I were the buyer I'd pay a master electrician to go over every panel, outlet and junction box, and I'll tell him/her that.
I struggle with the fact that I love waterfront and live in a hurricane and flood prone area. Basically every house in my area is at risk.
So manufactured homes in a non flood area are ok?! Iâm excited
"Qualified" house inspector. Mmmhmmm....
Iâve bought many homes, have yet to find an honest home inspector.
@@wanda12411 Honest hasn't been a problem for us, but _competent_ is harder.
Excellent content
Just had galvanized pipe in my 70 year house burst. Had to replace plumbing from 2nd floor to basement. Replace this plumbing pipe when you see it
One thing you didnât mention is to hire an independent inspector, do not use the ones recommended by your realtor because this who work with the realtor have a vested interest in helping the realtor close the deal and may not put the interests of the home buyer first.
Thank you
Prior to 1978 they use asbestos and lead paint.
I recommend Buy homes built 2003 and after which was the last time the codes were updated for international residential construction codes.
Prior to 2003 it was Boca .
Iâm a Public Adjuster, Review your insurance and get the code upgrade endorsements on you policies. That will help with a lot of hazards when they show their head in older and newer homes.
This is a great video!
Not all of these are deal breakers as long as the buyer is aware of the issue and negotiates a reduction in price to cover the necessary upgrades or repairs. I have bought houses with Pb plumbing and just negotiated a credit to cover replacement and then had the whole house recipes before moving in. Within under 4 years the home tripled in price/value. Flat roofs are not an issues as long as they are properly maintained.
Most of these problems can be estimated and deducted from the cost of the house when making a offer on the house.
Lifelong building professional here (50 years). For many years I did inspections on the side. In my experience people didn't want to hear anything negative about a house because by the time they called me they had already bought the house in their minds (this was especially true of the women). I stopped doing that sort of work because it was not worth the money or the grief; I mean, if you know more than I do why on earth did you hire me and pay me for my opinion??
we bought a 20 year old house built in 1992. Had to replace all the leaking windows. All houses need maintenace. Double glazed only last 20 years. Wich the inspector had coaught it. Also roof went 5 years in. Asphalt roof only lasts 25 years. pay the derpeciation for new or maintain
There is a certain group of people that you want to look for as well, he doesn't mention them, but it should be your #1 concern. They can ruin everything. Home values drop rapidly, the schools and parks become war zones, crime spirals out of control, stores close, taxes rise to pay for the carnage they leave. If you see them, run. Some signs are non working cars in the street or on the front lawn, "teens" dancing on the roofs, or hanging outside after dark, a high local murder rate and dysfunctional local government.
Really enjoy your videos. What do you think about pie shaped lots? We just bought a 1991 house (2400 square feet) on a big pie shaped lot. Do you think this is good for future resale value? Thanks
Great video! Thank you.
Audra Lambert just had this video out yesterdayđ
Finding a great realtor is very rare. When we were looking to buy in 2002 the realtors were salesmen ,just trying to close a sale. I fired 3 agents and when to Real Estate school and got my license. It really spead up the process as we could get in faster to see a house.
All the hard work paid off...we financed the whole thing and only had to write a check for $100 at closing! And still got my commission. The best Realtor are representing the most expensive home in an area...in other words....money talks. If you're not wealth...go to school and learn as much as you can...about everything. đ¤
Wish had seen this 3 years ago at my first rodeo. There are a lot of agents who will take advantage of your trust. Learn and burn. Tiny house is next
The problem with buying a brand new house is that older homes are already built on the best locations.
EXCELLENT point. I actually just bought older (1991). Smaller house but bigger lot. Quiet cul de sac. Pie shaped lot
@@evhvariac2 Well, I would not buy a house older than 1980 either. But an older home is settled, has mature landscape, tends to give you more for the same price, you can see what the rush hour is like, and you know who your neighbors are.
Never buy a house at or above market value. Only buy a house if you buy today you can at least break even if you sell tomorrow.
Unfortunately, I can only afford an older home or condo in the Las Vegas area.
I bought a 70 y.o. house in Florida (which is like 100 years old in non-costal city). Never again. I prefer preowned homes, but I'll never go that old again.
My stucco house cracked and bulged after a few years. Cost me many thousand of dollars to fix. I sold the house would never get stucco sgsin
I would never move into a house which has an HOA. đŽ
Haha. Great stuff, but you didn't mention pools. Not that you absolutely don't want one. Rather that you need to know what you're getting into. It's about the same level of work as pet ownership, only pet lifetimes are shorter. Buying one with problems can quickly eat high 5 or even 6 figures, and spending that money is not optional.
