Home inspection deal breakers will vary, largely based on the person buying a home. Buyers searching for a “turn-key” ready home may back out due to minor cosmetic issues or a roof that will need replacing in the near future.
On the other hand, a buyer with a high-risk tolerance or who is looking for a “fixer-upper” may not shy away from serious issues such as structural flaws, a cracked foundation, and other such problems.
However, there are a few home inspection findings that are consistent deal breakers. Most buyers back out of a transaction when the following are present:
- Has multiple serious code violations (an unapproved addition, for example)
- Lead or asbestos of any kind
- Knob-and-tube wiring
- Black mold
- Termites that have damaged structural components
- A compromised foundation
- A seriously damaged roof
Again, this is very dependent on the buyer’s mentality. If the buyer is agreeable, it is possible for the seller to negotiate a reduced price based on the costs of needed repairs or to perform them on their own, prior to the home being sold.
Purchasing a home is a huge decision, so take your time and think about your own personal preferences, and determine what your home inspection deal-breaker is.
