There’s a lot that goes into buying a new property. By the time your offer goes into contract, your to-do list gets kicked into overdrive. One of the things that will get kicked is the never-ending fees associated with buying a property: attorney’s fees and realtor’s fees are just two in the lot. With this in mind, skipping your home inspection to cut back on expenses might be tempting—but don’t do it.
Yes, you need a home inspection!
Skipping your home inspection is not a wise idea, regardless of how tempting it is to do so. Purchasing a property is a big responsibility and a massive investment and you should never jeopardize your investment by going the cheap route. How would you feel if you skip the home inspection in order to put in a better offer, but then you are stuck with thousands of dollars in repairs or stuck with a property that isn’t worth your hard-earned funds?
Don’t fall in that trap.
Whether you’re buying a residential property or a commercial property, you cannot run the risk of relying on the seller to inform you of every problem with the property. A home inspection is necessary to know the details of all the systems and structures that make the whole property. This detailed outline can help you to make an informed decision based on facts. The current property owner might not know if anything is wrong with the property, so he/she will not be able to disclose the issues to you.
Though the home inspection is an integral part of finding out about a property, it will not find everything that’s wrong. Rest assured, certified home inspectors like Home Pro Inspections are thorough and will provide the highest standard of service in property inspections.
Why do I need a residential home inspection
This is a question that is asked a lot. Property inspections including residential home inspections are useful for the following main reasons:
It’s easy to throw the rules out the window when you find a property you love. It has a lovely kitchen, you’re in love with the tiles, the size of the rooms are perfect for your family’s four-poster beds, but it doesn’t matter how much you love the house. You need to pay attention to what is on the inspection report as there can be real hidden problems.
Whether you are buying a new home for your family or you are purchasing an investment property, hire a home inspector to dig deep (figuratively speaking) into the structure and systems of the property. The inspector will search the attic, crawl spaces, plumbing and electrical systems, and others that you wouldn’t even think of. You would be surprised at what you could miss when viewing with a real estate agent
Your real estate investment is not a small one, so ensuring that it’s safe for your family, tenants or guests is important. A home inspection checks for issues that might affect the safety of the property. The electrical system is one of the most important systems to inspect. A lot of fires and power outages can be prevented if electrical systems are properly set up and inspected. There are also tests to be done such as radon. Continued exposure to high radon levels can result in lung disease. Are you seeing the benefits of getting a home inspection now?
The foundation and other structural elements of the property need to be sound to make it a safe purchase. Your inspection report can identify problems with the building and though some are often minor, some might be major enough to cause you to reconsider your decision to buy. A property that is poorly built will be a nightmare on your hands.
We all know that it takes money to maintain a property. Knowing the issues with a property beforehand helps you to have a realistic expectation of how much those maintenance costs will run you. Yes, you will have wear and tear, that’s normal, but things that need to be repaired or replaced immediately will have to be factored into your budget.
Ongoing maintenance cost is dependent on the overall condition of the property, but at least you will know what you are signing up for instead of going in blindly.
If you’re one of the lucky property buyers, your inspection report will only show little to no issues with your intended property. If it shows major issues, it gives you the power to renegotiate the terms of your agreement. You can choose to lower your offer, ask the seller to fix the problems found or as the seller to contribute to the cost of replacement and repairs. If the seller is not in agreement with any of these options, you can reevaluate if it is a worthy purchase as the cost of a home is exponential.
Reveal Illegal Additions or Installations
Buying a house with illegal additions or installations is a can of worms you do not want to open. Things like altered garages or basements built without the proper permits or guidelines can land you in hot water with city officials and your insurance company. Your taxes and the overall value of the property will be affected by any illegal additions. Even new property constructions can be problematic if they weren’t built to code. This will be your problem if you purchase the property.
Peace of Mind
Technicalities and legalities aside, knowing the condition your property is in gives you peace of mind. You can make sound decisions, budget and plan for the future armed with the facts. An inspection report is more than a piece of paper, it is a piece of paper that helps you to make an informed decision and gives you peace.
What are the ramifications of not getting a property inspected
Having no knowledge of the condition of a property puts you in a blind spot as you are not able to financially and mentally prepare for the responsibilities of owning it. You might end up spending thousands of dollars in repairs and replacement costs or be stuck with a property you can’t resell. Knowledge is power and you need to arm yourself with this power by getting your property inspected.
Some insurance companies will refuse to insure a property if certain conditions are found. In the absence of certain certifications or inspections, you will have a hard time getting a property insurance. Save yourself the headache.
Schedule your Home Inspection Today!
A few hours or maximum – one day as well as the fee for the inspection can eventually save you thousands of dollars in the long run. Hire a home inspector to outline the condition of your property in detail. Whether it is for a new home construction or an old property, you need to have a realistic idea of what needs your attention and about how much of a financial investment the property will truly be.