Reasons You Need to Get a Home Inspection

An important part of the process is the home inspection where a professional makes sure everything in the house is functioning properly and identifies needed repairs. Here are a few reasons why you don’t want to skip over this step.

The home-buying process is long and arduous. You often spend months searching for the right home before you make an offer and once an offer is made and accepted, you must jump through several more hoops before the sale closes. An important part of the process is the home inspection where a professional makes sure everything in the house is functioning properly and identifies needed repairs.

The buyer pays the cost of a home inspection but can always wave the right to an inspection. That’s not a good idea. You should make a home inspection a mandatory part of the home-buying process.

You need unbiased documentation of the home’s condition. This goes for both the purchase of a pre-owned home as well as new construction. 

Unseen and Unpredicted Problems

You can fall in love with a home for various reasons. You might love the size of the home, the open floor plan, the home’s exterior, or the layout of the kitchen. While the home may look to be in excellent shape, the home’s aesthetics can hide real problems.

You need an inspector to inspect the attic and inch around in the crawl space. The inspector can discover real and expensive problems that are not always apparent when you view the home with a real estate agent.

More Options

When you and the seller reach an agreement on the home, you are under some legal obligation to finalize the sale. Once the home inspector completes a report, you can renegotiate with the seller. You might want to have certain items repaired, or you could seek to have the cost of the home reduced. If an agreement is not reached on the items in the report, you can back out of the deal. A recent survey by the National Association of Realtors found that 14% of sales are never finalized due to the home inspection, the third largest reason.

“It’s going to educate you about one of your greatest purchases.” You are also learning very practical information about the home like where the main water shutoff valve is located and where the main fuel shutoff is.”

Cost Efficient

Cost is not an inhibiting factor for a home inspection. An inspection on a condominium can be as little as $300 while the cost of a single-family home inspection ranges from $350 to $500.  In the end, the money is worth the investment. A quality home inspection can keep you from having to pay tens of thousands of dollars in repairs costs. “You will always benefit more than the cost of your home inspection.”

Structural Problems

The home inspector will look at the foundation and other structural elements of the house. If the house is not structurally sound, the inspection report will identify the problems. Structural problems can be major red flags when buying a house.

Leaks

A new roof can cost $10,000 or more to replace and is one of the more expensive maintenance costs of owning a home. The inspector will look at the roof and identify any existing problems or whether it is in proper working order.

Safety

An important part of the home inspection is to make sure the home is safe. The inspector will look at the electrical system and make sure it is in proper working order. You don’t want to live in a home with an unsafe electrical system. If you choose to get a radon test, you will understand if the radon levels in the house are at safe levels. Radon is an odorless gas that can cause lung disease.

Maintenance Costs

A home requires ongoing maintenance. Things wear out and break. When putting together a budget for buying a home, you need to include maintenance costs. The amount of money that you budget will depend on the home’s condition. A newer home is less likely to need maintenance than an older home.

Negotiation Leverage

You have a huge amount of leverage with an inspection report. You can ask the seller to fix the problems in the report, renegotiate the asking price or ask the seller to contribute more to the closing costs. You are in the driver’s seat if the inspection report shows major problems with the house.

Peace of Mind

An inspection report is no home warranty of any kind, but it helps you understand the condition of the home when the sale finalizes which can ultimately bring you peace of mind. All in all, you don’t want any major surprises shortly after moving into your new home.

With a performed Inspection and Report you have actual physical documentation that informs you of the condition of the home. This is true even on new construction.