Top Home Inspection Defects Uncovered
Home inspections are a great source for uncovering property repair concerns and safety issues during the home buying process. At times, sellers even choose to have a pre-listing inspection performed to gain information regarding the items that may be of concern when they do decide to list their home for sale. According to the National Association of Realtors, more than 1 million repairs needed more than $11,000 in costs. This was the csase in a recent review of 50,000 home inspection reports by Repair Pricer, a home repair estimating resource.
Also noted in the report was the fact that nearly 55 percent of homes analyzed across the country had doors that needed adjusting, which could be an indicator of foundation issues. Obviously, this would be a worst-case scenario of why doors are out of alignment, but a concern nonetheless. More than half of the homes in the report lacked exterior caulking and sealant, this could definitely leave the home at risk of water damage or penetration. Furthermore, about 48 percent of homes lacked GFCI protection—this could pose a dangerous electrocution risk to homeowners around water-prone areas like the kitchen or bathroom.
As a homebuyer, your real estate professional should urge you to have a home inspection as soon as the purchase and Sales agreement is signed by all parties. This will allow ample time to review the inspection results and help to better position yourself in the negotiation process. In places like Rhode Island, for example, a buyer is only afforded 10 business days form the date the P&S agreement was signed to complete any home inspections. During this period, having knowledge and understanding regarding the cost of repairs that may be needed is critical to eliminate unnecessary stress and avoid an unsuccessful negotiaions.
According to the report, the most expensive home defects, that were uncovered in 9 to 20 percent of the homes studie, ranged in repair prices from slightly more than $1,000 to less than $10,000.
Below is a chart from Repair Pricer including the 10 most common home defects found in inspection reports:
*note that repair prices may vary depending on location, scope of work, condition and vendor.