The Importance of Home Inspections
Inspections are a key part of the home-buying process. They provide a clear picture of the property’s health, from its foundation to its roof. By identifying potential problems upfront, you can avoid costly surprises down the line and make informed decisions about whether the asking price reflects a house’s true value.
Armed with the knowledge a home inspection provides, you can negotiate repairs, adjust your offer accordingly or confidently move forward with your purchase. Let’s take a look at what the inspection process typically entails, why it’s crucial for you as a homeowner and what steps to take afterward.
What Is a Home Inspection?
A home inspection is essentially a safety net for buyers. It’s a detailed examination of a property to uncover any issues that could impact its value or safety. Inspectors typically perform these assessments on homes that are in the process of being sold, but you can get a home inspection at any time. The results can inform you about risks or damage affecting the home’s overall value.
What Do Home Inspectors Look At?
Every inspector might have a slightly different checklist of things to look for when viewing a property. However, a few things are standard, like the health of your foundation, plumbing, electrical wiring, HVAC system, roof and other structural elements (support beams, columns and more).
Other things you may see in a report are signs of mold, water damage, pest infestations, asbestos and poor soil grading.
When Does a Home Inspection Happen?
When buying a home, the buyer typically pays for an inspection after the seller accepts their offer and before both parties agree to a final deal. If you already own a home and didn’t get an assessment beforehand, getting one now is still helpful to catch any potential damage.
5 Reasons Why a Home Inspection Is Important
While essential for protecting your investment, a home inspection offers far more than just a checklist of problems. Inspectors empower homeowners with valuable insights by providing an in-depth assessment of a property’s condition. Here are some of the most common advantages you gain from the process.
#1: Safety
Health and safety are the most significant considerations in any home. Assessments can help you see problems before they get too bad, keeping you protected in the long run.
#2: Finding True Value
Maintaining and repairing your home is a normal part of homeownership. Naturally, you want to move into a house that doesn’t require extensive repairs upfront. A home inspector can help by identifying any issues that may need attention, allowing you to determine the overall value and decide if the home is worth the investment.
#3: Negotiation
The results of your inspection can greatly influence the negotiation process when buying a home. You may request that the seller complete necessary repairs before closing or use the findings to negotiate a lower purchase price if you prefer to handle the repairs yourself.
#4: Mortgage or Insurance
Most mortgage agreements and insurance policies require meeting certain criteria before acceptance. An inspection can help in both processes by identifying risks and protecting you in the future.
#5: Peace of Mind
Lastly, an inspection can simply give you peace of mind. Buying a house is a big moment in life, so it makes sense to want assurance that you’re making the right call. An assessment will let you know exactly what you’re buying and allow you to walk away or confidently continue the home-buying process.
What To Do After an Inspection
Now‘s the time to review the assessment results and arrange your next steps. Your realtor or other trusted advisors can guide you on how to proceed and plan for any contracting needs before signing. It’s best to handle repairs before moving in, so this is your chance to get started early.
Did Your Inspection Reveal Foundation Issues?
If your inspection shows foundation issues, our experts are ready to help. Schedule a free evaluation with our team and we’ll let you know exactly what’s needed to make your home safe and ready for you to move in.