Would this put you off buying a house?

welsh_lad

I am buying a house which needs specialist building insurance due to a crack on the property. The survey said it was caused by past movement well over 10 years ago but it is not a problem now and a structural survey was not required. My only worry is that when I come to sell the house in 5 - 10 years will it put people off buying the house because it can not be insured with a high street insurance company? (The house is in a very sought after area.) Thanks

david29dpo

I think most future buyers will be put off, yes.

slbhill

It would scare me off if I were looking at a house with that kind of problem - unless you can fix it??

Have you found out what the specialist insurance would cost? Things like this aren't generally mentioned in the particulars so potential buyers would only find out when they viewed, or even when they got the survey done. Either way that gives you the opportunity to tell them about it up front and tell them how much extra (if any) it costs you in insurance.

welsh_lad

It is fixed. The survey said it is not a problem as it was repaired years ago. We just had to mention on the insurance form that the house had a crack in the past. Because of that the insurance company said no! The crack did not really bother us we just thought the fact specialist insurance is required it may put people off in the future (although the specialist insurance quote was almost the same price as the non specialist quote!!)