5 Reasons to Get a Home Inspection

As a smart buyer you should know that “keeping the end in mind” is the rule if you’re considering saving on the few hundred dollars it will costs upfront to order a licensed inspection on the home you’re considering buying. Here are some valuable reasons for you to get that inspection when you’re under contract: 

Health and Safety
Just as when you get the flu and only experience the symptoms of the illness, many health and safety issues present in a home can’t be seen with the naked eye to normal consumers. Inspectors are trained to identify symptoms and perform deeper tests to identify possible contaminants in the home that can have serious ongoing effects on you and your family’s health. Contaminants like mold, carbon monoxide, radon, pseudoephedrine (present in meth labs), and termites can all contribute to potentially serious or life threatening consequences. An inspector will also identify and report safety issues like hazardous or broken wiring and structural issues,  

Know what you’re Buying
Just as you look under the hood or take that car on the sales lot for a test drive prior to purchasing, you’ll want to be an educated and informed buyer on the home you’re purchasing. Whether it’s a brand new spec home or an older remodel, only a detailed inspection report will provide you the answers to what might lie beneath those beautiful crown moldings and cherry wood floors. An inspection on new construction can identify defects in workmanship such as HVAC and plumbing issues, damage that may have occurred to newly installed windows or hardware, poor quality installation or materials and even water damage or leaks that occurred throughout the construction of the home. These items, once identified, should be addressed with the builder and only a deep inspection will identify these items; municipal inspectors only check for compliance, not quality control issues.

Ongoing Costs
Being aware of existing issues with the property will give you a better idea for the ongoing costs of maintenance and repairs. For example if you know the home has less-than-standard insulation, it will probably result in higher utility costs down the road. You’ll also be in a better position to estimate the costs of having to replace faulty plumbing or an old furnace, items which you’re likely to overlook if you’re relying merely on a standard walkthrough of the property.

Seller Negotiation
A home inspection is one of the strongest and most strategic tools a buyer can have throughout the purchase process, and the repair of some or all of the issues may even be required for a lender to approve the purchase financing, such as in the case of VA and FHA loans. No matter the financing product you choose however, smart buyers will use the results of the inspection to either negotiate a lower purchase price or agree with the seller on repairs or replacements to the issues at hand.

Resale
Whether you own the home for a year or fifteen, you own what you’ve purchased. Issues that weren’t identified due to lack of a home inspection at the time of your purchase will most likely be brought up with a new buyer, and in the end you’ll be responsible to address those issues, which can be costly to you as the Seller.

As your loan professional at People’s Mortgage, I can help you with this invaluable tool in your home purchase by recommending a qualified, licensed home inspector. Call me today to help you get started!