• Structural issues and flaws in a building rank among the most prevalent problems encountered today. These arise from neglect during construction, inadequate building practices, or substandard structural design. Chipped plastered walls, water leakage, cracks, and dents in walls or flooring are a few common and visible issues that can significantly diminish the livability and value of the property. And you would want to steer clear of purchasing or renting such a place, correct? Thus, let’s explore the factors to take into account before buying or renting a property and the significance of obtaining home insurance.

Things to Consider While Buying or Renting a House:

• Before acquiring or leasing a home, you should contemplate specific factors concerning the property’s inspection. Failing to do so might result in hazardous situations for you and your family living in the home. They include the following:

1. Weak Foundation –
   
   The foundation is essential to a house. Therefore, it is crucial to determine whether the base of your home is robust or frail. There are several methods to assess it. Some indicators of a weak foundation in the house are as follows:
   a. The deterioration of concrete
   b. Difficulty in closing doors or windows
   c. Cracks or gaps in the residence
   d. Presence of a sloping surface or sagging in the foundation walls or floors
   e. Inadequate drainage in the foundation floor
   
2. Cracks on Wall –
   
   The shrinkage and expansion of concrete occur due to fluctuating temperature and humidity. Continuous expansion and contraction of concrete can lead to cracks in the walls of a home. Some cracks may be minor and harmless. However, at times, these hairline cracks can become hazardous if they continue to widen over time. Numerous cracks on a single wall or in a room indicate significant structural issues. Expert evaluation is advised to examine the cracks.
   
3. Faulty Plumbing –
   
   Defective plumbing and drainage systems result from the use of incompatible piping materials and problematic fixtures. Poor installation of pipes and fixtures can lead to water leakage, drainage blockages, and leaks from showers or pans. An engineer’s assistance is necessary to assess the degree of deterioration of the pipes.
   
4. Improper Electrical Wiring –
   
   Incorrect electrical wiring within the house can result in short circuits or even fires. It is recommended to hire an inspection engineer to review the entire electrical system of the house. Look for signs such as:
   a. Insufficient power supply
   b. Incorrect wiring connections and circuits
   c. Lack of adequate overload protection
   
5. Flooring Issues –
   
   The ground failing to support the tiles, water seepage on the floor or ceiling, or widening cracks in the tiles all signify poor flooring quality in the house.

Importance of Home Insurance While Buying or Renting a Home:

• Just like evaluating and examining a house prior to moving in is essential, obtaining Home Insurance is also critically important before purchasing or leasing a home. The following are the reasons why it is vital to protect yourself and your family with Home Insurance before making a decision to reside in a property:

1. Property Damage Cover –
   
   It doesn’t matter whether the house has any structural issues or not. Home Insurance should be your top priority. This is because as the house ages over time, if anything occurs to the property, the policy can effectively cover your damages and losses.
   
2. Aid and Security –
   
   The policy can also offer you assistance and support to maintain your house for the long term and also provides protection for your residence.
   
3. Reliable –
   
   Home Insurance additionally covers the furniture and other belongings within the home. This makes it a dependable and essential action to take while purchasing or leasing a home.
   
4. Liability Cover –
   
   Home Insurance also provides liability coverage for incidents or accidents occurring within the house. Each home insurance policy has its own liability limit. This means that the insurance company can cover up to a specific amount that depends on the terms and conditions of the insurance policy.
   
   Conclusion
   
   With the rising costs in the real estate market, locating the ideal home for you and your family can become quite challenging. Keep in mind that investigating structural issues of a house prior to buying or renting is just as crucial as securing house insurance. Both are important in their unique ways. If you’re seeking to insure your home, HDFC ERGO’s Home Insurance provides coverage for nearly any accident affecting your residence, including natural disasters, burglary and theft, fire, and terrorism. It features a straightforward application process and budget-friendly premium options.
   
   Disclaimer:
   
   The information provided above is for illustrative purposes only. For further details, please consult the policy wordings and prospectus before finalizing the purchase.