A home inspection is another cost when buying a property. You might want to make your offer as competitive as possible by choosing to waive an inspection in a fast-moving market with many bidders. With so many other steps in the purchasing process, you might be wondering, “is a home inspection necessary?”
Although a home inspection is not technically required in many circumstances, this does not mean that skipping one is a good idea. Getting a thorough home inspection is one case where it is better to be safe than sorry. The joy of buying a home could be more than overshadowed six months later when you discover that you have a faulty foundation or your chimney cap is not entirely sealed. Keep reading to learn more about the value of home inspections for both buyers and sellers.
What is a Home Inspection?
Home inspections are done by home inspectors trained to examine all home parts for current or developing issues thoroughly. This includes the roof, foundation, expensive components like water heaters and furnaces, and even the major appliances. Home inspections often take place during the sale process.
But, home inspections are also beneficial after the sale to keep an eye on your home’s condition with an annual home inspection. You should also have an inspection after inclement weather such as a hurricane or a strong tropical storm. After all, it is best to catch problems when they are just beginning, rather than find out later on.
Why Get a Home Inspection?
Whether you’re buying or selling a home, a home inspection is almost non-negotiable. Here are ten reasons why you need a home inspection.
1. Buying a home is a significant investment. As a buyer, you should know precisely what you are putting your money towards, and a home inspector can let you know if you are missing anything that could cost you a lot of money down the road.
2. A home inspection can save you money. If the inspector finds problems, you may negotiate a lower asking price or request a seller’s credit to cover the repairs’ cost.
3. A seller’s inspection, also known as a pre-listing inspection, can make you aware of problems you can resolve before showing the house. This will make your listing more competitive and reduce the chance of losing potential buyers. It also takes away some of the uncertainty that comes with waiting for the buyer’s inspection report results.
4. Home inspectors look out for your interests, not those of real estate agents. There is a chance that you could get out of buying a home if any large problems come up during the inspection.
5. Home inspectors are knowledgeable about current laws and building codes. They can make both the buyer and seller aware of parts of the home that are not up to code and negotiate a resolution to the problems before the sale.
6. Some home loans require home inspections. It is a good idea for the buyer to get a home inspection before buying because it is a significant investment. Similarly, lenders want to make sure that their loans will be paid back. Significant issues with the property could create financial problems that interfere with the repayment of the loan.
7. An inspection is a chance to take a step back and refocus. It is easy to get caught up in the excitement of buying a home, especially for first-time buyers. A home inspection can be seen as a hurdle right before finalizing the purchase. However, it is also a chance for you to consider one more time if it is a sound investment and the right choice for you. If not, you can move on to another property that is better suited for your needs.
8. Home inspectors look for problems that municipal inspectors may not notice or be concerned about. Many people will say that you do not need a home inspection on a new home. Although you may think it is safe to skip a home inspection for a new home than one that has already been lived in, it is still not a good idea. In most cases, you need a home inspection on a new home, too. New dwellings do get inspected by municipal inspectors, but home inspectors usually spend more time looking at the property and might catch problems that are not necessarily code violations.
9. Year-end inspections are smart too. If your warranty is about to expire, getting another home inspection gives you a final chance to have any problems fixed without the cost coming out of your pocket. There may be problems that did not manifest themselves in the initial inspection but become evident after a year. Things could have shifted and settled that you would not notice, but an inspector would.
10. Your health and safety could be on the line. Home inspectors could notice things like signs of asbestos or animal infestation that you do not want in your new home. They can then recommend calling in an expert who can either put your mind at ease or let you know of urgent problems that need to be resolved before moving in.
Should I Get a Condo Home Inspection?
Condo home inspections might seem like a waste of money, especially with closing costs for condos being relatively high. After all, doesn’t the condo corporation take care of the building? Do I need a home inspection for a condo? It seems like home inspections are geared towards free-standing homes.
In a typical home inspection, the inspector would check building systems such as electrical, roofing, and plumbing. Condo inspections do not spend as much time on these standard systems because they are maintained by the condo corporation and are not as accessible to be inspected. A condo home inspection covers what you get when you purchase the unit, such as the appliances, heating and cooling systems within the unit, energy efficiency, and more. Like any home inspection, a condo home inspection is a good idea.
Do I Really Need a Home Inspection?
Yes! Many more than ten, there are countless reasons why a home inspection is a good idea and a smart choice for anyone purchasing a property. Look for a comprehensive home inspections that fit your schedule.
Information provided by Texas Home Inspections