According to home inspection industry experts, nearly 72% of homeowners in the U.S. agree that the home inspection they had when purchasing their current residence helped them avoid potential problems that could have cost them significantly. Whether you’re buying a modest fixer-upper, a recently built condo or a traditional home that’s been around for years, getting the lowdown on your potential home is of great importance.
However, many homebuyers are often swept up by the excitement of buying a new home and forget the important decision of having a home inspection before buying a home. A home inspection is an instrumental part of the home buying process. Here are our top five reasons for having a home inspection before buying a home:
Don’t Judge a Home by It’s Visual Appeal
Many homebuyers buying newer homes on the market don’t feel the need to have an inspection done. No matter how long the home has been on the market, there are always potential unknowns when it comes to plumbing, wiring or structural issues that may not be visible during a showing. A thorough home inspection is crucial for identifying such issues.
For instance, an article discussing the dangers of popcorn ceiling removal show the dangers associated with not doing a home inspection. Assuming that a home looks perfect by its visual appeal is a huge mistake. Having a professional home inspection is the only way you can identify structural and safety issues both in the home’s interior and exterior space.
A Home Inspection Saves You Money
Home inspections cost anywhere between $300 and $500 depending on the size and age of the home. That may seem like a lot initially, but think of it as a necessary expense to save you from spending money doing repairs that could have been avoided. Say, you skip doing a home inspection and end up rewiring your entire home a few years later because of a major fault.
Just because everything seems to work fine doesn’t mean that everything’s okay. Top home inspectors share some common problems found during home inspections that save their customers money and time. Also, you have to look out for things like broken timber roof trusses, raised roof shingles that could cause water damage, missing insulation in homes marketed as energy-efficient homes, unattached ducts to the HVAC system and missing siding.
Gives You Power to Negotiate
When a home inspection reveals major problems, it allows you to renegotiate the terms of the original accepted home offer. If the home you’re interested in is above your price range, information gathered from a home inspection may give you valuable bargaining power to talk down the home sale price. Depending on the terms of the original contract, problems identified can be used to get a reduced price or a concession from the seller towards closing costs.
Doing a home inspection also helps you negotiate seller repairs. After the home inspection is completed, you can request repairs from the homeowner or seller. You don’t have to walk away from a home simply because of the significant inspection findings. If a seller agrees to fix the issues noted before moving forward, you’ll end up getting a better deal on your end. If the seller is unwilling to do repairs, estimate the cost and ask them to minus the amount off the total.
Know What You’re Buying
Perhaps the most important reason why you need a home inspection before you buy is to know exactly what you’re buying. It’s important to research your potential home just like you would when making any other large purchase. The more information you have in your hands, the less likely you’ll be surprised down the road. Professional inspectors can help you make a better decision based on the findings and your current budget.
According to a Huffington Post article on what to expect from a home inspection, hiring the services of a professional helps point out the details and potential issues you might not notice when buying a new home. An inspection report should include recommended repairs and