House hunting is fun and exciting, but it’s also a process where keeping your eyes open is key. Some issues with a home or neighbourhood can be clear red flags, while others might seem like a big deal but really aren’t! Knowing the difference (and working with a REALTOR® who knows the difference) can save you a lot of hassle. Here’s how to spot real red flags—and red herrings!
Red Flags to Watch Out For…
Some things are worth digging into before making an offer. Here are the ones to take seriously:
1. The Sellers Haven’t Lived There Long, or The Home Has Had Many Owners
If the house has had a revolving door of owners, it’s worth asking why. Maybe there’s hidden issues with the home itself or something off about the area (or the neighbours!). Sure, it could be random, but this is one of those times to press for details. Ask your REALTOR® to get the scoop, do your own home inspection, and do some recon on the neighbourhood!
2. Lots of Turnover on the Street / Many For-Sale Signs in the Area
If half the street seems to be moving out, it’s a potential red flag. It might mean the neighbourhood is losing its appeal, which can lead to declining home values. This is where a local REALTOR®’s expertise becomes invaluable—they know the area inside and out and can provide valuable insights into what might be causing the turnover.
3. The House Is for Sale "As-Is"
Buying a home “as-is” means what you see is what you get—problems and all. This doesn’t automatically make it a bad buy, but it does mean you need to tread carefully. Arrange for thorough inspections (don’t forget pools, wells, septic systems, and anything else that may be applicable to the property) to uncover any surprises and consider whether you have the budget to handle potential repairs. Your REALTOR® and a contractor can help you figure out if it’s worth the risk!
What People Think Are Red Flags (But Really Aren’t)
Not everything that seems like a dealbreaker is actually a problem! Here are a few "red flags" you can probably relax about:
1. The Property Has Been on the Market for a While
When a home has been sitting unsold, it’s easy to think something must be wrong. But often, it just means the seller started with an unrealistic price or listed during a slower season. In fact, a property that’s been on the market for a while could give you more room to negotiate. Instead of jumping to conclusions, ask your REALTOR® about the history and consider it an opportunity to snag a deal.
2. The Home Is Back on the Market After a Conditional Sale
When a house pops back up after being conditionally sold, it doesn’t necessarily mean there’s something wrong with it. The original buyer could have had financing fall through or decided to back out for personal reasons. To ease your mind, ask why the deal didn’t close and see if you can review the inspection report from the previous buyer.
3. No One Else Is Bidding / No Offers Have Been Made
If a house isn’t attracting multiple offers, it’s not always a red flag. In slower markets or if the property hasn’t been advertised well, even great homes can fly under the radar. This might actually work to your advantage—you won’t have to deal with bidding wars or rush to make a decision. Trust your own judgment (and your REALTOR®’s advice) rather than worrying about what other buyers are—or aren’t—doing.
House hunting is all about finding a home that feels right for you. Knowing which issues to take seriously and which to shrug off can help you focus on what really matters. Work with a knowledgeable REALTOR® who can help you spot red flags and highlight opportunities that others might overlook. Stay vigilant, trust the process, and don’t let small details scare you away. The perfect home might be just around the corner!
