Electrical System
There are many reasons to inspect the electrical system of any home you are considering for purchase, especially an older home. A faulty electrical system can put both you and your family in danger. Every year, hundreds of homes are destroyed by fires caused by problems in the electrical system. And every year people are killed in these fires. Protect yourself by having the electrical system inspected by a qualified professional.
There is another reason to have this inspection performed. In many jurisdictions, there are codes that must be met before you can legally reside in your new home. Also, if you are obtaining a mortgage, your lending institution may require a thorough inspection before they will approve the mortgage request. This is to ensure that they know where they’re money is going. Most institutions won’t want to invest money in a property that’s not worth it.
Foundation
One of the most overlooked aspects of a purchasing an older home is the foundation. A flawed foundation can cause problems, both now and in the future. The foundation should be straight and level. It should also stretch the entire length and width of the home. If any portion of the home does not have an adequate foundation, consider a different potential home. Also have a professional look for any serious cracks. Some cracking is normal, but serious cracks can indicate a larger problem. Fixing a foundation is very expensive, so walk away from any home with a flawed foundation.
Heating and Cooling System
Unless you enjoy being too hot or too cold, you’d better take a close look at the heating and cooling system of any potential home. A furnace that malfunctions can be both a hazard and an inconvenience. Unfortunately, unless you’re experienced in the function and maintenance of a furnace, you’ll probably overlook something important. Furnaces just aren’t that user friendly. It’s probably a good idea to hire a professional to inspect the system before you put an offer in on the home.
Plumbing
Replacing an entire system of pipes is incredibly expensive. Even lesser plumbing problems cost a lot of money to fix. And an unexpected problem with pipes can cause so much damage that you’ll just want to tear the house down and build anew. Before you sign anything or make a single concrete offer, have the plumbing inspected. If you do wish to make an offer on an older home before having this inspection performed, make sure you make the offer conditional upon a satisfactory inspection. Get this in writing before you make your offer.
Roof
Another very expensive fix is a damaged or substandard roof. In addition to the costs associated with repairing a roof, you may have to fix any damage caused to the interior of the home by an ill-timed leak. To ensure that the roof is in good repair, look for any missing or damaged shingles and an excess of moss growing on the roof itself. Also keep your eyes open when you’re touring the home. Any staining from water leaks should be noted.
A roof in need of repair doesn’t necessarily mean that you can’t purchase the home. But you will want to take the cost of a new roof into consideration when making an offer. It might be prudent to deduct the expense of a new roof from the asking price of the home.
Whatever your reasons for purchasing a pre-owned home, be aware that you will have to deal with some amount of wear and tear. This is normal, especially if the home if more than five years old. However, some things are neither easy nor cheap to fix. The electrical system, foundation, heating and cooling system, plumbing, and roof five areas you will want to investigate thoroughly before making an offer on any home.
