How to spot a money pit before you buy
Almost any house can be saved with enough money. The trick is knowing how much — before it's your money.
The expensive four
Most true money pits are made of the same big-ticket systems: foundation/structure, roof, electrical service, and sewer/plumbing. Cosmetic ugliness is cheap; these are not. Prioritize understanding them over the kitchen finishes.
Tells that there's more underneath
- Fresh paint only in one corner (hiding a stain), or a brand-new finished basement over old bones
- Doors and windows out of square; sloping floors
- Grading and downspouts pushing water toward the foundation
- A long stretch with no permits on an old house — deferred everything
- DIY electrical/plumbing without permits
Put a ceiling on the risk
"Money pit" is really just "repairs exceed what the finished home is worth." An Expresstimate makes that explicit: total expected repairs against time-adjusted comps, so you can see when a project crosses into teardown territory — and walk before you're underwater.