Home Inspections Before You Buy
When buying an
expensive dress or suit, most people are careful to ensure there are no buttons missing or
seams loose, and that it’s made of a quality fabric. This is easy enough to do.
Buying a home is no different, except that few of us are equipped with the know-how
to ensure that the plumbing, electrical, heating and other major systems are working as
well as possible.
Also, after
months of house hunting for the “perfect home”, it can be difficult to set
emotions aside and really see the kind of shape the place is in. Problems, which are
not always easy to spot, such as bad plumbing, a shaky foundation, poor insulation and a
damaged roof, can turn your dream into an expensive nightmare.
That’s why
it pays to make a home inspection a condition of your offer to purchase, whether your
lending institution insists on an inspection or not. Before approving financing,
some lenders require you to hire a qualified home inspector to go over the inside and
outside of the house you want to buy. This ensures there are no major structural
flaws that will threaten the security of their investment.
It’s a
precaution every prospective buyer should take. One of the most important aspects of
purchasing a home is knowing the condition of the property in advance. Knowing the
structural flaws and maintenance problems that may creep up on you will help you make a
more informed decision about the value of the home you plan to buy and any future costs.
Some buyers will
pay to have a property inspected even before they put in an offer. This way, if they
decide they want the house, they can come in with an unconditional offer. But at an
average cost between $200 - $400 for a home inspection, this can get expensive.
During an
inspection, the home will be thoroughly evaluated from top to bottom. All major
systems such as plumbing, heating, insulation, electrical and structures, such as the
roof, walls, ceilings, floors windows and doors, will be inspected and examined.
An inspection
generally lasts about three hours. It will not tell you the condition of every
single component of the home, but will focus on determining potentially large expenses and
safety-related concerns. Most inspectors don’t mind if the prospective buyer
tags along. So, this is also a great opportunity to learn about any major problems
first hand and find out ways to keep your future property in good condition.
Following the
examination and evaluation, the prospective buyer will be provided with a written report
which covers possible defects and areas of concern, as well as estimated costs for any
repairs. The report may also note some of the positive features of the home and
recommend ways to keep it in good condition.
Interview a
number of home inspectors or inspection companies before you begin house hunting so you
know who to call when you need them. Find out how long they’ve been in
business. Ask for references and proof of membership in professional associations,
what the inspection will cover, the cost and if there is any guarantee. The cost of
an inspection usually varies depending on factors such as size, age and location of a
home.
Just because a
home was recently built doesn’t mean that it is free of flaws. The quality of
construction can vary from builder to builder and sometimes mistakes do happen. Even
if the home you want to buy is still under warranty, it pays to have an inspector find the
problems before you move in.
Inspecting a home
is no different than having a mechanic inspect a used vehicle. If it makes sense to
check out a car, it makes sense to check out a house worth many times more.
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