Buying a home is probably one of the largest investments people make in their lifetime. Buyers should ensure the property is in a good state before signing a contract. This is where a home inspection comes in handy, as understanding the value of a home inspection can save you from other costs later on. This blog explains the importance of home inspection and how you can benefit from it.
What is a Home Inspection?
A home inspection is the professional examination of a home to determine its condition. An inspector considers the exterior and interior aspects of construction, such as the foundation, roof type, plumbing, electrical and mechanical issues, and HVAC. The concept is to look for problems hidden through simple observation.
The Importance of Home Inspection Explained
We will now spell out some key reasons for home inspection importance and how they can help you avoid costly repairs later on.
Uncover Hidden Problems
Every home has issues, even the seemingly well-maintained ones. The key to home inspection is to identify these problems before you become the house owner. That means a small crack in the foundation, a damaged roof, or defective plumbing may be discovered when you are physically present at the home. A professional inspector can identify such issues and explain the state of the house you intend to buy.
The National Association of Realtors (NAR) has noted that the majority, 88%, of buyers undertake to buy homes on the condition that professional home inspectors will inspect them before they buy. This shows just how important this step is in the buying process.
Save Money On Major Repairs
While a home inspection may cost you some money, it can save you a lot of money you would spend fixing problems. If the inspector discovers problems such as electrical issues, mold, or rundown walls, you can ask the seller to repair them; otherwise, you can negotiate the price.
Buyers who have never had a structural assessment done on their homes may wake up one morning and discover serious structural flaws within a few months of moving into the home. They could have avoided this nightmarish situation by opting for a home inspection.
Better Negotiation Power
The importance of home inspection comes into the spotlight again as it gives you the power to negotiate with the seller. You can argue that the repairs identified in the inspection report will incur heavy costs, so the seller must reduce the house’s price. It’s possible to negotiate with the seller once you are aware of the existing problems in a home. Some sellers may conceal defects in their homes and expect the buyers to learn about them after signing a deal.
Peace Of Mind
Undoubtedly, one of the greatest benefits of a home inspection is assurance. Purchasing a home can be stressful, and the last thing you need is to have to repair it only after a few months of moving in. When you get a comprehensive home inspection report, you know what you are getting into when you agree to buy a home. We cannot overemphasize the importance of home inspections in reducing buyers’ stress.
Insurance Issues
It is common to find that some home insurance policies may not cover specific repairs because the damage was present before the policy was activated. A home inspection lets you make necessary arrangements after being informed of the existing problems. For instance, insurance coverage may be unavailable if the inspector identifies damage from water or mold in a particular part of the home. It is helpful to be aware of this to alter the insurance coverage or plan the remedial measures.
How To Avoid Costly Repairs With A House Inspection
Here are a few ways a house inspection can help you avoid costly future repair jobs. Read to learn more about them.
Hire a Qualified Inspector
The first tip you need to employ to get the best home inspection is hiring the right inspector. Though it may be difficult to manage your budget, you are advised to consider the price of the hiring inspector and hire the best talent in the market. Consult your realtor, friends, and relatives, and look for suggestions from clients online. Hiring a professional home inspector who understands what must be inspected and gives a detailed report would be better.
Attend the Inspection
It is advisable to be physically present during the inspection process. This allows you to speak directly to the inspector and get a first-hand view of the property. You may also be able to identify some of the problem areas that are not necessarily cataloged in the report.
Learn The Importance Of The Inspection Report
While using the home inspection report, check all the findings that were observed during the inspection process. Pay special attention to the issues highlighted as serious or severe. Some problems may not be as urgent or require immediate fixing, so you may choose to ignore them. Knowing the nature of the major or minor issues will help you plan repairs and prevent spending.
Don’t Skip The Inspection
Some people may think that the inspection process is a waste of time and effort and, therefore, skip it. However, this is not advisable. There can be many instances where you fail to identify defects that could be costly to repair. Trust the importance of home inspection and take it as a necessary step before you close the deal.
Common Problems Found During A Home Inspection
Here are some of the most common issues that a home inspection may uncover:
Roof Damage
It includes water seepage, damaged roof shingles, or even a problem with the roof’s frame, among other issues. Roof damage can be very costly to fix.
Plumbing Issues
Cracks in pipes or outmoded plumbing can result in water leakage and expensive water damage.
Electrical Problems
Potential hazards include inadequate wiring, old electrical panels, or non-conformity with the code.
Foundation problems
Many drainage problems can cause costly repairs, such as sinking portions of the house or shifting ground underneath it.
Mold
Mold spreads very fast, and the process of its removal may be long. If it is situated in a concealed place and present in large amounts, it is better to remove it using expert help.
Conclusion
Home inspection is more like a necessity. Whether it is your first house or you are an investor in real estate, you should always get a professional residence inspection so that you do not incur unseen expenses in the future. In every home-buying process, there may be secrets lurking that only a professional home inspector can reveal; it also gives you bargaining chips during the buying process.
Do not jump over this crucial stage of the home-buying process. You can avoid costly future home repairs after hiring a professional inspector to check on the new house.
Are you ready to protect your investment? Get your complete home inspection from Total Home Inspections. Our inspectors are certified to assist you by giving a detailed report and the best advice based on the inspection findings. Call us today to book an inspection and confidently proceed with your home-buying process.
