Buying a new home is one of the biggest financial decisions one can make throughout one’s lifetime. Though it may be tempting to move in as soon as you sign on the dotted line – it can be extremely beneficial to get advice from a professional before doing so. From saving money to providing peace of mind, the advantages of getting a home inspection far outweigh the decision to go without.
To better help you make your decision, we’ve put together a list of the top 7 reasons why getting a home inspection is important to any home buyer’s journey.
- Identify unseen or unpredicted structural problems that homebuyers may have missed otherwise. When performing a home inspection, a professional will assess areas that are mostly unseen like the roof, attic, foundation, plumbing, heating, and ventilation – just to name a few. They can discover undetected structural problems or leaks that could be costly to fix if they are left ignored for too long.
- Ability to renegotiate with the seller. By identifying these major, but common problems before closing and officially moving in, homebuyers can renegotiate terms with the seller by using their home inspection as leverage. What’s more, is it can be used as a contingency in the home buying process which allows a buyer to back out of a home sale without penalty if there are defects.
- Save money. Like identifying unseen structural problems and acting as leverage in negotiations, a home inspection saves homebuyers money. Ranging between $300-500, a home inspection is often more affordable than the money spent on major repairs after the deal is already done.
- Safety. One of the biggest benefits of performing a home inspection is the safety aspect. By having a professional determine any structural, plumbing, or electrical issues – to name a few – buyers can be sure that they are taking all the proper precautions beforehand, and rest assured their new home is safe.
- Estimate maintenance costs. In addition to discovering any issues that can be worked out in negotiations, a home inspection will also provide homebuyers with an estimate of general, or future, home maintenance costs. Allowing them to be best prepared for any issues they may incur.
- Insurance. It is true that some insurance companies will not cover homes with certain conditions, which is why it is essential that home buyers perform a home inspection. This way, homebuyers can better understand if their home has any issues that may not be covered by insurance policies, sooner rather than later.
- Peace of mind. Lastly, getting a home inspection provides peace of mind for any new home buyer. It gives buyers insight into any conditions that their home may have and many manageable solutions to repairing them, or at least negotiating how to handle them so they are not left paying much more than they planned for.