How do you check that your new home has no underlying and costly problems? Here are some questions to ask before you bid so you can ensure there are no unexpected, expensive repairs
Imagine buying your dream home, moving in and discovering a major flaw, meaning you have to spend (another) chunk of money, just days after making the biggest purchase of your life.
From a broken boiler to a leaking pipe: unexpected costs are the last thing you will have to deal with when you settle into your new home.
Mortgage broker Mojo Mortgages has calculated the costs of some of the most common problems people encounter when buying a home.
Replacing a boiler can cost up to £4,500, while repairing a leaking pipe can set you back £300 or more in plumbing costs.
While knowing these things before you buy the house may not affect your decision to purchase the property, knowing them in advance can be a reason to negotiate the price. Or at least set aside some money from another area – moving, for example – to finance the repairs.
To help you understand what to look for when viewing homes, Mojo has come up with Mortgage simple questions that could save first-time buyers £20,676 in unexpected costs. Here are a few…
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How old is the boiler and when was it last serviced?
Boilers are typically responsible for around 60% of your heating costs. However, as they age, they become more susceptible to defects and malfunctions. So it’s important to ask this simple question before making an offer on a house.
On average, a boiler lasts between 10 and 15 years, depending on how well it is maintained. Therefore, if the boiler in the home you are considering buying is approaching this age, it may be wise to budget for replacement.
The average boiler can cost up to £4,500, making it a significant expense if overlooked during the buying process.
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Do your windows suffer from condensation?
Condensation on windows is often an indicator of larger underlying problems in the home that may require attention and investment to properly address.
While the condensation itself may seem like a minor problem, it can be a symptom of problems such as poor insulation, inadequate ventilation or excessive indoor moisture.
Ignoring these root causes and only superficially treating the condensation could lead to more serious and expensive problems down the line. For example, if the underlying problems are not resolved, the windows themselves may eventually need to be replaced, which can cost an average of $4,000.
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What furnishings will you leave behind?
It’s a good idea to check what items the seller leaves behind and when (if any). moving of the property. Although it may seem unlikely, some people are able to take things like the carpet or blinds with them when they move.
Replacing the carpet in an entire home can come with an average price tag of $2,200. Meanwhile, installing new sun blinds can cost an average of €1,100.
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Is the house moisture-proof?
Damp can not only damage brickwork, plaster and other materials, but can also compromise the structural integrity of a building, potentially causing the building to collapse.
If you encounter moisture problems after your move, the average cost for a moisture-proof course is approximately € 800.
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Is the water pressure strong?
For many people, strong water pressure is a non-negotiable feature when purchasing a home. However, in addition to personal preferences, adequate water pressure can also significantly improve daily tasks such as showering, laundry and dishwashing.
If you need to improve the water pressure in the future, this is probably due to: leaking pipe. This can incur an average repair cost of £370. That’s why it’s worth asking (and testing) the water pressure before you bid.