Going home shopping for the first time is quite the experience. It can be fun, but it can also get to be exhausting--especially when you're touring multiple homes for sale in one day. The last thing you want is to waste your time on a home that hasn't been well maintained or that's going to give you problems down the road, so it can be helpful to learn how to spot some common red flags. These can be a sign that you're better off walking away from the home.

Suspicious Neighbors

It's not always easy to get a true feel for any given neighborhood, especially after just one visit. Therefore, if you find a home that you're interested in, you'll want to come back to visit the neighborhood a few times at various points during the day. For example, things may have seemed peaceful and quiet when you visited for a Sunday open house, but the neighborhood may tell a different story on a Friday night.

Lots of Homes For Sale

Another red flag to be on the lookout for as you shop for your first home is a neighborhood with lots of homes for sale. Sure, it could be a coincidence, but it could also be a sign that multiple people are trying to get out of the neighborhood for a particular reason. Perhaps property values are on the decline or there has been an increase in crime. Either way, it's something to be aware of.

Peeling Paint or Wallpaper

Moving into the inside of a home, keep an eye open for peeling paint or wallpaper. While this could simply be a sign that a wall needs a new paint job or that the wallpaper is old, it could also be a sign of indoor moisture problems. If you notice peeling paint, also be on the lookout for a musty smell, mildew, and/or mold. A home with moisture issues probably isn't something you want to take on in your first home purchase.

Lack of Basic Maintenance

Any home on the market should be well taken care of when it comes to basic maintenance. For instance, the lawn should be mowed, light fixtures should be working, and everything should be clean. If even basic maintenance and care of the home seems to have been neglected, this is a pretty good sign that the home hasn't been cared for very well over the years, which means serious problems could be lurking around the corner.