We are happily settled settling into our new house; many boxes are unpacked, we’ve been able to conquer some of the work required to make it a comfortable living space, and I’ve just been able to start sleeping better in our new bedroom (I have a hard time sleeping in new places).
However, despite our contentment with our home and our decision, I’m still traumatized from the horrifying process that is house hunting. It’s not a fun ordeal, especially when you are looking at older homes. It was all about inspections, disappointment, and emotional upheaval during those couple of house-hunting months.
One thing that we were surprised about when it came to buying a home, was how many inspections, tests, and evaluations are necessary in order to ensure that the potential home is running well and that there aren’t any major issues.
Here’s what we had to go through:
Home Inspection
I’m a firm believer of having a home inspection regardless of the age of the home. Being that J is a carpenter, I frequently hear about housing nightmares and about the shoddy work that some companies do when building even brand new houses.
A home inspection costs between $400-$600 (depending on your region, the age and size of the home, and whether it’s a condo, house, or townhome).
An inspection will reveal most of the little problems in the home, as long as you select a reputable inspector.
This will also tell you about the materials used for electrical and plumbing systems, the age of the roof and time of last upgrade, the estimated remaining years of usage for different systems such as furnaces and water heater, and any number of things that you didn’t know that you wanted to know about a house. I spoke with a plumber in Los Angeles a while back and you would be amazed at the horror stories he told me about several clients getting screwed over when it came to buying a new house.
Oil Tank Inspection
Decades ago, many homes were heated by oil, and as a result, many houses had an oil tank either underground or on the side of their homes.
Oil is no longer used and many homes switched to heating methods such as natural gas and wood burning stoves. Instead of properly removing the oil tanks, many home owners simply buried the tanks and left them there.
The problem is that the tank itself erodes over time, which may result in a damaging oil spill on your property.
Oil tanks buried on a property are relatively rare but it is always a good idea to have your property inspected for one. This is usually done with a metal detector. The presence of an oil tank on a property can render that property un-insurable. It can cost anywhere from $2,000-$5,000 to remove an oil tank.
WETT Test
Wood burning fire places are a sure way to reduce home heating costs, especially if you have somewhere from which to get free wood.
With wood burning fireplaces come issues such as dirty chimneys, potential chimney fires, and the possibility of inefficiencies.
Having a WETT test (Wood Energy Technology Transfer) will ensure a wood burning fireplace and chimney is up-to-snuff and ready to go for the winter months.
Asbestos Test
This particular test was very overwhelming. We did this before we signed the subject removal papers and after the inspection because asbestos is extremely harmful when disturbed in a house, very common in older homes and the home that we bought had been renovated so likely, the insulation in the attic was “disturbed”.
Somebody in a hazmat suit comes into the home, takes a couple of cups of the insulation in the questionable area, and takes it back to a lab for testing. They send you the test results a few days later as to whether or not the insulation tests positive for asbestos (and the ratio of asbestos in the sample).
This test was $300 and well worth it.
We avoided the possibility of losing a loved one and avoiding an asbestos lawsuit that would be time consuming and heartbreaking.
Our home tested positive, and we negotiated for the sellers to lower their price so we could remove it.
These are the four inspections that we had to deal with when we bought our home. I think we made the right choice when we ordered all of these inspections, and if you are looking at an older home, I’d recommend you do the same.
Dang..that’s a lot of work! Good to know! 🙂
Yes – so glad you made the point about having an inspection, even on a brand new home. It’s surprising what little things (or big things) can be missed.
It’s also great if you can get an inspector who takes digital thermal images of the house. You may find things like big drafts, or a spot where a bat of insulation was missed (true story, new build!).
Definitely do a radon test also! Our house actually failed it and we worked it into the contract that the seller would pay for the machine that eliminates it.
We had to do this since we had a basement and radon is worse the futher underground you go. We passed, but it is totally worth doing and very simple!
Having an inspection done on any house is important, but doing one on an older house is much more crucial. My biggest worries about old houses are poor wiring if it hasn’t been redone, dangerous furnace and asbestos.
Ugh, the inspection process can be one of the worst parts. It is always so nerve racking, but it is very important. We actually pulled an offer after an inspection once. They had done some remodeling and our inspector believed that the house was sagging. Bad news, but I’m glad that we did the inspection.
We have different ones in our region, but just as many:
home inspection
wind mitigation inspection/certification
septic inspection
chinese drywall inspection
mold inspection
They all add up to headaches and serious bucks. But it’s worth it in the end =)
You can’t underestimate the necessity of these inspections! I’m always floored when I see those people on HGTV who bought a house without any due diligence–no wonder they end up begging Mike Holmes to “make it right!”
Wow, sounds like a big hassle that you have to go through or be badly surprised! Having a house built has its own hassles, so apparently it’s a wash. We had 4 inspections too, but three of them were just general home building inspections by an inspector that we hired that covered different points of the build. Like right before the foundation was poured, before insulation was put in, and when they were done. Then the appraiser did his thing…
A passed WETT inspection is really important when it comes to insuring your home as well. If the house isn’t serviced by municipal services, you might also want to have someone look at the condition of the well and septic tank.
I am sure inspections on older homes can be a potential headache with all the possibilities that could arise. We had to get a radon test as well as radon is fairly high in our area. Thankfully we passed the test and did not have to spend money to buy the mitigation system.
Looks like you’ve done a good job of doing your due diligence. I find that home inspectors are a hit and miss in how experienced they are and what they check. I have gone through at least 7 inspections when buying my rental properties and am still looking for a great thorough inspector.
I’ve also had a real estate selling agent lie about a house not having asbestos when they clearly had the house tested for asbestos which came back with positive results! Had I know it had asbestos, I would not have needed to get myself and my inspector exposed during the inspection.
You should write a post about the hidden costs of home ownership. I imagine that these inspections weren’t the only additional cost
Haha, I don’t know how hidden inspection costs are. We were anticipating them before they happened. So far so good as far as unanticipated costs, but we’ve only been in the house for a few weeks.
I would also suggest testing your well water if you aren’t on city water. We (and our neighbours) have had a terrible time with contaminated drinking water in the past few years, and the cost to fix it can be in the thousands.
Those are really a lot of hardwork. But I guess you still saved a lot from buying an older home.