Photo: There are still many surviving cottages in West Vancouver. Here is a detail of the soffit (horizontal roof overhang). Modern soffits include openings for roof ventilation. In this case there is none. Any modifications to this soffit will be costly.
Countless buyers repeat the same mistake, to their detriment. Too often we see clients who book the inspection within a day or two of the ‘subjects removal’ date, leaving no time to gather cost information.
The inspection report will identify major issues that need to be addressed. By regulations, inspectors are not allowed to provide clients with repair or replacement cost estimates. That means it’s up to the buyer to get quotes for the work.
Buyers are wise enough to include a ‘subject to a home inspection’ in their purchasing agreement. However the #1 mistake is not to allow for at least 5 to 10 business days after the inspection and before the ‘subjects removal’ date… to get quotes for the issues identified in the report.
We cannot stress enough that if the roof or heating system or deck needs to be replaced in 3 to 5 years, you need to have a good idea what it will cost so you can budget for it.
Even more so, if a civil or structural issue, such as a wet crawlspace or damaged foundation, is identified. it will take time to find the right expert to evaluate and recommend a course of action.
You’ve paid for the inspection report. Now follow-up with due dilligence to find out how much the property will cost you in future repair and replacement costs. Once you have those numbers, you can now ask yourself … “Is it still the right property for me?”.