You’re looking at a home—it’s picture perfect! At least, there’s nothing that a new roll of carpeting and a few coats of paint can’t fix, right? Not necessarily. When you’re buying a home, you’re making a huge investment. You need to make sure that everything is as functional as it seems at first glance.
A professional home inspection will help you decide whether or not to seal the deal. Beware these five common issues revealed by home inspections; they could make or break the decision (not to mention affect your insurance rates).
While homeowners insurance quotes from CoverHound can help you outfit your new abode with a policy that provides ample coverage without breaking the bank, some houses will simply be a money drain from start to finish. That’s why it’s important to pay attention to inspection results.
As one house inspector writes for HGTV, improper grade sloping or draining back toward the home “could lead to damp or wet crawlspaces, foundation movement, cracking or settlement.” The last thing you want is a home that gets musty and moldy every spring! It’s an expensive problem to fix over time, so an inspection that turns up drainage seeping back toward the home may indicate you should pass on the property in question.
Some foundational flaws can be fixed with some artful silicon caulking and epoxy; others are far more serious. If you and your inspector notice sloped floors, visible cracks in the foundation or ill-fitting windows and doors, you may want to think twice about purchasing the home. Over time, an askew foundation only tends to get worse. Get a quote on what it would take to fix it and consider factors like its future “sellability” (not to mention your present-day safety).
Faulty electrical wiring
According to the International Association of Certified Home Inspectors, almost 20 percent of home inspectors cited improper electrical wiring as the most common house defect. There’s an entire range of things that can go wrong when it comes to electricity: lack of overload protection, DIY wiring and insufficient electrical flow to the house, to name just a few.
Make sure the wiring is up to snuff so you don’t face an unfortunate fire or power interruption down the line. The silver lining is that updating systems (like electrical or plumbing) can sometimes knock a percentage off your homeowners insurance.
Defective plumbing system
You may be able to identify a bunk plumbing system yourself by running the water or flushing a toilet and listening for odd noises and looking for obvious malfunctions. For some aspects, like the sewer line, you’ll need a professional inspector to look for cracks or damages.
Gutters often seem like an accessory on a home, but did you know that they can make the difference between a dry home and a soaking-wet mess? Walk around the home and inspect the gutters to assess how much you would need to add or replace to make them fully functional; the dryness of your walls, basement and roof may depend on it.
In order to determine if a real estate listing is a good investment, you’ll need to schedule a professional home inspection and seriously consider the results. If it turns out to be a solid buy, the next step will be comparing homeowners insurance quotes to get a better idea of how much monthly premiums will be.
No matter what stage of the home-buying or owning process you’re in, CoverHound can help simple. Discover your policy options today!