Buying a new home can be an exciting time in any person’s life. However, it is important that potential and repeat homebuyers be aware of the problems that can arise when purchasing an older house and land packages perth. When people buy older homes, they often have to replace old products that have worn out or repair damage that has occurred over the years. Some of these home renovation projects can be much more costly than others. If you are in the market to buy a new home, review these seven potential problems that can make you go way over budget on your new home.
Foundation Problems
Major structural problems can be one of the costliest repair projects homeowners have to embark upon. Depending on the extent of structural compromise, it could cost anywhere from a few thousands dollars to $30,000 to repair foundation problems in an average sized home.
Be sure to be on the lookout for foundation problems when looking at homes. Cracks in driveways, the foundation, floor, and load-bearing walls could be signs of trouble. The savviest home buyers will also bring a four foot bubble level to houses they are interested in purchasing; this tool allows you to make sure that floors are level and walls are vertical.
Old Windows
Many homebuyers do not want to buy an older home unless a previous owner of the property has replaced all or most of the windows with newer models. Old windows are far less energy-efficient, more prone to breakage, and less attractive than new windows. However, the cost of replacing all of the windows in an average sized home will typically run anywhere from $13,000 to $20,000, depending on the quality of the window products and whether the window frames need to be repaired.
Leaky Roof
A leaky roof is a sign of a couple of problems. First, if you have a leaky roof, you probably have an old roof that will need to be replaced. The cost of replacing the roof in a normal sized home will generally cost about $6,000 to $10,000 for composite shingle roofs. The cost can increase substantially if the homeowner wants a Spanish tile or clay roof.
Mold
Another problem that can be caused by a leaky roof is the development of mold. Mold can also develop in bathrooms or laundry room areas due to water leaks. In some cases, the presence of mold is not a major problem and the homeowner can remove mold using bleach and a washcloth or by replacing sheetrock in some areas. In other cases, the homeowner owner may need to gut an entire bathroom or another area of the house to remove water damage and mold that has affected sheetrock and other building materials. In minor cases, mold clean up may only cost a few hundred dollars. In the worst-case scenario, the homeowner may need to redo an entire bathroom, which can cost at least $5,000 to $8,000.
Termite Damage
A minor termite presence at a property is usually not a big deal. In fact, in certain areas of the country, all properties have some amount of subterranean termites. However, a major termite problem could cause serious damage to buildings. When you are looking at new homes, be on the lookout for termite droppings, termite trails, live termites, crumbling wood, or buckling paint. You can also look out for debris in the home and yard, such as cardboard, paper, and other cellulose material, as well as signs of water damage. Termites feed on cellulose debris and thrive in damper locations. The cost of termite repair can be expensive. The cost of fumigating a house for drywood termites costs about $1,800, spraying for subterranean termites costs about $1,000, and repairing or replacing damaged wood could cost anywhere from a couple of hundred dollars to a few thousand dollars
Unpermitted Structures
Unpermitted structures such as closed-in patios, sheds, converted garages, or extra rooms can add an additional cost to the price of a home if the city requires you to get it permitted or tear it down. In order to get the structure permitted, the city will send an inspection company to the home to evaluate the build and determine if the structure was built to code. If it wasn’t, the homeowner will have to pay to get the structure up to code, in addition to paying for the permit. If the homeowner elects to tear the structure down, he or she will have to pay for the cost of demolition and building scraps removal.
Cabinets
Nice kitchen cabinets are not a necessity, but they can significantly improve the appearance of your home. If you look at an older home that has cabinets with little potential, you may want to keep looking. Kitchen cabinets cost at least $3,500, on the low-end, plus the cost of installation, which typically costs about $1,000 to $1,500. Many homeowners end up paying at least $8,000 to $10,000 on new kitchen cabinets. If you purchase a home that has cabinets that you like, or that can be resurfaced and re-stained or painted, you can save yourself a few thousand dollars worth of remodeling costs.