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Real Estate
Reply to "Isn't trading up going to end as folks are priced out?"
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[quote=Anonymous][quote=Anonymous]PP, you can get insurance for those pipes for next to nothing. Not a reason not to buy a starter home. Someone has to live in them! [/quote] PP makes a good point though. We bought one of those "starter homes" with very old pipes (along with most everything ese that we are slowly trying to fix up. At some point the pipes will fail and it will involve tearing up a basement floor with asbestos tiles or replacing the line outside from the house to the street. Each of these can potentially cost $10-20K or more, and home insurance won't cover it. You can get separate coverage for the outside line, and a rider on your home insurance policy in case of a pipe failure or sewage back-up, but from what I hear these companies always are looking for ways to screw you over. Definitely recommend a sewer scope as part of the home inspection. [/quote]
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