If you’ve been searching for your dream home, there’s nothing like the relief of finally being under contract. Now the only thing standing between you and your perfect place is the home inspection. And frankly, you’re a little nervous. What if it flunks the test? Now, whatever the inspection turns up, the decision is ultimately up to you—not the home inspector—because you’re the one who’s deciding whether to buy the house. So, what are some inspection issues that should make you think twice?
Here are five signs your dream home may be more of a curse than a blessing:
1. Outdated Electrical Wiring
With today’s families using more gadgets than ever, it’s important to make sure your home’s electrical system isn’t past its prime. It might be time for an upgrade if your home inspector finds overloaded outlets or a panel that’s wired with too many circuits. Pay close attention to aluminum wiring if it shows up on your home inspection report. It was used between 1965 and the mid-1970s instead of copper wiring, and it’s a fire hazard because it tends to overheat at connections. Yikes!
2. Foundation Damage
Do you remember the parable about the wise man who built his house upon the rock? If there’s one lesson we learned from that story, it’s that your foundation counts! Every home experiences some degree of settling. A qualified home inspector can tell you when a seemingly minor crack spells major trouble. And watch out for bulging or bowing foundation walls, which is a sign of structural weakness that can be expensive to repair.
3. Septic Tank Failure
If your new home comes with a septic tank, make sure trouble isn’t bubbling below the surface. A failing septic tank can cost thousands of dollars to replace. That’s a (literally) stinky way to start life in your new home! Foul odors, slow or gurgling drains, and standing water are common symptoms of a septic tank that needs some TLC.
4. Water Intrusion
Water’s usually a pretty good thing, but it can wreak havoc when it creeps into places it shouldn’t. Your home inspector should investigate any water stains to determine if there’s an active leak and to check for the presence of mold. A brown spot on the ceiling, for example, may indicate a faulty roof, while stains on basement walls can clue you in to drainage issues—and neither are a cheap fix.
5. Mold
A home plagued by mold isn’t just gross—it can harm your health too. You can typically clean up areas of mold that cover less than 10 square feet on your own without breaking the bank. But extensive growth requires professional help. The cost of removing mold from crawl spaces, walls and ducts can easily be thousands of dollars, depending on the scope of the damage.
Just because your home inspector uncovers an issue doesn’t guarantee the seller will fix it. Ultimately, you decide whether to walk away or negotiate with the seller, and a lot of that depends on your budget and willingness to take on a major home improvement project. Depending on where you live, the buyer contract usually has a clause in it that lets the buyer back out if something really bad turns up on the home inspection. Source
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