A material defect in a property encompasses any issue that impacts the property's value or safety. This includes significant problems such as plumbing issues, electrical system failures, structural defects, or environmental hazards like mold or asbestos. These defects affect a buyer's decision to purchase as they may involve substantial financial implications for repair or pose risks to health and safety.
In contrast, cosmetic issues, while they may affect the aesthetics of the property, typically do not influence its value or pose safety risks in the same way that a material defect would. Minor repairs may also not be material defects unless they escalate to a level where they affect safety or value, and limiting the definition only to structural issues overlooks other significant factors related to the property's functionality and livability. Thus, the choice indicating that any issue impacting value or safety is a material defect accurately captures the broad scope of potentially problematic conditions that a buyer should be aware of when considering a property.