5 most expensive repairs & how to avoid them when buying your new home

Buying a house is a significant investment, and it’s essential to ensure that your new home is in good condition. One way to protect yourself from unexpected expenses is to get a comprehensive home buyers report, especially focusing on gas and electric installations. This report can uncover potential faults that might not be visible during a regular home inspection. Here, we’ll explore the five most expensive home repairs and why investing in a home buyers report for the gas and electric installations is crucial.

1. Electrical Issues: Starting off as one of the most expensive re-fits is having all of the electrical installations checked on the property. The average cost to re-wire a 3-bedroom house comes in at around £4,450 – £8000 which is a big cost to consider when buying a property. Knowing what you are dealing with from the start allows you to effectively budget and, in some cases, negotiate a better deal. Faulty wiring, outdated electrical components, or inadequate wiring can pose significant safety risks and be costly to fix. A home buyers report for the electric installation can identify these issues, helping you avoid potential fire hazards and ensuring that your home’s electrical installation meets current standards.

2. Gas Boiler: When you are buying your new property, you want a fully functioning boiler that heats the house, is safe and runs economically. Buying a new boiler is another costly expense, the Home Service Report will identify any inadequacies with the boiler and make helpful recommendations on how to overcome any costly issues.

3. Heating Installation: So, you have checked the boiler, but the heating system is also an important component of delivering a warm, cosy house. The Home Service Report will inspect the pipework and radiator functionality to make sure you have a fully operational system, with no leaks or corrosion.

4. Plumbing Installation: The cost of re-plumbing a property is at the top of our list, with average cost starting at £10,000 and upwards. Undetected plumbing issues can result in a host of problems, from water damage to mould growth and high-water bills. A home buyers report can assess the condition of the plumbing system, identifying potential leaks, blockages, or damaged pipes. Fixing plumbing issues can be a significant expense, and catching them before you buy can save you from unexpected costs.

5. Gas Inspection (CP12): Safety is the priority with this part of your Home Services Report. A CP12 Gas Inspection ensures you of a safe working gas installation, it will check that all gas appliances within the property have been installed safely, allowing peace of mind for you and your family.

Heating systems that are outdated or inefficient can lead to high utility bills and costly repairs. A home buyers report can assess the condition and efficiency of these systems, helping you understand if they need upgrades or replacements. Ensuring that your heating system is in good working order can save you money in the long run by reducing energy costs and preventing the need for extensive repairs.

Now that we’ve discovered the five most expensive faults in a house, it’s clear why obtaining a home buyers report for gas and electric systems is so important. These reports go beyond the standard home inspection, providing a more detailed analysis of critical systems that can be expensive to repair or replace.

Here are some reasons why investing in these reports is a wise choice:

Peace of Mind: Knowing the condition of your home’s gas and electric systems can provide peace of mind. You’ll have a clear understanding of any potential issues and can plan for necessary repairs or upgrades.

Negotiating Power: If the home buyers report uncovers significant faults, you can use this information to negotiate with the seller. You may be able to negotiate a lower sale price or request that the seller address the issues before the sale is finalised.

Long-Term Savings: By identifying and addressing faults early, you can save money in the long run. Preventing costly repairs or replacements down the road can help you budget more effectively for homeownership.

In conclusion, buying a home is a substantial financial commitment, and you want to make sure that your investment is sound. Getting a home buyers report that includes a thorough inspection of gas, electrical plumbing and heating systems is a smart move. It can help you avoid the most expensive home repairs and ensure that your new home is safe and in good condition. Don’t skip this crucial step in the home-buying process – it’s an investment in your future peace of mind and financial well-being.