Are you still contemplating paying for a home inspection? There are, indeed, many reasons why a home inspection is almost always included in purchase and sale contracts in real estate, and we’ll give you nine reasons why:
Are you looking into purchasing that house you saw a couple of weeks ago? When buying a home, it’s important to remember that you have the right to complete various types of inspections of the potential home you’re securing. A home inspection, for example, is one of the most common contract contingencies from homebuyers. So whether you’ve already purchased your fifth home or you’re about to buy your first one, going through home inspection in almost every case is a top recommendation.
Give yourself an “out”.
Seeking quality home inspection will reveal critical information about the true condition of a house and its systems. You become aware of the immediate costs, repairs, and maintenance the property needs and what it will over time. If you’re not comfortable with the result of the whole inspection, it will present the final chance to back out of the offer, giving yourself a way out.
Uncover those safety issues.
Detect home safety issues like radon, carbon monoxide, and mold, as well as pests and insect problems with a home inspection. Make sure your purchase contract states that should such hazards be detected, you have an option to cancel the offer at any time.
Reveal any illegal additions or installations.
A home inspection can reveal whether rooms, altered garages, or basements are completed without following a code or a proper permit. If a house has illegal room additions, it affects the insurance, taxes, usability, and overall value. In essence, a buyer is purchasing something that legally does not exist. It goes the same with new homes with systems not installed to code, which will be the new homeowners’ financial problem to fix.
It’s an effective negotiating tool.
Your home inspection report presents a viable opportunity to ask for repairs or request a price reduction (or credit) from the seller. Do work with your realtor to better understand what kind of requests can be made to get yourself a better deal.
Get an idea of future costs.
Home inspectors give you an approximate installation age of major systems inside a home like plumbing, heating, and cooling, and critical equipment. A diagnosis of the current condition of the house structure, how long the finishes have been in the home, and when they will require replacement will help you make important budgeting decisions.
It’s relatively inexpensive.
Contrary to what most people think, a home inspection doesn’t cost a lot of money. Most home inspections will range between $300-$600 depending on the size of the home. Considering that a house is a large investment, that small amount of money to help you make a crucial decision will be well worth it.
Determine those “deal-breakers”.
Home inspections help buyers identify if the additional money or effort a house requires is personally acceptable or beyond budget. If you are unwilling to repair issues like faulty gutters, cracked walls, or ceilings, perhaps you’re not looking at the right home to buy.
Protect your investment early on.
Get valuable tips on how to maintain your prospective home and save yourself thousands of dollars long-term by seeking help from home inspectors. Getting suggestions from a professional will help you learn how to protect your “investment.”
See your prospective home for what it really is.
Home inspections help you understand the nuances of what may be the biggest purchase of your life. Don’t allow yourself to be completely blind to the issues that can make your dream home a nightmare– avoid skipping home inspection and get the house that’s right for you and your family!