What is a home inspection? Although not required, a good home inspector will save you big money long term. You are looking for an inspector who can analyze the home's strengths and repairs/ deferred maintenance.
In a competitive market, it is common to see homebuyers waive inspections in hope of making their offer look more attractive to the seller. You would benefit from having an inspection if you have not had an inspection completed. The inspection provides you information as an informed buyer to make a decision based on evidence.
1. Pre Inspection
After your property is under contract, it is typical to have 7-10 days to call an inspector and set a time for them to inspect your property. Depending on your area, home style, and size, a home inspection will cost you between $300-$850. Depending on the size and condition of your home, it can take between 2-4 hours. It could be challenging to find an inspector on short notice and there are plenty to chose from. During the inspection, ask questions since they can provide a wealth of knowledge.
2. At the inspection
The inspector’s job is to point out conditions that are in need of repairs or at the end of useful life. They are not concerned with the cosmetics of the home. It is not required to attend the home inspection, but your best plan is to attend the home inspection. They will show you what is important and what’s a minimal problem. Keep in mind, no house is perfect and the inspection will show faults.
Most of the inspection is visual. Inspectors do not go behind walls or under flooring.
The inspection is broken down in multiple parts. While completing the inspection, they will be taking countless pictures and well as notes. Each inspector has a system when inspecting a property. They could start outside and look at the exterior, roof, chimney, windows, doors, decks, and garage. Next, the inside of the property includes: kitchen, bathroom, bedrooms, attics, electrical, plumbing, and basement.
3. Post Inspection
Any house has problems or will have problems in the future so don’t be concerned when you read the inspection report and it is between thirty and sixty pages. If it is an older property, take a look at the age of the major systems. Understand over time you will be replacing these big ticket items in the future.
After the inspection, you can use the home inspection to decide if the home is in a condition you like, or can re negotiate the deal. You could ask for a price reduction or a list of repairs you would like done. You could also ask for a credit at closing.
Final Thoughts
Money may be tight at closing but, there are numerous benefits for a home inspection. Hopefully, you can now see why an inspection can be beneficial when you are purchasing your home.
Comments(3)