Wednesday, March 5, 2014

Home Inspection Top 5

One of the biggest myths about home inspections is that they are required. Home inspections are actually optional but usually recommended for peace of mind for the buyer.  There is a saying among agents (or maybe it's just me) that you can send three inspectors into a house and come back with three totally different reports.  While items each inspector chooses note or omit, there are some basic items that should be unanimous like code violations and safety hazards.  When it comes to cosmetic repairs and maintenance items, some inspectors can create a phone book of 'repairs' that can intimidate some buyers. But no worries, here are the top five things you need to look for in a home inspection

ROOF
   Starting from the top to the bottom a leaking roof can cause immediate damage to studs, rafters, and drywall. That moisture can then breed mold if not remedied.  Roof repairs can be reasonable, but replacing a roof can be extremely expensive.  If a house needs a new roof it is an expense that can be worth walking away from. When a roof has existing issues, there is no guarantee that your hazard insurance company will cover a new roof.

ELECTRICAL
   Outdated electrical systems or those with missing components can become a headache quickly. Older systems may require new breaker boxes & outlets.  Damaged or missing systems could add up to a ton of labor hours for an electrician to troubleshoot and remedy the issue. On top of that, it's an immediate fire hazard so any system with faulty components should be avoided if the owner is not willing to make the necessary repairs.

PLUMBING
   Plumbing issues can be very deceptive as they seem like very simple fixes, but the labor to repair them can get pricey. Broken, buried water lines & septic tanks are the more well-known issues to avoid but not many people know about things like polybutelene pipes which can be a nightmare if they begin to leak. There are home warranty companies like Old Republic & 2-10 Home Warranty that actually cover these systems and companies like Delta Mechanical in Lawrenceville that specialize in overhauls of these systems.  The labor for plumbing is two-sided since you pay for the parts & labor PLUS the expense of a separate contractor to repair the drywall & repaint walls that have to be opened to access the plumbing.

STRUCTURAL
   In my almost 12 years of real estate I haven't seen many homes with a structural problem, but when I did they were immediately evident. In some cases, the entire sections of the house will need to be rebuilt in order to preserve the structural integrity of the home. Sadly, some damage can be irreversible and the only options are to rebuild or temporarily brace the structure as there are not many long term solutions.

FOUNDATION
    While basements are the most popular location of a foundation issue, homes built on a crawl space and even homes on a slab can have foundation problems.  Crawl spaces can uncover an inadequate number of pillars and peeling back the carpet on a ranch may reveal a crack in the slab of the home. Most basement repairs can be done, but the prices can range from $4K to $60K+!!!

Mostly a home inspecting is to give you an unbiased assessment of a properties condition before you purchase it.  It also educates you on the numerous maintenance requirements a house demands along with the consequences if those items are not maintained. You should use your home inspection as a tool to negotiate repairs to be done prior to closing as well as a blueprint to items you need to address once you purchase a home and assume the responsibility for maintaining it.