The purpose of a home inspection is to detect visible defects and help the buyer make an informed decision.
Did you know that some visible defects can require very costly interventions?
Water infiltration through foundations or concrete slabs. Restoration of the waterproof membrane and replacement of the foundation drain for a single-family home can cost between $30,000 and $40,000. If you decide to install an interior drainage system, the cost is about +/- $200 per linear foot, but you will need to remove interior finishes in finished basements.
Galvanized steel water distribution pipes. Steel pipes rust and become clogged over time and pose a high risk of leaks and water damage. Some insurance companies will not cover water damage from plumbing if the pipes are made of steel. Replacing outdated pipes can cost between $10,000 and $15,000.
Concrete slab heaving due to pyrite. A slab lifted by pyrite cannot be repaired. The only way to remedy the problem is to replace the slab and the contaminated backfill underneath. The cost - at least $20,000.
Bowing of exterior walls (bulging bricks). In general, brick wall bowing is caused by deficient anchoring behind the masonry. To redo your walls, a master mason may charge between $25,000 and $50,000.
Vermiculite insulation in the attic. Vermiculite was used as insulation for unfinished attics in the 1950s-70s. In most cases, vermiculite contains asbestos and can be carcinogenic. Cleaning and decontaminating your attic will cost approximately $20,000.
Roof covering at the end of its useful life. Don't wait for the roof to leak before replacing it. Water in the attic can damage insulation and promote mold growth. Replacing asphalt shingles will cost between $10,000 and $30,000 or more depending on the quality of materials and roof configuration. The replacement of a flat roof covering (asphalt and gravel, TPO, elastomeric) costs about $10 to $15 per square foot.
Aluminum wiring and electrical panels. Many buildings constructed in the 1970s contain aluminum wiring. Insurance companies have become very sensitive about the presence of aluminum wiring in electrical systems. Electrical panels from certain brands are also not favored by insurers. To have an electrician secure aluminum wiring connections (required by insurers), you will need to pay approximately $50 per connection point (outlet, switch, etc.). Replacing a 200A electrical panel may cost you $5,000.