Home buyers are often torn when it comes to getting home inspections. On one hand, they want a house that’s free of major maintenance problems so that they can settle in and enjoy the space. On the other hand, they want to speed up the homebuying process, avoid time-consuming delays and make their bids more attractive in order to look better against the competition. The truth is that every home needs an inspection, even new houses. By hiring a qualified inspector, potential homeowners can potentially avoid buying homes that need costly repairs, like new foundations, support beams and roofs. Let’s take a look at why home inspections matter.
1. A home inspection can be a contingency.
Home buyers can stipulate that the sale can be canceled if the home fails a home inspection. Homes pass home inspections when the structure is deemed safe and free of any major defects. Items that may cause a home to fail an inspection include foundation damage, exterior wall cracks, roofing damage, a bad plumbing system or a faulty electrical system.
2. Home inspections can inform potential homebuyers of any health and safety issues.
Home inspectors generally inspect everything they can reach and see without causing damage to the home. This means that they often enter crawlspaces and attics, and they open every drawer and door. By performing those tasks, they can find health hazards, like black mold. Many home inspectors also carry handheld devices that test for radon, moisture and carbon monoxide.
3. Home inspectors are good at finding illegal and unpermitted installations.
Imagine buying a home and then later finding out that the sunroom you love so much was an unpermitted installation. Unpermitted and improperly performed work can lower the value of the home, affect the insurance rates and result in code violations that must be repaired. This can lead to tens of thousands of dollars in additional expenses.
4. Home inspections offer protection from making bad investment decisions.
Homebuyers and home investors who are looking to save money by purchasing foreclosed properties and as-is properties can get peace of mind and protection from making a terrible financial decision. Inspections can find critical flaws in the structure that the buyer wasn’t prepared for. For example, the images may show that the roof is bad, and the kitchen and bathrooms have been gutted. However, the buyer may miss the fact that the home contains asbestos, has major electrical problems, and the soil is eroding from under the foundation. The potential buyer may not be able to cover the costs of the additional hidden issues that were uncovered.
5. The inspection findings can be used to renegotiate the sale.
If a home inspection reveals problems with the roof, an aging plumbing system or needed safety upgrades, potential homebuyers can go back to the negotiating table to ask for repairs or price reductions.
All potential homebuyers should get a home inspection before finalizing the purchase of a house. Some home inspectors will even estimate how much life is left in certain critical systems, like the roof and plumbing system. This can save homeowners a ton of money in the short and long term and help ensure that the home is safe to occupy.
