Housing Market 2023: Buying a Home? Be Wary of These 6 Home Inspection Issues

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There are few things more exciting than purchasing your first home, but for the first-time buyer, there can be a lot of hidden costs. One thing that many people do not think about is the cost of issues that should have been detected during a home inspection. Home inspections are critical during the buying process because they can alert you to serious issues the property may have and save you tons of money down the road.

While home inspections are generally not required by lenders, they’re strongly recommended. A lender generally requires an appraisal of the property but may not mandate that you have it inspected. A comprehensive home inspection is often enlightening for both the current owner and the potential buyer.

Many issues may be highlighted in the report that neither party knew existed. The best thing is to identify these issues so they can be addressed. If you’re buying a home this year, here are six home inspection issues you should be aware of.

Mold

Mold–one of the most terrifying four-letter words a homeowner can hear. Horror stories plague the internet about what mold can do to your family. Mold exposure has been linked to allergy-like symptoms ranging from mild to severe. It can cause headaches, skin rash, asthma, pneumonitis, and more. 

Getting rid of mold isn’t always easy. It usually needs to be handled by a professional. If your home inspector finds mold, you should work with a certified mold remediator to rectify the issue. If you’re working with a real estate agent, they may be able to ask the seller to reduce the price or pay for the remediation. The most important thing for the health and safety of your family is to get it fixed before moving into the home.

Roof Problems

A home inspection report detailing some degree of damage on the roof is standard. According to the Inspection Support Network, 19.7% of inspection reports uncover roofing issues. This can be anything from a leak to insufficient venting. 

As with any other issue detailed in the inspection, you can submit a buyer’s request for repairs if there are problems detected with the roof. You may be able to back out of the sale if the seller is unwilling to negotiate a lower price or repair the roof. However, it depends on your contract. Roofing repairs are some of the most expensive, so having a firm understanding of its condition is imperative.

Faulty Wiring

Faulty wiring can be a safety concern for any potential homebuyer. Whether there are ungrounded outlets, or the wiring is exposed, it could lead to serious injury or a house fire. Electrical issues found during a home inspection should be reported to the seller and may be a fair point of negotiation. Ask for wiring to be fixed immediately. Since faulty wiring and other electrical issues pose a health and safety risk, this issue should be remedied.

Plumbing Issues

The last thing a homeowner wants to deal with is plumbing issues. From galvanized pipes to clogged sewer lines, you usually find out that there is a problem after the fact. Heed the warnings given during your home inspection and negotiate for the issue to be resolved prior to your closing escrow. 

Depending on the state, the buyer usually has a little over two weeks to conduct inspections and negotiate repairs. Do not remove contingencies until all of your concerns have been addressed.

Inadequate Drainage

It might not be obvious from the initial walkthrough, but many homes have drainage issues. During wet weather events, improper drainage could cause structural damage. There is also the risk of water buildup causing problems such as a pest infestation or uneven pavement. Your home inspection should include detailed information about drainage and grading around the house.

Insufficient Insulation

While it may not feel important when the weather is perfect outside, insufficient insulation can be a real drag during the summer and winter months. Insulation works to regulate your home’s temperature by trapping cool air indoors during the summer and retaining warm air during the winter.

If the house does not have proper insulation, you’ll end up spending a lot of money trying to heat and cool your home. While improper insulation may not be a reason to back out of a contract, it is something you will want to have remedied. Fortunately, it’s a fairly simple and inexpensive fix.

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