Hidden Costs of Owning a Home, Things We Don't Think of When We're Renting!

[@noogman]

I have never seen anyone sell their home without lying about the condition of the roof. Insurance companies aren't giving any deals on roof replacement these days. They're charging $2,500 deductible on top of your standard insurance deductible on hail or wind damage, even if the roof is brand new. They also are depreciating roofs at the 10 year age. Meaning, you'll be paying the lions share when you contact your insurance company. Purchasing a new to you home? Always insist on having the roof inspected by an independent contractor before entering into a contract with a seller. You can then tell the home owner to you want an allowance if any expected roof depreciation comes up. Especially if the roof is over ten years old.

[@RochStGeorges]

Hi Noogman. I agree one should always conduct a home inspection prior to buying a home either on the resale market or new built.