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General information only — not legal, tax, financial, or real-estate advice. Verify with a licensed BC professional before acting.
Deferred maintenance refers to repairs, replacements or upkeep tasks that have been postponed beyond their recommended service intervals. In residential real estate, deferred maintenance commonly includes items such as roofing near end of life, aging hot-water tanks, worn exterior paint, deferred window replacements, and untreated moisture or drainage issues. Deferred maintenance affects both a home's market value and lender/insurer assessments. Home inspectors typically identify deferred maintenance in their reports. Consumers considering a purchase commonly research the cost and timeline to address deferred items during subject-removal. Whether a specific repair is required for lending or insurance in your situation is a matter for those professionals.
Frequently Asked Questions
How does deferred maintenance affect home value?
Buyers commonly adjust their offers to account for major deferred items. Some deferred items also affect a lender's willingness to finance or an insurer's willingness to bind coverage — verify with your mortgage broker and insurance broker.
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