When purchasing a home, it’s easy to get swept up in the excitement of finding your dream property. However, some seemingly minor issues can turn into major insurance headaches if not addressed early. Here are a few things homebuyers should be mindful of to avoid surprises down the road.

1. Old or Outdated Electrical Systems

Older homes often come with outdated wiring or breaker panels that may not meet modern safety standards. Aluminum wiring, knob-and-tube wiring, or overloaded panels are red flags for insurers, as they increase the risk of fire. Before closing, ensure a licensed electrician evaluates the system and provides an estimate for necessary upgrades.

Want to get to know some of the communities in and near Winnipeg? Learn all about Transcona in the posts below:

• Everything You Need To Know About Living In Transcona
• Our Favourite Transcona Neighbourhoods
• Our Favourite Transcona Neighbourhoods: Part 2

2. Roof Age and Condition

The roof is your home’s first line of defense against weather, and its condition is a major factor in insurance eligibility. A roof nearing the end of its lifespan or showing signs of damage (like missing shingles or leaks) could lead to higher premiums or coverage denial. Ask the seller about the roof’s age and have it inspected by a professional.

3. Skylights

While skylights can add natural light and aesthetic appeal to a home, they also pose potential risks. Poorly installed or aging skylights may lead to leaks and water damage, which are often costly to repair. Insurers may view skylights as an increased risk factor, especially in regions with heavy rainfall or snowfall. Ensure that any skylights are professionally installed and properly sealed.

4. Proximity to Natural Hazards

Homes in flood zones, wildfire-prone areas, or regions with frequent hurricanes or earthquakes often require specialized insurance policies. These policies can be expensive and may not cover all types of damage. Check flood maps and ask about the home’s claims history to understand potential risks.

Are you a first time home buyer? The posts below can help:

• Understanding the FHSA: A New Tool for First-Time Home Buyers in Winnipeg.
• Should First-Time Buyers Jump Straight to a Forever Home?
• Buying a Condo? What to Consider in Addition to the Condo Unit.

5. Plumbing and Water Damage Risks

Hidden plumbing issues, such as old pipes or a lack of proper drainage, can lead to water damage—one of the most common insurance claims. Look for signs of leaks, water stains, or musty odors. Consider having a plumbing inspection done to catch hidden problems before they escalate.

6. Swimming Pools and Other Attractive Nuisances

Features like swimming pools, trampolines, or treehouses can increase liability risks, leading to higher premiums. Ensure that these amenities comply with local safety regulations, such as fences or covers, to minimize risks and insurance costs.

While no home is perfect, identifying potential insurance pitfalls early can save you time, money, and stress. Work with a trusted home inspector, ask detailed questions, and consult your insurance agent to ensure you’re fully informed before committing to a purchase. Being proactive now can help you avoid costly surprises later.

Do you want more advice when purchasing your home? Our Winnipeg real estate agents are happy to help. Reach out to info@goodfellowrealty.com or call 204-224-2551 with any questions.