Can you sell your home with a broken boiler?
Simply, yes, you can sell your home with a broken boiler. There is no requirement legally that states a boiler needs to be in working condition before you sell your property. However, it is not advised to do so, as having a working or brand-new boiler in your property is much more advantageous to both the seller and the buyer.
First off, you have to declare the broken boiler to the buyer of the property. Often the value of your house will then drop in line with the price of a new boiler as well as the boiler installation. Some potential buyers may then question if other things are wrong with the property and subsequently pull out of buying it. Some questions that may arise include:
- How long has the boiler been broken?
- Has the house got a damp problem as a result?
- What other nasty surprises are we in for?
Is it Legal to Sell a Home with a Broken Boiler?
There's no legal requirement for a home to have a functioning heating system before sale. However, transparency is crucial. You must disclose the broken boiler to potential buyers, typically through the Property Information Form (TA6).
You must disclose any issues with the central heating system, including a faulty boiler. Failing to do so could result in legal complications post-sale. Buyers might claim misrepresentation or negligence, potentially resulting in costly legal disputes. It's always better to be upfront about any issues, allowing buyers to make informed decisions.
Impact on Home Value
A broken boiler can significantly reduce your home's value. The reduction often equates to the cost of a new boiler installation, which can range from £2,000 to £4,000 for a typical combi boiler. However, the impact may be greater if the issue has caused additional damage or if buyers perceive it as indicative of overall poor maintenance.
Some buyers might view a broken boiler as an opportunity for renovation, particularly if they're planning to upgrade the heating system anyway. However, most buyers prefer a fully functional heating system and may use the broken boiler as a negotiating point to lower the offer price.
Role of Surveyors
It's important to note that surveyors don't typically test boilers during a home survey. Their role is to visually inspect the property and note any obvious issues. They may ask about the boiler's last service date and include any visible problems in their report.
However, surveyors aren't Gas Safe registered engineers and won't conduct a detailed examination of the boiler's functionality. This means that while a surveyor might flag a visibly damaged boiler, they won't necessarily identify all potential issues.
So, what are your options?
The first option is to repair or replace the boiler before selling. This approach typically offers the best return on investment, as it removes a significant barrier to sale and can help maintain your asking price. A new boiler costs between £2,000 and £4,500, but it can add up to £8,000 to your property's value.
Alternatively, you could sell the property as-is, with appropriate price adjustments. This approach might attract investors or buyers looking for a project, though you'll likely need to accept a lower offer to account for the repair costs.
A middle-ground approach involves getting a quote for the repairs and offering this amount as a reduction in the asking price. This gives potential buyers clarity about the costs involved and demonstrates transparency.
If you decide to sell with a broken boiler, be upfront about it in your listing. Focus on other selling points of your property and consider highlighting the opportunity for buyers to install their choice of heating system. Some buyers might appreciate the chance to choose an eco-friendly or more efficient option.
Is it worth replacing the boiler?
Replacing a broken or faulty boiler can be extremely beneficial to the seller. Having a new boiler installed will:
- Add value to the property. It is estimated that a new system can add around £9000 to the value of your house.
- Make the house a lot more energy efficient.
- Make the property more appealing to a potential buyer.
- A well-maintained older boiler is still a great asset when selling your home because it shows the house is well maintained and looked after.
While selling a house with a broken boiler is possible, it's crucial to weigh the costs of repair against potential price reductions. In most cases, fixing the boiler before sale offers the best financial outcome and smoother selling process. However, if you're targeting investors or have limited funds for repairs, selling as-is with transparent price adjustments can be a viable alternative.
Remember, whichever route you choose, honesty about the boiler's condition is essential for a legally sound sale and maintaining buyer trust.
Speak to a boiler installer today
Our local boiler installers can help with any queries you have over what type of boiler and what size is best for your property.
For additional advice on our boiler installation services, please call us on 01903 740538 or 07871725133. Pipeline Plumbing Services Ltd have many years of experience offering its services across all of West Sussex, including Horsham, Pulborough, Storrington and Billingshurst.