Why a Buyer’s Home Inspection is Important: Never Skip This Critical Step
If you are about to purchase a home, you need to have a home inspection done. This critical step involves a professional inspector physically inspecting the home for any needed repairs and to see that everything in the house is properly functioning or in good condition. A buyer’s home inspection is necessary for a homebuyer.
The buyer is responsible for the home inspection and has the right to waive one, which can be a costly mistake. Here are some reasons you never want to skip a home inspection:
Unforeseen Problems: Potential Damages and Required Repairs
A buyer’s home inspection aims to uncover any potential problems or hazards within a home before purchasing. A home can look beautiful and even be remodeled but still have hidden problems. Here are some of the main things looked at by home inspectors:
- Structural problems: The buyer’s home inspection includes everything about the home, outside and in. The inspector will check the home’s foundation and other structural elements. Repairs to the actual structure of a home can get quite expensive, so you will want to know if there are issues that you can catch early.
- Leaks: An inspector looks for all leaks, from plumbing leaks to even potential gas leaks from appliances that use natural gas. The inspector will go into your attic to look for roof leaks. They will also check the basement for standing water. This can be another costly repair down the line if not caught beforehand.
- Other safety issues: Inspectors will also check for safety concerns. This can include checking the electrical system of the home. They may also test for deadly gasses like radon in the home.
- Deferred maintenance costs: The inspector will advise you on what sort of maintenance and repairs are likely to be needed shortly. This can help a buyer determine if the home is worth what they are willing to pay.
- Other minor issues: Inspectors will also note any minor deficiencies and aesthetic issues like chips in the paint.
Options After Going Into Contract
One important aspect of the buyer’s home inspection is that it provides options within your contract.
- If the inspection shows serious issues with the property, the buyer will have an opportunity to exit the contract. Depending on the contingencies in the contract, consequences may still apply, like the loss of due diligence money.
- An opportunity for re-negotiation can be leveraged after the inspection. A buyer may request that the seller replace or repair anything that is damaged or presents a hazard or future expense.
- Knowledge: Homebuyers must have a full picture of the house to make a wise decision. This can give them direction as to what needs repair. It can also give peace of mind knowing which items are in working order and how long they should be expected to last.
A buyer’s home inspection is worth the cost. The price of the inspection doesn’t compare with that of unexpected repairs. Never skip this step, as you want to be as knowledgeable about the home that you are purchasing as possible.