Benefits of a Home Inspection
Sometimes home buyers discuss skipping/waiving the inspection. Inspections cost quite a bit of money upfront, somewhere around $400-$1000 depending on what all is being inspected, and some buyers think they can just figure it out on their own once they close. Honestly, the benefits of having your home inspected outweigh the money aspect and I always recommend to buyers to get their home inspected prior to purchasing it. Why do I highly recommend getting the home inspected? Read on to find out.
1. Basically Pay for Themselves: In the long run, inspections can pretty much end up paying for themselves. Consider this…
As a buyer, you have an accepted purchase agreement. You spend around $700 for a general inspection and a sewer scope. A scope of the sewer does not come with a general inspection, but if there are a lot of mature trees around the home it is definitely something I would advise to get. So, your inspection was completed and you get the report back. Your inspection report comes back with some fixes that you are willing to do on your own once you purchase the home, a few electrical items that need to be addressed, and the scope of the sewer shows roots in the main sewer line. Just those few items would be well worth your $700 to know prior to purchasing the home. Since you reserve the right for an inspection on the purchase agreement, you now can respond to the inspection and ask that the sellers do items that came up on the report. This is an entirely separate negotiation from the purchase agreement and considering electrical items and main sewer line issues are major defects, this is something that the seller has to address either with you as the buyer, or disclose/fix the defects prior to putting it back on the market.
Long story short, inspections can basically pay for themselves because then you negotiate with the seller for them to get defective/marginal items completed prior to closing.
2. Know What You’re Buying: As a home buyer, you want to know what you are getting when probably making your largest purchase to date. Inspections help make you aware of hidden problems. Sometimes, there are issues behind the pretty façade of the home that you nor your realtor would see without a professional inspector thoroughly examining each major part of the house from the foundation to the electrical box. Often, owners/sellers aren’t even aware that there are issues in things like the attic or the crawl space, both of which a general inspector checks. Inspections help you to get a sense of peace and are kind of a safety net for you to make sure that your home does not have any major defects prior to purchasing it.
3. Help You Plan Ahead: There will most likely be some items on inspection that the sellers do not agree to do prior to closing and/or that you do not ask for them to do on the inspection response. Having an inspection done before owning the home can help you to plan ahead for what items you want to get fixed when you move in. Maybe there are some super simple things you can do right away before moving in to get them out of the way like getting a plastic pipe to extend a gutter drain further away from the house. Having an inspection done can help you to budget and prepare for items that should be done in the near future.
In conclusion, having an inspector come to take a professional look at the home you are getting ready to purchase is something I strongly encourage. You want to know what you are getting for your money before actually buying it. Questions on the home purchasing process? As always, I am here to help!
Happy House Hunting!