There are a number of reasons why you should look into getting a home inspection before buying a new home. The home inspection process is a vital step in the home-buying process that should not be overlooked. It entails a professional home inspector making sure that every aspect of the house is in good shape and optimum functionality. This process lets a professional identify components of the house that require repair—allowing you to get a better deal or decide on not buying the home at all.
99% of the time, a home inspection can help a homebuyer avoid a bad real estate deal. Research has found that about 14% of buyers find the information they get after an inspection so valuable that they begin searching for a different home to buy. This shows just how important a home inspection can be.
Here are the reasons why you always need to conduct a home inspection before purchasing your new home.
1. Uncover Hidden Issues
Who would want to be slapped with a bill they did not prepare for on their new home? Definitely no one. If there are hidden problems in the home you are planning to buy, you are likely to incur unplanned maintenance and repair costs in the future.
You can like a home due to various attributes. Maybe it’s size fits your family well, or its curb appeal is just what you have been looking for. Maybe you love the floor plan or the new coat of paint that the seller has applied. Are you sure with all certainty that the chimney is not blocked? Have you made sure the roof is not leaking? Are there any foundation issues?
You need a professional inspector with a keen eye to check out for these issues. Let them climb the attic to ensure there are no potential problems that may be hidden behind the beautiful look of the home. Allow them to inspect the kitchen and the entire plumbing system to ensure there are no water leakages and potential water problems.
2. It Gives You Negotiation Leverage
A specialized inspection can protect you as a buyer. Since it is conducted by an expert, you can use some of their findings as facts you can table as you or your real estate agent negotiate with the seller of the home.
The home inspector will give you an objective inspection report, sometimes with pictorial evidence of potential problems with the home. A home inspection can save you thousands of dollars by uncovering issues that would potentially affect the value of the home.
You would negotiate with the seller to have a certain amount of money slashed off the purchase price to cater to these issues. If you discover a defect that requires repairs, you can ask the seller to make the repairs before selling the home to you.
If you discover that the home has too many defects, or the seller is unwilling to do the repairs, you are free to walk away from the deal and find a better deal.
3. Identify Potentially Expensive Repairs
Can you imagine buying a home then having to replace the entire roof a few months later? This would be incredibly frustrating! A new roofing system would cost you close to $10,000, or even more depending on the home you are looking at.
It is vital for you to know before closing the deal whether the roof is in good condition or not. For the roofing system, you may need a roof inspector or a home inspector who doubles up as a roof inspector. Find out the age of the roof, its remaining lifespan, and if it needs to be replaced or repaired extensively.
Structural issues are also potential large ticket repairs that need a third, keen and professional eye to uncover. Is there a need to replace the columns or to reinforce them further? What about the walls? Are they swelling due to water pipe leakages? Are they at the verge of crumbling down?
If you do not discover expensive repairs and replacements, you may end up spending exorbitantly large amounts of money on the purchase of your new home.
4. Discover Illegalities In The Home
For one to construct a home, they need to get a permit that restricts them to certain specifications for the home. Some homeowners do not adhere to these set regulations and end up adding illegal structures to their property.
What would be your reaction if you moved into your new home only to discover that it should not have been built in the first place? Or that you were enthused by a size that surpassed the specifications of the local authority? You would end up wondering what other hidden legal issues the home is yet to slap in your face.
If your home and your ownership thereof contravenes the state regulations, you are likely to pay large fines should the illegalities be discovered. Worse yet, you may have to pay huge amounts in property taxes once you have worked on your legal permits. It may also be difficult to have your property properly covered by your insurance company.
A real estate agent may not be in a position to discover illegalities. Unless you hire a professional home inspector, it may be very difficult for you to detect illegal additions to your new home.
5. Get Peace of Mind
If you have bought a home before, or are in the process at the moment, you know how stressful the home buying process can get. There are several documents you have to review and sign, you may need to take a home tour, and negotiate with the seller.
Why frustrate yourself further by buying a home whose structural integrity you are unsure of, or which may have legal issues or potential large ticket replacements?
Get a professional home inspection for you to have peace of mind knowing that the home you are purchasing has no hidden potential issues. It is calming to know the extent of water damages, leaks, or drainage issues in your new home. It helps you plan yourself better and budget for the repair of such defects.
By getting these detailed assessments you will get a rough estimate of your future maintenance costs. You will use your home appliances knowing how long you still have before they need to be replaced. If these expenses do not look pleasant, you have the liberty to walk away from the deal!
The Bottom Line
Our advice to potential buyers is that they should always get a home inspection, especially if they do not purchase houses on a regular basis. It may cost you some time and extra money, but in the process shield you from large monetary costs and losses.
According to Hick, buyers can expect to pay $400 for a home of about 2,000 sq. ft. Home inspection costs for larger homes can range from about $500 to $600. Despite the additional expenses, it may reveal problems that the seller can fix before you make the purchase and finally move into your new residence.
Do not waive your home inspection, that might turn out to be the biggest mistake of your home buying venture!