Buying a home in Bermuda – where we have a limited inventory and houses often sell quickly – it’s tempting to rush ahead with an offer without gathering all the facts.
But in a community where many houses were built before the introduction of modern building codes, is this a wise course of action, or does it expose buyers to potentially costly surprises down the line?
We sat down with Philip Mason, co-owner of Mason & Associates Ltd, to get the facts.
There are several ways of assessing what you’re buying:
- A home appraisal provides a monetary valuation of a property and is used by lenders to assess risk and to determine mortgage amounts. This appraisal is a required part of the mortgage approval process and banks usually have their own list of appraisers that they work with.
- A land survey is prepared by a licensed surveyor and confirms the precise physical location and measurement of a property’s boundaries, features and layout. It notes any encroachments or easements and is also a required part of the mortgage application process.
- A home inspection is a structural survey that focuses on the property’s physical condition. It is performed by a home inspector and assesses the structure and systems of the building and surrounding property to identify existing issues or potential risks that could impact safety, maintenance and long-term costs.
Mr Mason said: “The key advantage of a home inspection is that it includes a balanced view of the physical condition of all the aspects of a home that are not easy for the average buyer or seller to assess.
“In Bermuda, banks do not usually require a home inspection as part of the mortgage approval process, so most of the calls that I receive come from attorneys or real estate agents who are performing due diligence on behalf of their clients.”
From roof to tank
A comprehensive home inspection is designed to present a balanced view of every aspect of a Bermuda home and grounds. It can be particularly advantageous for the seller of an older or damaged property to have a report prepared before listing it for sale, so that they are prepared to answer questions regarding what issues might need to be addressed and what it would likely cost to make repairs.
“Buyers normally do not inspect the roof or take the time to property look inside the water tank,” Mr Mason said.
“They also frequently neglect to make inquiries regarding localised issues with cesspits and septic tanks.
“We inspect the property as if we were buying it ourselves and then generate a report that distinguishes between minor defects and major structural or safety issues.”
The team then prioritises the order in which the flagged items should be addressed and generates a Class D Estimate, detailing what it believes it would cost to bring the house up to a code-compliant safe state.
Mr Mason cautioned: “Given the high cost of renovations, if you are making a cash offer, or buying a history property, it’s worth taking the time to have a home inspection performed to ensure that you understand exactly what you are taking on.”
Pests and structural Issues
“Electrical wiring in Bermuda is often a big unknown and it takes more than looking at the electrical panel to get the full picture,” Mr Mason said.
“Wiring that is more that 30 to 40 years old often includes British wiring which no longer meets the minimum requirements of the code because the ground wire is too small. This could cause breakers to fail to trip in time resulting in overheating or even fire.”
Swimming pools can also hide problems, as the building code requires that all nearby metal parts be connected to a copper grounding wire to prevent stray electrical current from leaking into the water.
If not done correctly, this can create a serious shock or electrocution hazard for swimmers.
Termite damage is another common problem in Bermuda.
“Believe it or not, three-quarters of the houses that I inspect in Bermuda show evidence of termite damage in the roof,” he said.
“Even wolmanized lumber, which has been treated with chemicals to protect it from termites, fungus and decay, has a limited lifespan.”
What is not included in a home inspection?
Due to their specialised nature, Mason & Associates Ltd does not inspect air-conditioning systems, solar panel systems, gas lines or security systems, but they can arrange for specialists to review any existing infrastructure and include their findings in the report.
Preventative maintenance tips
- Ensure your roof is inspected twice a year (and after hurricanes) and fix any cracks immediately.
- Install wired or battery-operated smoke detectors throughout your home and a heat detector in the kitchen.
- Trim overhanging trees to prevent leaves entering your tank and inspect your tank regularly to check for cracks, leaks and sediment buildup.
- Clean or replace air conditioning filters regularly to prevent mold and mildew accumulation.
A thorough home inspection is not about discouraging the purchase or sale of property – it is about giving buyers and sellers the knowledge to make informed decisions. From identifying hidden wiring issues to assessing tanks, cesspits and roofs, a home inspection provides a balanced, professional view of a property’s true condition and can mean the difference between a secure investment and an expensive surprise.
- For more information contact Philip Mason at https://mason.bm/contact
