After spending months looking for your dream property, it can be exciting to make the home yours as quickly as possible. With negotiations and closing paperwork still standing between you and home ownership, it can be tempting to rush forwards to speed up the process. For many, the home inspection looks like a good way to save a few days and a couple of hundred dollars. Even though it may be tempting to forgo the home inspection process, there are numerous reasons why a home inspection is important, even if the home looks pristine.
What is a home inspection?
A home inspection is a careful examination carried out by a certified professional on a home. During the inspection, they will certify that everything in the home is safe and in working condition. The typical home inspection will cover a home's structural integrity and interior systems and find any health hazards in the home. A four-point inspection is a popular option that covers the home's roofing, HVAC, electric, and plumbing.
This meticulous check ensures the home is in good condition, everything is in working order, and it attempts to anticipate any coming repairs. A qualified local home inspector will be up-to-date on local laws and check that the home is up to code, including fire safety and past additions to the property.
Afterward, you will receive a comprehensive home inspection report detailing all the findings clearly in one place. After the inspection, your inspector will create a list of recommended repairs and try to predict the future integrity of the home’s structures and systems so you know if unexpected repair costs could be coming your way in the years to come.
Common home inspection findings
Even if a home looks good to potential buyers, it can be hiding hazards only noticeable to qualified professionals. During your home inspection, all areas of the home will be assessed for safety and functionality. While not all issues are necessarily major problems, a recent study found that 86% of home buyers had a significant finding during their home inspection. Some problems are common, and having a plan in place to fix them will help move the closing process along.
Foundation problems
One of the common issues uncovered in a home inspection is problems with the foundation. While these may not always be deal-breakers, it is important to understand what is going on and what the future prognosis is for the property.
Many foundations have drainage problems due to sloping ground or poor drainage. Another common foundation problem is cracking. Cracks in a foundation will need further investigation as they can be indicative of framing problems. A cracked foundation may settle over time to affect the home’s doors and windows and lead to flooding in the basement.
Mold and mildew
The attic and basement will probably not be the most exciting part of your initial tour of the home, so you may not even notice dangers lurking in these cool, dark places. Mold and mildew can cause a musky smell in your home. Especially if this is supposed to be a family home, mold will have to be dealt with, as many types of mold have health consequences. Your inspector will be able to identify mold in the home and give you an action plan.
Poorly maintained roofing
Old shingles and leaky roofs are commonly found during a home inspection. A roof should be replaced every 15 years; however, many homeowners do not know that or decide not to fix their roof if they know they plan to put the home on the market in the coming years. In some cases, the entire roof will need to be replaced. This can be a costly repair you will want to be aware of before purchase.
The benefits of getting a home inspection
With the typical home inspection costing between $350 and $600, the potential benefits can far outweigh the cost. Getting a home inspection is about so much more than checking off something from your to-do list before closing; it is about ensuring the property is right for you.
Uncovers major and minor issues
Buying a home is a huge commitment. No one wants to be saddled with a home’s problems after the transaction. Damages, mold, and structural problems will all be uncovered during your home inspection. A completed home inspection means you will be able to walk into closing knowing what you can expect after moving into the home. After all, it is better to know there's a leak in a pipe before buying so you can plan to get it fixed ahead of time.
Project future costs
Buying a home is an investment. You want to have confidence before purchasing that you will get a good return from the property in the future. A home inspector will be able to work with you to predict future repairs the home may need. Home inspections often uncover minor issues that do not need to be dealt with right away but will need to be paid for later on. Armed with this knowledge, you will be able to budget and buy insurance accordingly.
Leverage in negotiations
No one wants to pay more than they have to when buying a home, especially if a home inspection uncovers unexpected costs. Luckily, a home inspection can help you get a lower price on the home. Many buyers are able to successfully leverage their inspection to get a better price on the house. If you have a home inspection contingency, you may be able to get the seller to pay for some repairs before closing. If, after a home inspection, the home no longer feels worth it, you can still back out.
Ensures the home is sound
No one wants to move their family into a home just to find dangerous black mold or problems with the structural integrity. A home inspection by a qualified professional is the best way to ensure the property is secure for your family and that you will get years of enjoyment out of your new home.
If you need help scheduling a home inspection or navigating the home-buying process, a qualified, local real estate agent can help. If you are looking to buy West University real estate, contact Gayle Kennedy today.
