Depending on where you live, national averages can seem like a steal. Rene Artale’s four-bedroom house near Newcastle, in Westchester County, N.Y., suffered some damage during a storm last winter. A tree fell in the yard, damaging her fence, arbor and retaining wall. And heavy snow caused her roof to leak. The repair bills just kept piling up. Removing the tree, $3,800. Repairing the wall, $4,000. Fixing the roof, $3,800. Fixing the picket fence, $2,800. “It’s obscene,” Ms. Artale, 47, said.
When a home is sold, inspections are performed that may reveal environmental hazards such as radon gas in the basement or water supply or friable asbestos materials (both of which can cause lung cancer), peeling or disturbed lead paint (a risk to children and pregnant women), in-ground heating oil tanks that may contaminate ground water, or mold that can cause problems for those with asthma or allergies. Typically the buyer or mortgage lender will require these conditions to be repaired before allowing the purchase to close. An entire industry of environmental remediation contractors has developed to help home owners resolve these types of problems.
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