$3.00 Could have saved this couple $60,000! Could it save you?
Have you heard the urban legend stories of small plumbing leaks causing thousands in water damage, while home owners were away for the weekend? I have, however, had never actually met anyone who experienced this situation until recently.
Overseeing the sale of a home, I frequently have clients who will bridge finance for either a few days to a month, to allow for a smooth transition in moving. Most of us have heard the war stories of our friends and family who all tried to close the sale of their home while getting the keys to the new home in one day. This is becoming a more common trend these days, and allows homeowners to spread out the closing of one home and the possession of the new home over a period of time. They can decide to clean, renovate, repair, or any other of the small things that arise during the closing of a home, and the purchasing of a new home. The cost is nominal and the peaceful transition of relocating from one home to the other is worth the investment.
A client of mine, did just this. He and his wife had taken the time to pack up, organize the house and ensure that it was immaculate for the new home owners. On a Wednesday, they locked their door for the last time, and moved to their new home, excited and thrilled. The following Tuesday, the new owners of their home closed the deal and received the keys. They opened the door to their new home, with the same level of excitement and anticipation only to discover in horror - water damaged walls and floors on all three levels of the home.
You can imagine how quickly I responded to the phone call, when I received it from the distraught realtor working with the new owners. I dropped everything and went to investigate. I shut off the main water valve and made the dreaded call to the sellers. They were shocked and could not believe it.
The next day I met the insurance adjuster at the property and after a quick handshake, I opened up the home and let him in. One quick look and he marched right up stairs to the main bathroom toilet and looked at the supply line under the tank. YUP, he said, ANOTHER BROKEN PLASTIC FITTING!!
The final bill was $60,000 in damages! It seems that the white plastic piece on the supply line that screws to the bottom of the tank can fail over time and just breaks off causing water to leak and destroy your home. This is what most builders use and is one of the main causes of plumbing leaks and insurance claims. Rubber hoses attached to your washing machine is another one. So I finally found a type that has a brass fitting instead of the plastic and changed out the supply lines on all the toilets in the house. Piece of mind for sure. See the photo of the old and new attached. The price difference? Three bucks each! Yes you read that correctly $3.