The day is here! You’ve secured a mortgage that’s suitable for you and your family, you made an offer and got a great deal on a new home built in the decade of neon, big hair and dirty dancing.
Like, a great deal.
Wait, perhaps the deal is a little too great.
As is often the case, whenever something seems too good to be true, it usually is.
There’s a lot of things you can discover during the home inspection process after the offer is accepted. Some of these things might cause tears of joy, some might just cause tears.
To prepare for the waterworks, here’s 5 things a home inspector might tell you.
1. You Need a New Furnace or Hot Water Tank
“I can’t believe we got such a good deal!”
Well, when the home inspection tells you a new furnace and/or hot water tank is required, then the deal might be easier to understand. The good news is that it’s fairly simple to buy and install new equipment, but it will take a chunk out of your budget.
Verdict: Deal with it, but don’t break your budget.
2. You've Got Asbestos
Nothing screams 1980’s construction more than the presence of asbestos. Asbestos can cause health problems, structural complications and ultimately have a crushing effect on the future value of your new home. Unlike the hot water tank, however, buying an asbestos-laden home is rarely worth the effort.
Verdict: Move on, asbestos ain’t worth it.
3. Something is Happening Behind the Walls
Drywall, framing and sealing codes weren’t nearly as strict in the 1980’s as they are today. Particularly for homes in metro Vancouver, Edmonton and Calgary, insects like ants (or worse) can infiltrate shady caulking with ease. A quick call to a handyman or simply picking up a caulking gun can fix most problems related to poor seals in your home.
An inspector can also tell you where sub-standard electrical work exists behind the walls as well as issues with plumbing or ventilation. Knowing you need to hire a plumber or electrician before signing off on the deal is a lot more fun than discovering the problems later on.
Verdict: No problem, you got this.
Hope for the Best, Prep for the Worst
Home inspection is a necessity of any new purchase. If there’s any place you should absolutely not cut corners during the process, this is definitely not it. Regardless of the excitement you’ll feel after your offer is accepted, there could still be unseen elements lurking beyond your sight that will create massive headaches down the road.
Being totally aware of these potential headaches will help you make an educated decision about whether you should proceed with the deal.
Received an inspection report and unsure about the next step? Give us a call!