Some of my clients ask me about what they should do when a home inspection turns up many issues. It boils down to many different factors when buying a home and having the lakefront home inspection down. Lakefront home inspections can be tricky business for several reasons. One is the age of the homes. Many waterfront houses in Oakland County Michigan are older homes built between the 1920’s and 1950’s. Homes that were built before today’s tougher building codes. Some lake properties in Oakland County have been added onto multiple times with no real thought to the way it should be done. Sometimes these homes were added onto the easiest way they could be without redoing some of the existing plumbing, heating or cooling, or wiring.
Remember it is all about your comfort level on what the home inspector has found. It is not me that is going to live in the house and I am not the type of realtor to try to influence the home inspection just to sell a house. I want you to be happy in the home for years to come and if the home is a money pit then you are not going to be happy with the home. So what are your options, and what should you do?
Some Oakland County lake home buyers wonder when to give up on a home after a home inspection that turns up many issues. As a realtor with 17 years of experience let me tell you that I have seen things you would never believe. I have seen a floor of a lake house held up by an old tree stump when a home inspection occurred. A home inspector turned up issues on a foundation that was braced by poles that was hidden behind a finished wall.
bowed basement walls
The issues I feel are concerning are
- Health & safety
- Costly repairs
Lots of mold here
The first two Health & Safety & environmental may overlap. For example mold can be health and safety for a person that has major asthma or breathing problems in addition to being an environmental issue for the buyer. Most mold can be fixed or remediated so the average person can live in the house without future health issues or mold problems. However if you cannot solve why the mold is growing or there is a possibility that there may be more mold behind walls or areas you cannot see then it is a major issue. It may be a home that you run from.
Remember sometimes lake homes have been built on soft ground. So every once in a while you will have sinking foundations. Years ago they didn’t do wide footing, or pilings. There are homes out there where the home is sinking in a corner. I also believe major structural issues like bowing basement walls, or basement walls that have had major fixes that will influence or worry future home buyers may be a home that you want to pass one. Sloping floors are quite common in older homes, however if there are sloping floors, along with major drywall cracks or outside brick cracks in the same area it may be showing that there are foundation issues of the home sinking a little. I feel sometimes it is best to err on the side of caution.
Lastly costly repairs are determined by the buyer. How much can you afford to assume if the seller reduces the price? Let’s put it this way….a young home buyer that is just starting out may not have the money to do the costly repair where as an older couple that is financially set may be able to tackle the major repair. My word of warning is to be sure to understand the potential costs before you sign an inspection addendum.
Measuring the steps
I tell my clients it is not me that is buying the house. You the buyer has to feel comfortable with the issue before you move forward. There are so many different types of issues that could come up in a home inspection that could de-rail the purchase. The key is to investigate the solutions, the costs and then make a decision.