Whether you are buying a brand new house or an older home, the importance of a home inspection cannot be understated. In any case, buying a home is a huge investment requires careful thought before parting with your money.
A home inspection seeks to evaluate the structure and overall condition of the house before you make the purchase. It entails examining components such as the roof, basement, foundation, structure, plumbing, insulation, drainage and electrical systems, among other crucial elements.
Unfortunately, a large percentage of homebuyers never bother to inspect the homes they intend to buy, especially if the property is new. As a result, they end up with costly repairs, as they have to contend with leaking roofs, broken pipes, flooded basements and undermined structures soon after closing the deal.
Knowing what you are getting into is crucial during a home purchase. With this in mind, enlisting reliable home inspectors should always be your first port of call. Here are some of the reasons why home inspections are important in real estate transactions:
Safety
Your safety and that of your family is paramount when moving to a new house. Considering this, performing a home inspection can help discern all the issues that may compromise your safety once you move into the new house.
The inspection will search for issues such as faulty wiring, structural problems and mechanical faults. It will also check on safety issues such as asbestos and carbon dioxide to prevent your household from exposure to harmful chemicals.
Negotiating tool
Home inspections are great for negotiating the price of the property, but only if the process unearths various problems and issues. For instance, if the home inspector discovers a crack in the foundation of the building, you may request the seller to pay for the repair costs or lower the selling price for you to cover the cost of fixing the crack.
Contingency costs
Buying a home or a piece of property is a pricey investment. For this reason, it is important to understand all the costs involved in order to make an informed purchase decision. Considering this, performing a home inspection will give you a clear understanding of any future costs you may incur in terms of repairs and upgrades. This is particularly important when buying an older home, as it means you will have to set money aside to deal with roof replacements and other structural renovations.
Bottom Line
It is hard to imagine any problems with your new house when making a home purchase. All the emotions and excitement can get the better of you, subsequently deceiving you into skipping the home inspection process. Moreover, some homebuyers forgo this process hoping to save time and money.
Nevertheless, avoiding a home inspection is one of the biggest mistakes you could ever make. Even though the process is not mandatory, a home inspection can go a long way to unearth some issues that were previously unseen, and save you a ton of money in costly repairs.