Imagine buying your dream home, moving in and discovering a major flaw which means you must fork out (yet another) big chunk of money just days after making the biggest purchase of your life.
From a broken boiler to a leaky pipe – an unexpected cost is the last thing you will need when you are settling into your new home.
Mortgage broker, Mojo Mortgages, has calculated the cost of some of the most common problems people encounter when buying a home.
A boiler can cost up to £4,500 to replace, whilst fixing a leaking pipe could set you back £300 or more in plumbing fees.
Whilst knowing these things before you buy the house may not impact your decision to purchase the property, knowing in advance could give you grounds to negotiate on price. Or, at the very least, put some money aside from another area – removals, for example – to fund the repairs.
To help you understand what you should be looking out for when viewing homes, Mojo Mortgage has come up with simple questions that can 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 typically account for around 60% of your heating bills. However, they become more prone to breakdowns and malfunctions as they age, 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’s maintained. Therefore, if the boiler in the house you’re considering buying is nearing this age, it may be wise to budget for a replacement.
The average boiler could 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 issues 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 like poor insulation, inadequate ventilation, or excessive indoor moisture.
Ignoring these root causes and only treating the condensation superficially could lead to more serious and costly problems down the line. For example, if the underlying issues 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 fixtures and fittings are you leaving?
It’s a good idea to check what items the seller is leaving – if any – when moving from the property. Whilst it might seem unlikely, some people may take things like the carpet or blinds with them when they move.
Replacing the carpet in an entire house can come with an average price tag of £2,200. Meanwhile, putting in place new blinds can cost an average of £1,100.
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Is the house damp-proofed?
Not only can dampness damage brickwork, plaster and other materials, but it can havoc on the structural integrity of a building, potentially causing a collapse of the building.
Should you find damp-related issues once you move in, the average cost of a damp-proof course is around £800.
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Is the water pressure powerful?
For many people, strong water pressure is a non-negotiable feature when buying a property. However, beyond personal preferences, adequate water pressure can significantly improve daily tasks such as showering, laundry and washing dishes.
Should you need to improve the water pressure in the future, it’s likely to be linked to a leaky pipe. This can incur an average repair cost of £370, which is why it’s worth asking (and testing) out the water pressure before making an offer.
