The rule of thumb
Almost nothing is an automatic dealbreaker. The real question is always the same three parts: what will it cost to fix, can you still insure the home, and is anyone unsafe in the meantime? Answer those and a flag becomes a number you negotiate, or, occasionally, a reason to move on. See the full map in red flags in a listing. Heard something odd at the showing? House noises that shouldn't be ignored tells you which sounds are money.
Usually negotiable (get a quote, adjust the offer)
- Is poly-B plumbing a dealbreaker? A repipe is a known number; the catch is insurance.
- Is a foundation crack a dealbreaker? Most cracks are minor; a few are not.
- Is radon a dealbreaker? A high reading is a cheap, routine fix.
- Is aluminum wiring a dealbreaker? Usually a low cost connection fix.
Depends. Confirm insurability first
- Is knob-and-tube wiring a dealbreaker? Insurable, but often only through specialty carriers.
- Is an oil tank a dealbreaker? Manageable when clean and documented; a leak is the risk.
- Is Kitec plumbing a dealbreaker? You cannot rely on the old class action anymore.
Each of these can affect whether you can insure, and therefore finance, the home. See homes insurers won't cover in Canada.
How to turn a flag into a negotiation
The move is the same every time: confirm the issue with the right licensed pro, get a written quote, confirm insurability with your broker, and use the number in your offer, as a price reduction, a seller repair, or a condition you can walk on. Budget with the repair cost guide.