What to look out when hiring a home inspector
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Most home inspections go without a hitch. However, not all homes are perfect. The results of your inspection will determine what you do with them and how you structure the home purchase agreement. Here’s what to look for in a home inspection.
- You can fix or ignore minor items
- Sometimes, major problems may require the seller drop the price or to make repairs before closing.
- Extreme problems could endanger the deal. The seller either can’t afford or is unwilling to fix the problem
While cosmetic issues are not important, a poor foundation, a leaky roof, or toxic mold can make homeownership difficult and even ruin your financial future.
Home inspections: When the results are “iffy”
How can you find out what to look at in a home inspector report? If you are not a construction worker, it is possible to miss the jargon in your report. You can search the terminology online. But even then, you might not be able distinguish between minor and major threats to your new home.
Below are the most common concerns. These are the most serious potential deal-breakers.
Related: How a house inspection can help you save money
Whether they actually break the deal will depend on your seller’s willingness to fix the problem or compensate you for the cost of repairs. It may also depend upon how much you love your home and what your tolerance for risk.
About the report
It is important to understand the basics of home inspections before you begin worrying about what to expect in a home inspector’s report. According to the American Society of Home Inspectors, they should include:
- Heating system
- Central air conditioning system (temperature permitting)
- Interior plumbing and electrical systems
- Roof
- Attic, including visible insulation
- Walls
- Ceilings
- Floors
- Windows and doors
- Foundation
- Basement
- Structural components
Inspectors are limited to inspecting what they have access to. They won’t, for example, hack a way through drywall to get to an electrical panel.
Ask the agent or seller if you have any questions about the home. A home inspector can be hired. copy of ASHI’s Standard of Practice from its website.
Inspectors can be compared to family doctors in a limited sense. If either spot something that bothers him or her, you’re probably going to be referred to a specialist. This means higher fees.
What to look out for in a home inspector: Possible deal breakers
These are the issues that can lead to expensive repairs. However, it’s important to recognize that each home is unique. Recalling our medical analogy, something that sounds bad and can be expensive may actually be simple to fix.
Related: What should I do if my home inspector is not good enough?
Meanwhile, something else that’s rarely serious can occasionally be the start of something much bigger. The following list is not exhaustive or complete.
Foundations
Issues with foundations are the ones that strike the most fear in home buyers’ hearts. A minor problem can be repaired quickly and cheaply if caught early. But, more often, repair bills quickly run to four and maybe five figures — possibly even more for big homes with big problems.
That’s why many walk away from a purchase the moment the integrity of a home’s foundation is questioned. That’s probably a smart move, certainly if you don’t have significant financial resources.
But what if you love your home? It’s still not worth the gamble. You could hire a structural engineer that specializes in foundations. You will be able to understand the problem better and negotiate more effectively with the seller.
Termites
You may be grossed out by cockroaches but it’s relatively cheap and easy to get rid of them. Termites are quite another.
They are “detritivores,” meaning they feast on decaying vegetation. Drywood termites, like their name, love nothing more then to eat all the wood that supports a home.
Although it’s possible in most areas to eliminate a current infestation and then protect against future ones, that’s not the whole story. You may need a specialist to assess the structural damage they’ve already done.
Electrical
Rewiring your home can be expensive and disruptive. However, the safety risks associated with older wiring are too dangerous to live with.
Make sure to be cautious when the wiring in your new home is made of aluminum, as opposed to copper. There was a period in the 1960s and ’70s when many homes were wired this way because it was cheaper. We now know that aluminum is less safe than copper in electrical wiring.
Mold
Related: How to avoid home-building problems
It’s a myth that all molds are harmful to humans. Most aren’t and the chances are any your inspector sees can be easily and safely removed by you or the seller with some specialist spray and elbow grease.
Some molds can pose a serious health risk. They can even cause death. If your inspector reports mold but lacks the expertise to identify it, get in a specialist company to assess its danger — before anyone attempts a do-it-yourself solution.
Permits not available
It can backfire if a previous owner makes major renovations to the house without the required permits. To start with, you can’t be sure about the quality of the work.
But, more importantly, your homeowner’s insurance likely excludes any damage that arises from permitless work. Your insurer may also not cover the cost of repairing your home if it burns because the work was done poorly.
Other potential dangers that could be very costly
Some parts of the country used to have oil tanks buried in their yards to heat their homes. If there’s one in your new home’s yard, and oil starts leaching into the soil, you could face big removal and clean-up costs.
Polybutylene pipes are another potential concern. From 1978 until 1995, these were seen as “the pipes of the future” because they were cheap, light and easy to work with. Then, it was discovered that chlorine in many water supplies could react with plastic to cause its destruction.
When dealbreakers don’t break deals
You can walk away from your agreement if you find significant defects in your report. The problem is the homeowner’s, not yours.
Related: How to get rid of a contract for real estate
If you are satisfied with the property, you might prefer to negotiate with her rather than withdrawing completely. It is possible to come to an agreement that she does all the repairs. It is possible to negotiate a price decrease that covers the cost of repairs.
Of course, if you opt for the price reduction, you’ll bear all the risk if the issue turns out even worse than predicted. But you’ll also reap the rewards if it’s less so. Only you can decide on the level of risk with which you’re comfortable.
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