Buying a home in today’s market can be stressful. When you finally fine ‘the one’ it is hard to think about letting it go when a deal breaker is found. With the right team by your side, you will be able to troubleshoot these common deal breakers and make the best decision for you.
Old Roof
Well-maintained roofs can last for 30 years or more. When looking at homes, look up to see the condition of the roof. Look for indicators such as how many layers of shingles are present, missing shingles or sagging roof lines. Ask the home owner when the roof was last replaced. Your home inspector will also give you thoughts on the condition of the roof. If the home you are looking at needs a new roof it could cost $10,000-$30,000.
| Before You Walk Away: Work with your agent to negotiate with the sellers. Would they be willing to split the cost or put in a claim on their insurance if they have hail damage? An old roof is a concern, but it doesn't have to be a deal breaker with creative negotiation and budgeting. |
Outdated Electrical
Older homes don’t always have updated electrical systems. Knob and tube or aluminum wiring can be a fire hazard and expensive to replace. Often, buyers don’t find older wiring until they open up a wall during a remodel. Rewiring a whole house can be quite pricy. If you are made aware of outdated electrical before you buy you have an opportunity to make a deal work when others might walk away.
| Before You Walk Away: Use your findings as a negotiating tool to get the price reduced or closing costs covered. Work with your agent to determine the best way to move forward without breaking the deal. Consult with a certified electrician to determine the most pressing repairs and those that can wait. |
Plumbing Problems
During your inspection, your inspector will look at the indoor plumbing and functionality, but won’t usually look at sewer pipes. Ask your agent to arrange a filming of the pipes leading from the house to the street to check for cracks or tree roots growing through the pipe. If you find major plumbing issues during your regular inspection or during a sewer line filming, take some time to assess the costs before you walk.
| Before You Walk Away: Just like many of the deal breakers on our list, plumbing issues can be a great tool for negotiation to get the price reduced, closing costs covered, etc. If plumbing issues are found, work with a plumber to assess the cost and time of repairs. Sewer line repairs can be the most costly, but they can sometimes be corrected with regular cleanouts. |
Shoddy Remodels
Sometimes sellers do some quick upgrades without a professional or permits to help their home sell. When walking through homes with your agent, looks past the gloss and shine to the real details of recent remodels. If the workmanship looks shoddy but correctable and you love the home, talk to your agent about your options before you walk.
| Before You Walk Away: Ask your agent to help you pull permit records for the home to see if any of the remodels are on file with the city. Bring in a trusted contractor to look at the work and give you a bid to correct it. Use the information you gather as a tool to negotiate with the sellers. If the work is just too costly or the sellers won’t budge, it may be time to go back on the hunt. |
Flood Zone
Homes near a river or stream aren’t always in a flood zone and homes a ways from a river or stream aren’t always out of a flood zone. It’s a good idea to check a home’s address is the FEMA Map Database to see if it lies in a flood zone. If it does lie in a flood zone, it doesn’t mean it’s a deal breaker.
| Before You Walk Away: Check with your insurance company about the cost of flood insurance for the home you are interested. Talk to locals to see how often the area truly floods and if your home is one usually affected. Your agent will advise you on how to proceed with the purchase as well if you decided to forge ahead. |
Some buyers see deal breakers as a reason to walk while others look for creative ways to keep the deal together and get the home of their dreams. Working with a trusted team makes the home buying process much easier as you know they are giving you sound advice. Before walking from any deal, talk to your team to determine what is right for you. Sometimes the deal may be truly broken and other times you may have found an opportunity others would have passed by.