So what are the most common items that inspectors flag in their reports AND more importantly what do those repairs cost? This is a question that comes up on just about every home purchase but it's not a question that is easy to answer, at least not until now.
In short its electrical, plumbing and a handful of common roofing issues. Most of the items we see you can put into a few buckets, DIY that maybe should have been done by a professional, deferred maintenance or problems created by not fixing something when it first became an issue and lastly a lot of safety items that may have been fine at the time of construction but recommend changes get suggested for safety improvements.
Let's break it down a little more however. Electrical is often junction boxes that are mis-wired, loose, have broken covers, or are not properly working. All of which are relatively simple fixes and generally competed for around $50-75 or less for each one.
Another common item in the electrical section of a report is tied to the GFCIs in a home. If the home is older it may not have GFCI is places within 6 feet water. In even older homes they may not have the ground wire at all this the older outlets you see with 2 prongs versus the more modern 3 prong receptacles. The cost to just install a GFCI switch can be completed for less than $75 however running all new electrical can run anywhere between $8000 and $15000 depending on the size of the property.
We also see a lot of situations where the homeowner has used an extension cord where running a new line would be more appropriate. These is often found in garages or on the exterior for one reason or another. The fix really depends on the complexity and whether or not a new line can be run from an existing receptacle or if new line needs to be run from the main electrical panel. These variables can make the cost of this as low as $250 and its commonly between $250 and $350.
Lastly, I recommend checking all the lights in your home and replacing any burnt out bulbs prior to listing but certainly before the inspection, even the hard to reach ones on that vaulted ceiling. If we don't know that it works, it will likely be called out on the report and can be one less thing to deal with during the transaction.
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