After your offer to buy a house turns into a contract, you’ll have to write a lot of checks.
There are a lot of necessary costs, like realtor and lawyer fees, which may make you look for ways to save money in other areas.
You might be tempted to skip the home inspection and the $200-$500 bill that comes with it, but there are ten good reasons to get one.
- It Gives You A Way Out.
A good home inspection can tell you important things about how a house and its systems are doing.
This lets the buyer know what costs, repairs, and upkeep the house may need right away and in the future.
If the buyer isn’t happy with what the home inspector finds, it’s usually their last chance to back out of the deal.
Radon, carbon monoxide and mold are all safety problems that can be found during a home inspection. All homes should be checked for these things.
Make sure your home-buying contract says that if you find such dangers, you have the right to back out of the deal.
- Show Any Illegal Installations Or Additions
A home inspection can show if rooms, garages, or basements were added or changed without a proper permit or did not follow the code.
If a house has illegal room additions that weren’t approved, it affects the insurance, taxes, usability, and most of all, the value.
Basically, a buyer is buying something that does not exist legally.
Even new homes with systems that weren’t installed to code will become the new owners’ financial “problem” to fix and finance.
Home inspections are even more important if you are buying a foreclosure or short sale that is being sold “as is.”
Boarded-up homes often get dangerous mold problems that are expensive to fix and can be bad for your health.
It’s common for home inspectors to find copper plumbing lines and outdoor compressors taken out of foreclosed homes by people who want to make money by selling the copper to recyclers.
- A Tool For Negotiating
The home inspection report gives you a chance to ask the seller to make repairs, lower the price, or give you money back.
Work with your real estate agent to figure out what you can and should ask for to get a better deal.
- Estimate Costs For The Future
A home inspector can get a good idea of how long ago important systems like plumbing, heating, cooling, and water heaters were put in.
They can tell you what’s wrong with the building itself and how long the finishes have been there.
Every part of the house has a “shelf life.”
Knowing when they need to be replaced can help you make important decisions about your budget and will tell you what kind of home insurance or warranties you should look into.
- Determine “Deal-Breakers.”
Home inspections can help buyers figure out how much more money or work they are willing and able to put into the home to get it to a condition that is acceptable to them.
If you don’t want to fix things like broken gutters, cracked walls, or ceilings, you might not be ready to stop looking for a home.
- Learn How To Keep Your Money Safe
The home inspector is a very helpful way to learn. They can give you specific tips on how to take care of the house, which will save you thousands of dollars in the long run.
- Reveal The Big Picture
People should use a home inspection to learn more about what could be the biggest purchase they ever make.
People fall in love with a piece of property because of the colour of the walls, its location, or something else. They are completely blind to the problems that can turn that dream home into a nightmare.
Some insurance companies won’t cover a home if certain things are wrong with it or if it doesn’t have certifications like Wind Mitigation or a four-point inspection.
Qualified home inspectors can do these things at the same time as their other services, saving the buyer time and money in the long run.
It is up to you to find out as much as you can about the place you might soon call home.
Home inspections show you how the house works on the inside. This lets you know about all the pros and cons of the house.