A home inspection might just seem like extra paperwork and extra money spent. But after you have made that buying offer, and are in the final stages your going to want to book one. You might be tempted to skip it because after all, you want to save as much as you can - but don’t.
Here is why.
Here is why.
Safety
A home inspection will be able to detect any safety issues that you aren’t aware of. They will check for carbon monoxide leaks, mould, dirt, wood rot, and so much more than could be a hazard to you and your family. Make sure that your home-buying contract states that should anything be found you can cancel the offer or lower the price to accommodate for the costs of fixing. Solex Group professional home inspection says “As a result of our findings, many of our clients have saved thousands by renegotiating the asking price, while others have avoided purchasing a “money pit”.” Which is nothing to ignore?
Legal things
Some homeowners add installations and additions without the proper permission. A home inspection will reveal any of these things. If the house has any illegal additions, it means that your insurance will be affected, if you have the information straight away, you can choose to opt-out of the purchase. Technically you will be buying something that doesn’t really exist on paper.
Negotiation
The inspection gives you the opportunity to ask more in-depth questions about the property in question. You will be able to get quotes for the things that need a repair if you wish to do so, and you can check to see if there is a regulation that you need to stick to. You can also use this as a means to negotiate on price if you want to.
Future Cost
If you know what is great on the property, but also what is nearing the end of its life you will be able to figure out roughly when you are going to incur any high costs. Allowing you to factor it into your future budgeting and put money aside, ready for it. Some systems in the home are critical like the heating, the water systems and electricals. The home inspector will be able to tell you what condition they are in - great for forward planning.
Deal Breakers
There are some things that people either can’t afford or don’t wish to cover the cost of. If you have an idea of those things in advance, then when the inspection comes up, you can make an informed decision on whether the deal breaker really is a deal-breaker.
Insurance
If certain conditions are found, an insurance group may refuse to insure you. If you skip the inspection but then are later found to have had this issue all along, you might be liable for the cost of cancelling the insurance.
It is on your shoulders for you to understand as much about what you are buying as possible. If you skip the inspection, you might just find you are landed with a massive bill within weeks of moving that force you to sell up and make a loss.
I wish we would have had an inspection done on our newly built home. We are running into problems now and our year is up. Thank you for sharing this great information
ReplyDeleteThis is a great article! I think everyone should have a home inspection.
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