We often talk about the importance of a home inspection when buying a property in Whistler and the issues to look out for in your prospective home, but what happens if it turns out that your dream home isn’t as perfect as you first thought?
Here are some common issues uncovered in home inspections that you can use to negotiate a lower price:
One of the most expensive issues a property can have is with the roof. This is the last thing that homeowners want to tackle as it can be very costly and time-consuming.
If your inspection reveals issues with the roof you have a number of options – you can walk away and look for another property, ask the seller to make the repairs, or you can ask the seller to drop the price in order to cover the repair costs.
Roof issues aren’t always the end of the world, though sometimes there are minor issues like loose shingles and small leaks. In these cases it’s still worth negotiating as small problems can lead to bigger issues if not addressed, but provide an opportunity to secure the property at a lower price.
Similar to roofing problems, faulty foundations can be very expensive to repair and cause a major risk to the property. Major issues here can include a breakdown of the foundation resulting in large cracks and broken brickwork, along with uneven floors.
If a seller is not willing to repair the foundations or reduce the price, you should walk away from the home as these issues are a major problem.
Your home inspector should also look through the property’s plumbing system and ensure that it is all working properly. Issues with the plumbing can quickly add up, costing thousands of dollars. Common problems include leaks, unsafe piping, poor DIY jobs, and faulty sump pumps.
Wiring and electrical issues are common in older properties where the systems have become outdated and need to be brought up to current building codes. This task can often be long and expensive but is essential as old wiring can be extremely dangerous and lead to fires or potential electric shock.
Materials and substances used in older homes such as lead-based paints and asbestos were common in construction up until the 1970s, however, these have now been shown to cause major health concerns.
Removing these is essential but requires the work of specialists and costs can quickly add up. If your prospective property has any of these materials it’s well worth negotiating a better deal.
For more information on how to negotiate your offer using your home inspection, get in touch with one of our Realtors.