Statistically speaking, over forty percent of pre-owned homes on the Orlando Real Estate market today have had at least one serious issue or defect at one time or another.
With the exception of brand new homes, just about any home you walk through will need some kind of repair no matter how minor it may be, you can always find something that needs attention. These kinds of minor repairs and maintenance upkeep are completely normal and should be expected.
However, when buying a home, especially one that you’re planning to live in, you want to make absolutely sure that you’re aware of any major problems that exist and what it will take to fix them.
From our experience in buying and selling thousands of Orlando Homes over the years, here’s a list of the most serious home defects to watch out for.
1-Central AC- Sometimes a Central AC unit could be working fine, yet on its way out very shortly. It’s important to have the home inspector pay close attention to all the components of the system, especially if the unit is over 5 years old. A new central AC can cost you between 4 and 6 thousand dollars depending on the size of the unit.
2-Environmental Hazards- Older homes should be inspected for asbestos, lead paint, radon, and water system contamination.
3-Hidden Roof Damage- Although the roof may not be leaking, it needs to be thoroughly inspected both on the exterior as well as from inside the attic. Roofs are only expected to last around fifteen years so find try to find out how old the roof is on the home.
4-Insect infestation- check especially for termite and carpenter ant damage. Find out if the home is already being serviced for pests.
5-Outdated Electrical- Rewiring a home’s electrical system can be very expensive. It is very common for older homes to have these issues.
6-Plumbing- Like the electrical system, upgrading the plumbing system in a house can cost you big bucks.
It’s important that you know what you’re getting into because anything can be fixed but at what cost? You could easily rip through a thirty thousand dollar budget in no time at all fixing some of the things mentioned above.
That’s why it’s extremely important that the Orlando Realtor that is representing you makes sure that the contract gives you ample time to complete your home inspections. If there is an issue, you’ll easily be able to back out of the contract and get your deposit refunded.
Use The Repairs To Negotiate The Price.
If the home inspection reveals that there are indeed some major issues, then you can use this to negotiate the price. That is if you’re still interested in proceeding with the sale. If so, the best thing to do at this point is to get estimates on the repairs. You can then use these estimates to negotiate the sales price.
A home inspection costs around $250 to $400 and is well worth every penny. The Orlando real estate agent that you hired should be able to recommend one to you.
Make sure to be present when the inspection occurs so that you can ask questions about the different systems in the home. It’s also a good idea to ask the inspector what to expect down the road and how to maintain certain items that you are unsure of.
