A home inspection is a crucial step in the home-buying process. Properly done, it uncovers issues with the house that may have gone unnoticed by a non-professional.
It’s a step that you’d be well-advised not to skip. However, there are still buyers that choose to forego getting a home inspection. Read on to see why you don’t want to be one of them.
Benefits of a Home Inspection
- Home inspections can save you thousands of dollars
Looking for ways to save money? Skipping the inspection is not one of them.
Home inspections cost around $300 to $500 for properties that are 1,000 to 2,000 sq. ft. in size. This is nothing at all compared to what you’d spend for a major repair. According to HomeAdvisor.com, homeowners spend around $5,000 to $9,000 on roof replacements alone.
And that’s just one of the potential problems home inspections can save you from. Others include mold, termites, radon gas, and more. The National Association of Home Inspectors says that their inspectors are trained to look at 1,600 different things.
- Buyers can use inspection results as a bargaining chip during negotiations
While a home inspection can uncover problems, this isn’t necessarily a major setback – though the whole home-buying process may need to be extended. You can negotiate for a lower price if you will be fixing the problems yourself or have the seller take care of the repairs. This is why it’s so important not to remove the home inspection contingency clause in your purchase contract.
- A home inspection lets sellers know what problems to fix
While home inspections are usually conducted by buyers after their offers are accepted, sellers can also opt to get a home inspection while they’re still preparing to sell.
By having your property inspected before you put it on the market, you give yourself time to address issues that may otherwise torpedo a great deal for you later on. Nothing gives buyers more leverage than bad results on their home inspection.
- It gives you important insights on the property
After a home inspection, the inspector will present you with a lot of information. This includes info about what condition the major house systems are in, the life expectancy of built-in appliances like the furnace and the A/C, the state of the structure itself (whether the foundation looks like it’s sagging, etc.), the security of doors and windows, the plumbing is in good condition, and so on.
As a potential homeowner, this is information that you definitely want to have so you can evaluate future costs and make the best possible decision.
- You get peace of mind
A house is a huge investment. Not only is it going to significantly affect your finances, it’s also going to be where you and your family will live your lives. You don’t want to be having doubts about a place that’s supposed to be your haven.
If you really want to be sure about a property, then you definitely want to get a home inspection. Whether the results will help you decide to go through with the deal, negotiate further, or walk away, you’ll do so with your eyes open.