Case-Shiller Home Price Growth Ticks Upward in November Reading Home prices increased in November, with national home prices up 0.70 percent month-to-month and 6.20 percent higher year-over year.
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Even a house that seems perfect may not be so when it comes to a home inspection, which is meant to discover potential problems with the home's systems, appliances, and structure.
"Depending on the age, location, and type of house, the potential for problems will vary," according to an article by the Ferris Property Group. "It's also important to note that all houses — even brand new ones — will have issues show up on the inspection. Certain issues may be a deal breaker, like a collapsing foundation, but many other issues can and should be repaired after negotiation with the seller."
Here are some of the most common problems inspectors say they uncover:
Defective plumbing: Leaky faucets or problems with the efficiency of pipes can greatly affect the cost of a home's utilities.
Water damage: This can be caused by any number of issues, such as erosion of external grading material that has caused a slow leak into a basement. Water leaks also can lead to damage in a foundation or mold growth.
Faulty roofing materials: Variable temperatures can cause cracks in some roofing materials, while other materials may be prone to rots or leaks.
Cracked foundation: Foundation problems can surface from any number of issues, such as water damage, termites, rotting, or structural inadequacy.
Over-worked electricity system: This also can represent a big safety issue. Inspectors say when they find an overcrowded wiring system it’s typically due to previous owners making adjustments to the electrical wiring.
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