WHY IS A HOME INSPECTION IMPORTANT?

A home inspection is of great importance because it allows the buyer to identify the structural integrity and cosmetic value of the property. It is a crucial deciding factor in the final buying decision, and it can make or break the negotiations. It allows the buyer and seller to establish the actual value and structural deficiencies of the property, which leaves behind room for negotiations.

Either the buyer can negotiate with the seller to perform certain repairs, or discontinue the purchase. The seller, in turn, can either accept the buyer’s offer to provide repairs, or he/she can discontinue and relist the house.

A house has many, many components and many of them just aren’t visible to the casual looker, and even those that are visible may have issues that the casual looker can’t recognize. Home inspectors are trained professionals who will look over every component of a home from the roof to the basement and everything in between. They will test electrical systems, water pressure, look for leaks, and cracks, and anything else they find along the way. Depending on the size of the property it isn’t unusual for an inspector to spend 2-3 hours going over a house in minute detail. In addition to possibly discovering repairs needed on the home, which can range from very small to very major, an inspector can also help the buyer understand what to plan for as upgrades in the future and just help educate the buyer on how the home is put together. An inspection can save a buyer thousands of dollars, and give them peace of mind.

Why is it Necessary?

The importance of a quality home inspection is immense as it reveals crucial information about the actual condition of the property, its electric wiring, sewage system and more. It allows the buyer to calculate the costs of immediate repairs and maintenance, and the long-term upkeep expenses.

It may seem like an unnecessary cost when added to the bills of attorney fees, property taxes, and other closing costs. We strongly advise buyers and sellers to hire licensed home inspector. The inspector can be trusted, but it is important to verify the findings by a licensed professional. Some inspectors also work as contractors, and seek to sell you their repair services.

The inspection report provides a detailed overview of all the elements and systems of the house that are damaged or require repairs. This presents the buyer with once last chance to evaluate the condition of the house and back away from the offer.

The seller and buyer can deliberate over the costs of repairs and come to a negotiation. The buyer can even demand reductions in the overall price, and if the repairs are overwhelming and the seller is eager to sell off, a compromise can be reached.

Safety & Protection

A home inspection is an essential stage on the home buying checklist as it not only protects your investment. But more importantly, it allows you identify safety hazards, such as carbon monoxide, radon, mold and mildew, and structural defects. It also identifies risks of fire hazards, electric safety issues and more. It is important to detect such safety hazards before you have processed the payment.

The home inspection checklist also includes any illegal installations or renovations conducted without obtaining a legal permit or following the regulations. Illegal installations and additional rooms tend to have an impact on the overall home value, taxes and other payments. The buyer should avoid investing in any illegal installations as they give birth to scores of financial and legal problems.

Protect your Investment

If you are investing in a foreclosed or ‘as-is’ house, or the seller is eager to close the deal, home inspection is of even greater importance. It allows you to identify any aggravated mold issues, safety hazards, and structural defects that may lead to health concerns or major damages.

The home inspection checklist includes plumbing lines and systems, electric wiring, cosmetic details, structural aspects and even outdoor compressors. The inspection report becomes a powerful tool for negotiation as it allows the buyer an opportunity to demand concessions from the seller.

The buyer can request the seller to reduce the price, or perform the necessary repairs. It is important to discuss your strategy with your real estate agent to negotiate a deal that protects your financial health and investment.

Forecasting for the Future

The importance of a home inspection is unprecedented as it is an essential educational resource that allows you to examine the value of the property, and forecast your future expenses. It presents an opportunity to examine all the major features and systems of the house. These include electricity, water heaters, cooling systems, plumbing and more.

It also identifies the structural problems with the architectural makeup of the house. All these findings allow you to estimate the shelf-life of the property, and the costs you will incur in the long-run for its upkeep and maintenance. Identifying the repair and maintenance needs is crucial for budgeting and mapping out your expenses. You also need to understand these issues in order to choose the right home insurance coverage plan and other warranties.

A home inspection is of immense importance as it aids buyers in deciding the additional funds and upkeep efforts the house requires. They can decide if the house is a condition that is acceptable to them and whether the repair needs fall within their renovation budget. Many buyers tend to buy cheaper houses that require repairs, and perform renovations to shape the house to their décor preferences.

However, many buyers are not willing to repair major structural defects, mold hazards, cracked ceilings and walls, amongst others.

Making a Decision

A home inspection checklist and report allows a buyer to make a decision that safeguards his/her investment and financial health. It allows the buyer to make decisions in light of facts and figures, and establish the advantages and disadvantages of proceeding with the investment. A home inspection report reveals crucial details about the lifespan, structural health and investment value of the house.

This educational resource not only serves the purpose of aiding in making a valuable investment. But more importantly, it allows the buyer to estimate his/her present and future financial costs. The importance of a home inspection simply cannot be denied because it clarifies the bigger picture and the ground realities.

Many buyers and couples tend to fall in love with old Victorian houses and idyllic properties, often just due to the wallpaper in the living room and the countryside kitchen. But a home inspection allows them to identify the issues that they cannot see on the surface. A home that is combatting issues like plumbing defects or mold can turn into a financial nightmare.

The home inspection report is a vital document that preserves the longevity and structural integrity of the house, should the buyer decide to proceed with the investment. It presents insightful resource into whether the property in question is worth buying or not, and we strongly advise buyers and sellers to prioritize hiring licensed home inspectors.

Outline

The importance of a home inspection in making buying decisions and forecasting present and future expenses with regards to upkeep and maintenance.

The home inspection report is a powerful negotiation tool that allows the buyer to secure discounts, or other concessions from the seller.

Why a home inspection cannot be overruled? It is the only opportunity for the buyer to understand the actual value and structural condition of the house.