Lots of "home inspections" don't include inground pools, because the inspector is not a pool expert. A pool is "a hole in ground that you keep pouring money into". Been there; done that. Like a boat (a hole in the water that you keep pouring money into) it's only worth it if you have plenty of money to (over)spend, and you like to throw parties and impress people. You're better off getting VERY friendly with someone that has a pool or a boat.
So, you want a home in Canada.
Add a table of contents with links.
My momâs house was built in 1860, yes that is not a typo 1860 and it is still standing strong and it is low maintenance. How about that đ
I disagree- my historic home has had much less issues than new construction. In 20 years, I have never head a plumbing leak in a 1930 house, and there are no foundation or structural issues. Contrast that with a family members new construction home that has had many plumbing leaks and needed foundation wall reebuilt. New construction is now built with PEX piping aka plastic and there is no long term data on the safety or durability.
Nice video Jerry.. I find it interesting that you always stress finding an " REALLY experienced realtor" Even you were not born a realtor, Jerry. At one time you were brand new to the industry. Most new realtors are working with very experienced Brokers.
Younger realtors are more hungry and try harder IMO. Older realtors have been condescending and tout the "I've been in this business for xx years" line which is an instant deal killer for me.
Great advice on the flood-zone map. In addition to that, you may want to add a request for high-voltage power line maps above and below ground. Also an updated map of cell phone tower locations. It may be controversial, but many people are health conscious and sensitive to living close to high output emf transmissions. Another one is school locations and school bus routes. Some people don't like a line of school busses lined up in front of their home at 7:30 AM.
Lots of research needed if you don't want any surprises.. Great video.đâ
Yes, great video. Beware of natural gas transmission lines.
Love my older home, I wouldnât consider paying thousands for the identical ugly boxes they are cheaply throwing up today.
"They don't build them like they used to" is such a tired line. Outside of the lumber likely being better, I'm not sure what is so appealing about older homes with lead, asbestos, nasty pipes, poor insulation, funky wiring, etc.
My brick home is close to a busy two-lane highway. Heavy trucks shake the floor. The settling has caused the front corner closest to the road @ 15 yards to split the mortar in ascending zigzag. But the rest of the home, seated further away is free from settling damage. I'm just glad it's brick!
đĽđĽ
Watch out for homes with asbestos in the wall material. If there is damage to the wall (due to water leak or flood) the cleanup and repair is very expensive as safety and regulatory guidelines must be met.
Might want to consider getting the walls tested for asbestos before buying.
FEMA maps are outdated.
Iâve been working since early 2006 and faced a significant setback when I lost my job. Despite this, I managed to grow my investment portfolio to about 700k Unfortunately, recent market fluctuations have caused my portfolio to lose nearly 48% of its value, which has left me feeling panicked about the future. With my retirement approaching, I am looking to mitigate risks and create a steady growth path for my portfolio. Additionally, I am planning to buy a new home, Given these circumstances, I would appreciate any advice.
Diversify your lnvestments to spread the-risk and stabilize your portfolio.
Just curious as the market overall has been going up, what were you invested in to lose 46% and unless it happened overnight, why did you not act well before that?
So this guy just wants your to rent... every one of this "don't buy" are easily fixed minus plumbing if it's pier beam you are aces period.
Buyers agent.
Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $12,000 and got my payout of m $270,500 every months,God bless Georgette Wong đşđ¸đşđ¸đşđ¸..
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
Great to see you guys talking about her, she changed the game for me.
Dumbas scammers
Please how can I contact her? I'd love to see for myself
I had to type it that way because of the Community guidelines
Never buy a slab house.
About 70% houses are on a slab.
People spend a lot when their crawl space gets rodents and other things happen to them too.
The basement in my prior 30 year old house AND current brand new house experience water leaks from outside, so a slab sounds pretty damn good to me.
Whether itâs a slab, crawlspace or basement it boils down to installation , drainage , maintenance and landscaping. Done wrong and any one of your options can become a nightmare. Personally I prefer a quality installed basement if youâre in the part of the country where basements are acceptable and experienced contractors are available.
@@boby115đŻ%!!!
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so Iâve been sticking to investing via an analyst
Could you possibly recommend a CFA you've consulted with?
The stock video footage is ridiculous and funny. Watch it closely and youâll see a man wearing a hard hat inside the office with a man going over plans on a blank sheet of paper and two home inspectors measuring nothing for no reason.
No thanks, I'll stick with my big, environmentally healthy 1978 wood house and not the new junk with moldy Chinese sheet rock, cheesy plumbing, and electrical switches wired to turn lights on who-knows-where in the house.
Gullibility and ignorance are the bedrock on which capitalism was built.
Such bs, I have made so much money
Off the houses I have bought. Just drool cup video
Jerry, this video, is really helpful. The more I watch your vids seems the better they getâŚ
You are right on point upfront with wealth of INFOMATION honest info.
These are great keep them coming đąđąđąđŞđąđąđą