Over three quarters, 77%, of Brits find faults with their homes after moving in, according to data collected by comparethemarket.com.
Moreover, the faults, on average, cost the buyer £4,936.37 to rectify.
However, 4% of respondents spent between £15,000 and £20,000, and a further 4% spent over £20,000 fixing issues, which were not spotted before the purchase.
The most common faults with properties, which are overlooked, include damp or mould at 24%, poor electrics at 22%, and poor plumbing at 20%.
In addition, cosmetic issues with walls/ceilings/internal fixings are also commonly overlooked at 19%, poor or no central heating at 18%, and poor water pressure at 17%.
Despite this, the most common inspections to undertake during a house viewing include, inspecting windows and window frames at 31%, asking how much utility/council tax bills are at 31% and opening and checking cupboards also at 31%.
The research surveyed both first-time buyers and experienced buyers. According to the data, 84% of first-time buyers claimed they spotted faults during their house viewing, but just 67% of experienced buyers said the same.
Furthermore, 19% of experienced buyers said they do not feel comfortable doing thorough checks during a house viewing. In comparison, only 9% of FTBs felt the same way.
Mark Gordon, head of mortgages at comparethemarket.com, said: “UK house prices are increasing substantially, and it is a very competitive time for homeowners looking to sell their home, and for anyone looking to buy.
“We conducted this study to stress how important it is to undertake thorough checks on a house prior to purchase.
“It reveals the most common issues people miss when viewing a property, and how much Brits are spending rectifying these issues when they should not have to. We have also created a house viewing checklist that potential buyers can take to viewings to ensure they do not miss anything important that will cost them later on.”