Home Inspections Explained
Buying a new home is an exciting experience and probably one of – if not the – biggest investments you will make in your lifetime. While the prospect of getting a new home is great, the actual process can be more than a little daunting. Part of the reason for this uncertainty is because there are a lot of unknowns that go along with purchasing a new home. Thankfully, a good home inspection can clear up some of the muddy waters.
Why Get a Home Inspection
Some homeowners question the need for a home inspection or try to avoid the extra cost associated with them. A typical home inspection costs under a thousand dollars and, in the grand scheme of things, is a small price to pay for its many benefits. If you have any questions about why you should get one (or if you really need one), the following paragraphs should convince you of their importance.
For starters, most lenders, banks, and mortgage brokers require you to get a house inspected prior to lending you the money to purchase it. This is for your protection, as much as theirs. In the unfortunate event that you default on your mortgage or are unable to pay, they need to know that there are no major issues with the home if they need to sell it elsewhere after a foreclosure.
On a more personal level, a good home inspection – conducted by a well-vetted home inspector – can bring you a great deal of peace of mind. Homes – new and old – can have hidden issues that can cause you and your family a major headache, not to mention thousands of dollars. Knowing what you are getting into prior to purchasing your home can give you a leg up during negotiations and let you prepare for any repairs the current homeowner does not fix as part of renegotiations.
Another area many homeowners often do not think about when it comes to real estate inspections is safety. Poor wiring and issues with structural integrity are only two items on a long list of potential safety hazards that a good home inspector can catch before they turn into a tragedy. Not so immediate safety threats, such as festering mold or leaky pipes that eventually could lead to mold and mildew, also exist.
Perhaps not as “friendly” as the other reasons on our list, another benefit to a home inspection is the fact that it can help you negotiate on the purchase price, as any problems that are uncovered will provide you leverage. If the seller refuses to fix the issues, you can counter by having them lower the price of the home. Just make sure the new, adjusted price is in line with the future cost (and hassles) of the needed repairs.
Finally, you may find yourself questioning whether or not your new prospective house is right for you and your family or whether you should stay put for a while – or maybe even just renovate your current home so it suits your needs. Whatever the case, a home inspection report will help you make one of the most important decisions in your life – good, bad, or indifferent.
If you have any questions about home inspections or are debating whether or not to renovate or remodel your home to make it fit your family’s needs, why not give Tracy Tesmer Design/Remodeling a call? We can help make your house a home!