The Importance Of Home Inspections
Posted by Niels Madsen on
When it comes to buying a home you want to leave no stone unturned—after all, this is the biggest and most important purchase you’ll be making, and there should be no doubt left in your mind that you’ve found the right home for you.
This is where a home inspection comes into play. A pre-purchase inspection provides you with the opportunity to uncover details that won’t be apparent to the untrained eye, giving you insight into the future viability and structural soundness of the property, and bringing to light any potential problems or red flags. This not only gives you leverage when negotiating, but it can also help you make your final decision.
Here are some of the reasons why home inspections are an important part of the home buying process, as well as how you should approach a home inspection as a part of your home buying journey.
Unearthing Potential Safety Hazards
When it comes to finding a home that will be a perfect living space for you for the long term future, safety and security are undoubtedly paramount. But, it can be hard to really get a read on any safety issues that may become a problem both short and long term. By ordering a home inspection, you will be able to undertake a thorough inspection, allowing you to make an informed decision.
However, it’s important to understand that if a safety inspector is doing their job well, they will uncover a number of minor issues, even with newer homes. So keep in mind that there are often going to be smaller problems such as improperly installed wiring, worn roofing, and plumbing issues.
These should all be relatively simple fixes and are common occurrences likely to come up across a number of homes in your search. Your focus should be on obvious, difficult, or expensive to fix, and potentially value affecting issues.
Illuminating Insect And Pest Problems
Pest and insect infestations can cause serious long term damage to your home, and this is especially important if you live in an area with large populations, whether it’s an urban or non urban environment.
There are a wide range of species that can cause issues, but of particular concern should be wood-boring pests such as termites. Always make sure to check if your home inspection covers these areas before choosing an inspector.
Having pests doesn’t automatically mean you should stop considering the house, but it will be something that needs to be dealt with immediately, and can delay any move in date.
Checking For Compliance And Insurance Issues
By leaning on the expertise and insight that a professional home inspection should provide, you will also be able to check for any issue the home may have when it comes to being fully compliant with necessary codes, regulations, and permits.
This is especially important where major structural renovations or additions have been made, such as combining or adding rooms, altering garages or basements, or adding extensions. Any renovations or additions that are not fully compliant can create a number of issues, especially affecting insurance, taxes, and any future value the property might have.
This is one part of meeting the requirements for home insurance, something that a home inspection will help you ensure you’re able to do. In fact, some insurance companies will even necessitate a home inspection as one of their eligibility criteria.
Provide You With An Outlook For The Future
Purchasing a home isn’t just about finding a place to live—it’s an investment in the future, and it’s important to get the long term outlook that a professional home inspection will give you.
A home inspector will be able to assess the age and condition of critical components relating to plumbing, heating, cooling, and electricity. As well as the condition of the building’s structure, giving you an idea of when these things will require replacement or what maintenance will be necessary
Help You Make An Informed Decision
When it comes to purchasing a home it’s easy—and understandable—to get caught up in smaller aesthetic or superficial details and emotional reactions, whether that’s falling in love with the decor, location, or something else. But these impulses can blind owners to significant issues or drawbacks that would otherwise cause them to look elsewhere.
A home inspection is a great opportunity to get a more objective, big picture view of your potential future home, helping you make the right decision for you.
What To Look For In A Home Inspection
Before you go into a home inspection—or even the process of selecting an inspector or company—you should be aware of what you need to be looking out for. Firstly, inspectors will vary in ability and experience, so be sure to look around and find one that you feel confident in.
When it comes to the inspection itself, a good inspector should produce a comprehensive report based on a 2-3 hour inspection. It’s advisable that you’re also present for the inspection, both to get a first hand explanation, and so that you can ask questions and provide context.
How To Proceed After The Inspection
Once you have the results of the inspection, you need to decide what action, if any, you need to take, and whether or not your plans need to be changed. If the problems that arise are too significant or expensive to remedy, you should be able to walk away from the purchase, provided the contract has an inspection contingency if things have progressed that far.
For smaller problems—or if you’re unable to walk away—you can either ask the seller to fix them, ask for a reduction in the price, or acquire a cash credit on closing to fix these issues yourself.
Buying a home is a decision no one can afford to take shortcuts with, and that’s why you need expert professional real estate advice. Whether it’s an inspection or any other aspect of your home buying or selling process, get in touch with us today to find out how we can help you.