The process of buying a home is a lengthy one. It can take months of viewing through home after home and making several offers. But aside from price negotiations, an essential part of the process is the home inspection. This is where you make sure that a house is fully functional and fits the best of your criteria.
A home inspection is important because it gives a buyer the confidence to buy a property. It’s an unbiased view of the home by a professional, which lets buyers like you see unseen problems and possible issues. It helps in finalizing the offer and negotiation. Most importantly, it reveals if the house really is the buyer’s dream home, or if the buyer should keep looking.
There are many types of inspection processes that can be conducted before the final purchase. Professionals can give an accurate assessment while examining structures. They can also provide detailed reports once the inspections are done. Read on to learn why home inspections are an essential choice to take in the homebuying process.
Why is a Home Inspection Important?
Home inspections act as visual evaluations of properties, from the very top to bottom. They aren’t a required step by mortgage lenders, realtors, and agents, but they’re highly recommended. You have to make sure the property you’re looking into is a good investment and not something you might regret.
The seller can provide you with a general overview of the home and its condition. A home inspection, though, can give you more detailed information which can be used in a variety of situations. The structure, foundation, plumbing, and any other amenities in the household are inspected and assessed.
Usually, home inspections cover the following areas of a home:
Not all home inspections will include plumbing and ventilation inspections, but the general structure is reviewed. Ultimately if you were unsure of a potential property before, then a home inspection can help you realize if it is for you or not.
— Showcase Realty (@ShowcaseRealty) June 19, 2021
What is the Purpose of a Home Inspection and Why is it Important?
For some people, buying their own home can be a goal they’ve always wanted to achieve. You might be one of those people. Most home buyers want to ensure a peaceful and comfortable living, even if they’re just buying the property as an investment.
Here are some of the reasons why a home inspection is essential:
1. You’ll discover structural problems
A home inspector will observe and inspect the foundation of a home closely, along with other structural components. If a house is not 100% structurally sound, inspection reports will identify what issues are present. When a home has structural problems, this can be a big red flag because a home that is not well-built can be dangerous.
2. Safety Measures
Buying a home is tricky, especially since you might be inexperienced in spotting potential hazards or safety risks. Inspectors can look at electrical systems to make sure that everything is working correctly. Radon tests can be done, as high Radon levels can cause lung disease.
Those are only a few of the safety measures that can be done to make sure your potential home is safe for you to live in.
3. Inspections are Cost-Efficient and Inexpensive
Home inspections don’t cost as much money as you might think. Depending on the size of the home, the normal range for an inspection is between $300 and $600. For an investment as significant as real estate, this small amount makes all the difference.
4. Discover Potential Pests and Insects
Insects can be a great danger to a home, as they can decrease its strength and durability. The likelihood of infestations or hazards for pests can vary, depending on the property and its environmental conditions.
Insects that feed on wood, such as termites, can be a huge problem. An infestation can make you spend more money on the home in the future. Other pests such as powder post beetles and carpenter ants can destroy wood and deteriorate the property’s condition.
5. You’ll Find Out if There’s Mold
Though mold is something that most people notice right away, sometimes it can be hidden deep within a structure. Minor mold problems can be a reasonably easy fix. However, in severe cases, it might require more cleanup and repair. Inspections can deduce how severe a mold problem might be before you buy a property.
6. It Helps You Plan Out Expenses.
Home buying on its own is already very pricey, and consumes large sums of money. Potential repairs and issues will cause more expenses. An inspection helps uncover problems. At the same time, it also helps buyers avoid any more costs.
This means you can budget for areas where you might need to spend in the future. This creates a reserve fund that can be used for replacement, upgrades, as well as plumbing and roofing.
7. You’ll Gain Confidence in the Property
When you’re looking over a property, it can be stressful, especially if you’re new to the home buying process. You might not be 100% sure that this is the house for you, even if it feels like it. What more can you do if you aren’t sure that it’s safe or secure?
Home inspections solve this problem by giving you reassurance about the property. You’ll become confident that you are making the right decisions, and it can help you further negotiate the final price.
8. You’ll be Aware of Pending Repairs
Thorough inspections examine every nook and cranny of the house. If there are going to be any serious issues or unseen ones, an inspector will likely see them. Some of the most common problems are relatively easy repairs, like faulty plumbing, broken windows, or worn out decks and porches.
9. It Will Improve Negotiations
Home inspections can be used as negotiation tactics, which might not be best for sellers and some agents. However, if there are significant problems and red flags that are uncovered in the inspection process, then a renegotiation is valid.
10. It Gives You an “out.”
For some people, a specific home condition or problem may be the dealbreaker. With a home inspection and its detailed report, you can get either a lot of reasons to go through with the purchase or enough to back out of the deal.
Many critical flaws in the property might not be in favor of the buyer. These flaws are usually only found after a complete inspection. This saves you a lot of money and time.
11. It Can Give You Peace of Mind
The process is already a very stressful one. What if you have additional worries about your home? Stress can both cause and be caused by overthinking about the property you’re trying to buy. With a home inspection, about 50% or more of your troubles can be cleared up.
— Showcase Realty (@ShowcaseRealty) December 22, 2021
Why Is Inspection So Important?
Professionals recommend getting home inspections done because they let you know what you can do before you purchase a property. You might need future repairs, maintenance, or any other unseen problems that might need action. These can be used to level negotiations as well when you make the purchase.
You’ll know the weaknesses and downsides of a property through a thorough and detailed inspection report. It gives you reassurance and comfort in the property you’re choosing.
No matter how old or new a property is, there are still some problems that can’t be seen unless you seek them out. With an investment as big as a home, it’s always better to be safe than sorry.
Get a FREE comprehensive buyer’s agent home inspection cheat sheet, visit BuyerBeware13.com, or call 704-997-3794 to speak with an expert.