Purchasing a home is traditionally the largest purchase many Americans will make in their lives. For many would-be homebuyers, they spend years saving money just to make a sizable down payment so their dream can become a reality. If you are purchasing an aging home, that dream can quickly turn into a nightmare.
Similar to “lemon” cars, it’s possible to buy a “lemon” home. A lemon house is a property with significant defects that not only affect value but also safety or habitability. Interestingly, some states are more prone to having lemon properties than others.
