New home owners face paying thousands for unexpected damage

Almost half of those who bought a new home in the UK since the beginning of the year discovered unexpected damage after moving in and 29% thought the seller deliberately concealed problems with the property during the sale.

New home owners spend £4,205 on average fixing ‘hidden’ problems with their property with tactics sellers use include painting over mould, moving furniture to cover problems during viewings and hiding damage behind pictures.

And today’s buoyant property market is putting buyers under pressure to buy a home without checking it properly for damage, leaving many with hefty repair bills after moving in, according to home insurance firm LV=.

Its research has found that 49% have discovered damage or problems after moving in to their new home that was not disclosed by the previous owners. The most common issues include plumbing problems, such as blocked pipes, faulty electrics and damaged drains.

The problem has been exacerbated as the housing market has become more buoyant and buyers feel pressured to make an offer without thoroughly checking a property. Of those who bought a property this year, 20% said they were pressured to make a decision virtually immediately or they would risk losing the sale.

Indeed, thousands of buyers are now making an offer during the first viewing, with one in ten of those who bought a property since the start of the year made an offer straight away. This leaves little time for checking a property for defects and 39% said they did not have time to check the property thoroughly before making an offer.

As well as having to pay out for expensive repairs, many new buyers find they often have to replace items they thought were included in the purchase price. One in 10 buyers who bought this year said their seller took items from their new property which they thought were part of the sale, and a further 6% said that their new home had been completely stripped bare.

Items taken by sellers over the past five years include curtains and blinds, light bulbs, integrated appliances such as dishwashers, carpets, doorknobs and even toilet seats.

Many Brits mistakenly believe that it is the seller’s responsibility to disclose any problems with a property upfront but it is in fact the buyer’s responsibility to investigate the condition of a property before buying it. Any damage that occurs after a sale may be covered by home insurance but this is dependent on when the damage occurred.

‘Buying a home is a huge investment and yet many buyers now feel pressured to rush into a sale without checking a property thoroughly,’ said Selwyn Fernandes, managing director of LV= home insurance.

‘Serious faults are difficult to identify and can be very costly to put right. It is worth getting the professionals in to survey the condition of a property before exchanging contracts to make sure you are fully aware of any issues with the property,’ he pointed out.

‘Home insurance will not cover you for damage that occurred before the sale but it may cover you for problems that happen afterwards, such as water damage resulting from faulty pipework,’ he added.