Part of the process of selling or buying a home is the home inspection. However, many people do not understand the purpose of the home inspection. So let's look at what it is not and what it should be whether you are a seller, a buyer or simply a homeowner.
As a buyer the home inspection is not a way to get the house at a cheaper price although negotiations may take place on what is discovered this is not the intent. The purpose of the inspection is to reveal the condition of the home, the major parts and systems within the home when you buy it. Now you may discover some issues that you were unaware of when you viewed the home and this may impact your decision to purchase or not. An older home is going to generally reveal more defects than a brand new home, although this is not always the case. For someone who likes older homes the report detailing the numerous defects may not faze them, but a first time buyer may feel overwhelmed that there are so many things minor and major that need attention and decide the home is not for them. As an aside here, just because you are buying new construction does not negate having a home inspection. In fact it may be well worth the cost to have an inspector make sure the home is contructed correctly during the building process. I have heard several instances where windows have been installed incorrectly, or framing is wrong. So do not presume that just because your are buying new construction you can skip a home inspection, put it into the contract.
Many home buyers use the home inspection to get the seller to fix everything. I usually suggest that the buyer concentrate on major items rather than sending the seller an enormous list of things to be put right. Now you may include some small things which you are willing to give up in negotiation but be careful, those may the only things your seller is willing to attend to and you are still left with major issues un-resolved. All of this is also dependent on how much you can do yourself, how much time you have to attend to these issues and also how long you are going to own the home.
An inspection is not insurance, you can get a home warranty to cover the systems within the home for a very reasonable price, and any good realtor will suggest this as they are well worth the investment. Unless the home inspector has been terribly negligent you will have a hard time collecting from him if some issue arises due to the disclaimers and contract you sign.
As a home seller it is well worth having an inspection before you place your home on the market so you know the condition of your home prior to sale and negotiations. It will allow you to correctly complete the Sellers Property Disclosure Form and can be made a part of the disclosure. Carrying out a termite and radon test allows you to take corrective measures if needed and know the result and not worry what might turn up and derail the sale of your home. Now I have found every home inspector will find some different issues, if you have three inspectors each will find some different things to point out. So be aware that just because you have had an inspection carried out and you make it available to the buyer they may still want to have their own inspection as well. Most good agents will even suggest this for several reasons. For the reason above that a second set of eyes going over the home will reveal something not seen already and to protect the buyer legally as the inspection you carried out as seller does not protect them. But a benefit of having your own inspection is that it provides some assurance to the buyer that you are a concerned home owner and may help the home to sell more quickly.
As a homeowner it is well worth having an inspection carried out whilst you own a home. Over time different issues arise and the home inspection will allow you to know where you should budget your money for repairs. Can that roof wait or do we need to attend to it before the winter? Maybe the heating and A/C systems would save you money by updating them, if you intend to stay in the house, or even if you are selling will the investment be a worthwhile return.
You should always be at the inspection and follow the inspector round and ask questions, it is your inspection. If you do not know how a system in the house works, ask. A good inspector will also provide helpful maintenance suggestions as well. How long will the inspection take? Obviously this varies depending on the size of the home, but you should allow 2-3 hours at least. Also make sure the inspector you are using will issue you an easy to understand report, preferably with photos as this is something to refer back to if an issue arises later. Many home inspectors will also give an estimate for work that needs to be carried out which gives you a guideline when getting quotes from contractors.
So to summarize a home inspection merely shows the condition of a home at the time of the inspection. It is not a pass or fail, but simply a report that allows you to address issues depending on their degree of urgency. It is not a report on whether a home is up to code, although the inspector may make comments on this during the inspection. It is worth having an inspection done if you have lived in your home for some time.
If you have any questions or need a list of reliable home inspectors feel free to contact me at Nick@VandekarTeam.com. We will also be having a seminar with a home inspector on a regular basis and if you would like to attend please let me know.
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