For first-time home buyers in Florida, finding what seems to be their dream home can be a very exciting experience. But, despite the exhilaration you’re feeling, you have to put your emotions on hold until you see the results of the home inspection that’s been done. Thus, what if, according to the home inspection report, that home turns out to be a money pit? Will you have the fortitude to walk away?
Although some issues may be an inexpensive fix that you can negotiate with the seller, others may not be and walking away from the sale may be your best option. So how can you tell when it’s time to walk away? The following issues of a home inspection will tell you that it’s best just to walk away and look at other properties:
- Electrical issues – you’ll have a very costly problem on your hands if there’s damage to the electrical system or its wiring. Just having to replace the electrical panel could cost you upwards of $1,500.
- The foundation – if one of the structural problems revealed in the home inspection report was the foundation, this is a major problem that can cost thousands or even tens of thousands of dollars to repair. Additionally, any weakness in the structure of the house can be detrimental to your investment.
- Roof problems – if it’s just a minor problem such as replacing a few shingles, this won’t be too expensive to repair. However, it’s best to call in a professional to do a thorough inspection of the roof to make sure. If the roof needs extensive repairs or replacement, that could be a deal-breaker.
- Termites – depending on the extent of the existing infestation, you could be looking at about $800 in termite treatments just to remove the pests. Unfortunately, they may have done considerable damage to the structure and you could easily be looking at thousands of dollars in repairs
- Water damage – this is another critical issue, especially if there is mold that can’t be seen. Although the seller may have corrected the water problem, he or she might not have checked for mold. Depending on the type of mold you’re up against, it could cost anywhere from $500 to over $6,000 for a mold remediation procedure.
- Work done without a permit – although many homeowners rely on a “friend” to do their home repairs cheap, finding out that major work has been done without the proper permits, is another good reason to just walk away.
Don’t take chances when you’re investing in your first home. It is best to call Florida Inspections Unlimited today for additional information at 954-861-0666. Get an evaluation done on the structural integrity of the house.