Ten Reasons Why You Shouldn't Forget a Home Inspection
Almost endless check-writing begins after your offer is accepted. There are many costs involved, including lawyer and realtor fees, and you may be looking for ways to cut down on these expenses. Although you may be tempted not to pay for a home inspection (which can cost anywhere from $200 to $500), there are ten reasons it is worth it.
- It provides an “Out.” A home inspection can provide critical information about the home’s condition and systems. This allows the buyer to see what repairs, costs, and maintenance the house will need. A home inspection can be the last chance for a buyer to withdraw their offer. This step is crucial when buying a property as it could save you thousands.
- Safety: A home inspection can identify safety concerns such as radon, carbon monoxide, and mold. All homes should be tested. You have the right to cancel your offer to purchase if such hazards are found in your home-buying contract.
- Reveal Illegal Installations and Additions A home inspection can show if rooms, basements, or altered garages were built without a permit or in compliance with the code. It can affect the house’s insurance, taxes, and, most importantly, the overall value. Buyers are buying something that is legally not there. New homes that are not code-compliant will be a financial problem for the homeowners. Inspection must be done on the home being sold/purchased.
- Protection: Home inspections are even more critical if you buy a short-sale or foreclosed property. Boarded dwellings can develop dangerous mold problems that are expensive to fix and pose health risks. It is common for home inspectors to find copper plumbing lines removed from homes by people who want to sell copper to recycling companies.
- Negotiating tool: A home inspection report can be used to request repairs or a price reduction. To negotiate a better deal, work with your realtor.
- Future Costs Forecast: The home inspector can estimate the age of major systems such as heating, cooling, plumbing, and heating, as well as critical equipment like water heaters. The inspector can also tell you how long the finishes have been in place. Each component in your home has a “shelf life.” Knowing when parts need to be replaced can help you make budget decisions and determine the type of home insurance or warranties you should purchase.
- Find “Deal-Breakers.” Home inspections help buyers determine how much extra money they will spend on the property to make it acceptable. You might not be ready to sell your home if you don’t want to fix problems like cracked ceilings or leaking utters.
- How to Protect Your Investment A home inspector can be a valuable resource. A home inspector can provide specific advice on maintaining your home and could save you thousands over the long term.
- The Big Picture: Buyers use the home inspection to fully understand the details of the most significant purchase they will ever make. He says people fall in love with property based on its location, color, or other factors and are blind to the potential problems that could make their dream home a nightmare.
- Insurance: Some insurance companies won’t insure a house if there are certain conditions or without certifications such as Wind Mitigation or four-point inspections. These things can be done by qualified home inspectors, saving time and money for the home buyer.
The Bottom Line
You are responsible for learning information about the property you will soon call home. You can learn about the property's perks and pitfalls by having a home inspection.
Providing Attention to detail
One Home at a Time