Should you buy a stucco home? For many that might be a strange question but it is one that an experienced agent will ask a client. The answer isn’t one driven by personal preference; the answer is driven by public perception of stucco, issues noted with it and the resulting impact on value. The main culprit is synthetic stucco or EIFS (Exterior Insulated Finish System). Masonry stucco is a different product but the broad brush and issues with synthetic hit it as well in the eyes of the public.
In 1995 significant attention was brought to the product when several EIFS lawsuits were brought in North Carolina. There were a laundry list of issues including insect infestations, mold, wood rot, loss of structural integrity and much more. The main issue was something that made the product attractive in the first place; the ability to keep moisture out. The only issue was that improper installation is keeping moisture in and rotting homes from the inside out.
As if that wasn’t bad enough, this hit the radar of relocation companies. Many either prohibit or strongly suggest that transferees not buy homes any stucco – even those with small areas of stucco. The suggestion includes the transferee's understanding that they forfeit their buy out if they purchase a stucco home. How’s that for market appeal, especially in Atlanta where employee transfers are very common. Appraisers and inspectors weigh in about stucco as well and the impact on value and marketability; none of it’s good.
The Hank Miller Team dives into the question of “should you buy a stucco home” and examines the problems from the sales, inspection and the appraisal side. There is little doubt that stucco brings several challenges to the table, it pays to learn about all of them ahead of time.
THE HANK MILLER TEAM COUNSELS HOME BUYERS AND SELLERS IN THE ATLANTA AREA WITH OVER 25 YEARS OF SALES AND APPRAISAL EXPERIENCE.
