Boomer homeowners risk sale shock from old consent gaps

Many Baby Boomer homeowners preparing to sell, downsize or move into retirement living could face unexpected losses because renovation work completed decades ago was never properly signed off. 

Marty Bamford, CEO of Platinum Pacific Group, says more homeowners are discovering during the sales process that work carried out in the 1980s, 1990s or 2000s does not have a Code Compliance Certificate or final Council sign-off. 

“Many of these homes have had the same owners for a long time,” says Marty Bamford. “They bought them as family homes, improved them over time, and assumed the paperwork was handled. Then, when they go to sell, they find there are gaps in the consent record.” 

If a property has unconsented building work, buyers may become nervous, insurers may ask questions and banks may be reluctant to lend. 

Marty says the problem is not always caused by carelessness. In many cases, homeowners used builders, designers or consultants and believed the job had been completed properly. 

“At the time, people often thought the work was done and that was the end of it,” Marty says. “The problem is that a missing certificate can come back years later, usually at the worst possible moment.” 

That moment often arrives when older homeowners are trying to release capital from the family home. Some are moving to a smaller property. Others are considering retirement village living. Many are relying on the sale price to fund the next stage of life. 

“People may have done plenty of work on their homes over 30 or 40 years,” Marty says. “A bathroom, a deck, a reclad, internal changes, a garage conversion or an extension. Some work may have been consented, some may not have been, and some may have consent but no final Code Compliance Certificate or sign-off. 

The financial impact can be significant. Marty says unresolved compliance issues can reduce the buyer pool and affect the final price. 

“If a buyer cannot get finance, your buyer pool shrinks,” he says. “If the buyer’s lawyer or bank sees risk, that risk gets priced into the offer.” 

Marty says the first step is to get the property’s LIM and council file, then compare the records with what is actually on the property. 

“A LIM can tell you a lot,” Marty says. “It shows what council knows about the property. If you know a deck was built, a wall was moved, or cladding was changed, but there is no record of it, that is the sort of thing you want to identify early.” 

The Council file will provide all documented information on the property held by Council. 

In some cases, the solution may be simple. In others, homeowners may need a builder, building surveyor, lawyer or council specialist to assess the work and advise on the best path forward. 

The biggest mistake is waiting until a sale is already under way. 

“If you discover a problem after you have accepted an offer, you are under pressure,” Marty says. “It is far better to deal with it before you go to market.” 

His advice is clear: do not assume old work is compliant just because it has been there for years. 

“Before you sell, check the paperwork,” Marty says. “If there is a gap, get advice. In many cases, there is a way through, but you need time to deal with it properly.” 

For homeowners who have spent decades improving and maintaining their properties, the issue can feel unfair. But Marty says the aim is to help people avoid finding out too late. 

“Your home may be your largest asset,” he says. “If you are planning to sell in the next few years, make sure the paperwork protects the value you have built.”