Getting an offer accepted can be an exciting experience. But, in most cases, your home purchase is not a done deal just yet; before you close, you will need to get through the inspection process.
Ideally, the home inspector won’t find anything too concerning during the inspection. But there are certain home issues that may be uncovered during an inspection that could make you think twice about buying the home—thanks to the added time, stress, and costs those issues could throw into the mix.
So as a potential homebuyer, what, exactly, are those issues?
A recent article from realtor.com outlined some of the scariest (and most expensive!) things a home inspector might discover when inspecting a home, including:
An old deck
A deck can be a major selling point of a home. But decks also have a relatively short lifespan (12 to 15 years) before they start to corrode—which can lead to a collapse. If your inspector finds that the deck of the home needs to be rebuilt, you can expect to spend anywhere between $10,000 and $15,000 on the renovation.
A detached chimney
Repairing chimneys is an expensive undertaking; if the home inspector discovers that the chimney is detached from the house or has sustained significant damage, it will need to be replaced—which can cost upwards of $20,000.
Bad electrical panels
The electrical panels (also known as fuse boxes or breaker boxes) in older homes sometimes don’t work properly—and if your inspector finds that the electrical panels in your home need to be replaced, it will cost you between $5000 and $6000.
Bottom Line
If you are considering a home purchase, the home inspection is an important qualifier and one of the most important steps in the process. Let's connect so that we can help you get prepared for the homeownership adventure!
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