Purchasing a home is perhaps the biggest investment an individual would ever make. The process of purchasing a home for sale is both rewarding, but more often than not, it is also extremely stressful. Dealing with contract negotiations, mortgage loans, and seemingly endless paperwork can become quite overwhelming. The last thing a home buyer should need to worry about is an unforeseen problem with the actual home being purchased.
Search Realty recommends that a home buyer take the time and invest in a professional home inspection company, as they can determine if there are any major defects in regards to the house that could inevitably lead to increased costs in the future.
Home inspections aren’t a new thing. They are a smart way to ensure that the house purchased doesn’t have any major defects or flaws that could lead to future costs, which the home buyer obviously would prefer to avoid.
Unlike a home appraisal, which only provides a cursory market value for the property, a home inspection offers a detailed analysis of the home's condition. These inspections usually include an examination of heating and central air systems, plumbing and electrical systems, the roof and visible insulation, walls, ceilings, floors, windows, foundations and basements.
A home inspection can quickly assess any major defects as well as safety concerns or potential threats with the property, such as the potential for mold and asbestos. A home inspector will not only identify these issues but can also suggest courses of action. In addition, a home inspection can also identify any code violations present on the property. This type of problem is actually quite common in older homes, which were “grandfathered” in prior to changes in local building codes. It is important for the home buyer to be aware of these deficiencies and all threats, in order to make a more accurate decision on how to proceed.
A home buyer should also be aware that a home inspection isn’t just for present circumstances, but can also be used as a great tool for future planning, especially with an older home in need of upgrades. A detailed inspection can provide the home buyer with a “life expectancy” for things such as the roof, furnaces and appliances.
Once the inspection is completed and a report provided, if there are significant problems with the home, Search Realty recommends that the home buyer then negotiate with the seller to either lower the sale price of the home, or determine how the problem will be addressed and eventually fixed.
A home inspection is quite common in the real estate industry today. The majority of home purchase contracts will call out a home inspection as a contingency on the sale. However, since this contingency is not an automatic clause, Search Realty recommends that when an offer for a home is made that this contingency clause is written in.
Spending an extra few hundred dollars for a home inspection may seem like an unnecessary expense, however, Search Realty advises that the peace of mind it gives makes it worth the cost.