Is Your New Home Going to Cost More than It's Worth?

Home Inspection is an important part of the home-buying process. It saves prospective buyers money in the long run by letting them know of any issues that might be associated with the property. There are other ways to know if the home is going to cost the buyer more than it's worth without a home inspector!

1. Visible Foundational and Structural Issues
   Visible damages can range from cracks in the foundation and walls, tilting/bulging walls, sagging floors, soil pulling away from the walls of the house to uneven gaps around windows and doors. The structure of the home is made up of the foundation and other structures such as load-bearing walls. If the foundation is defective, reconstruction or transfer of the soil-supported home to a deeper foundation is likely required. It can be expensive and difficult to correct.

2. Harmful and Hazardous Chemicals
   Older homes tend to contain harmful and hazardous materials in their construction like lead paint or asbestos(used in insulation and fireproofing materials). One common material that contained asbestos in the past are roof shingles and siding. A home inspector can identify this. Asbestos can be fatal so this is very important for the home buyer to consider. Removal of asbestos-containing material or lead-based paint can be very expensive depending on price per square foot, size and location.

3. Old Roof/Windows
   It is necessary to know how long the home buyer has before the roofs or windows of the house need replacement. Items that provide protection to the home from the outside often need to be looked into and taken care of immediately to evade more damage. If left in their original state, they can cause more damage like rot, mold, mildew and structural issues. Repairs such as this can easily drive costs into the six-figure range.

4. Water Damage
   Signs of water damage, dampness in walls/ceiling or presence of mold is indicative of a much bigger underlying issue that may require the home to be treated by professionals in addition to the repairs that would need to be done. 

5. Faulty Plumbing
   Outdated or corroded plumbing systems, specifically in older homes, would require a complete replacement to prevent other problems such as leaks, water damage and other health hazards. In this case, costs can also vary based on accessibility to pipes.

6. Defective Insulation
   Whether the home has poor energy efficiency or not enough insulation, both these cases can be costly to fix. Homes without enough insulation or energy-efficient systems will result in higher utility bills and remediating these issues can be expensive.

7. Infestation
   Bug and rodent infestation can also be an expensive fix. Sunken areas in walls, discarded shells or wings could be signs of a termite infestation. Termite damage and other infestations should be promptly addressed to avoid further damage to the structure of the home and these repairs can be extensive. 

8. Dated Electrical System
   Often older homes with outdated and inadequate electrical systems may need rewiring to meet current safety standards. Most outdated electrical systems are easy enough to identify with knob and tube or cloth-covered wires.

As you can see, there are a few ways to buy a house without using a traditional buyer’s agent. If you have any questions about buying a house - with or without a real estate agent. For more information, please check out our website at www.alokee.com or follow us on social media.

CA DRE# 02201041