Buying a home comes with plenty of excitement, which is understandable considering that for most of us, our homes are our most prized asset. However, amidst that euphoria, it is important to also see home buying as a long-term investment.That means you should only buy a home that’s worth every penny.
That’s where home inspections come in. A quality home inspection will help you make an informed decision about the property you’re considering buying. And finding a qualified home inspector is usually fairly easy. You can start by asking your real estate agent for recommendations. She has a vested interested in making the sale go through, but also an ethical commitment to helping you get the best possible deal.
You’ll know what you’re buying
Before a seller puts their home on the market, they usually do everything in their powers to make it exceptional and appealing to the eye. They may paint, work on the lawn, and stage everything else. Yet, beyond that nice coat of paint, there could be large cracks and a weak, old wall. It is only through a home inspection that you can learn about these hidden issues, especially those that affect the structural quality of the home.
You’ll have the ability to negotiate the purchase price
Another major advantage of having a home inspected before you buy is the power it gives you to negotiate a lower price. After an inspection is completed the inspector will provide you with a report of the findings. A wise buyer can use this report to determine whether there are issues with the home. If there are, you can ask for a lower price, letting the seller know that you’ll need to spend a lot of money to make repairs.
You can make your offer contingent on the seller making needed repairs
Other than demanding a lower price, a home inspection gives you the power to ask for seller repairs before you commit buy. If the basement has cracks, you can ask the seller to fix that before you pay. If some appliances are too old, you can ask for them to be replaced. If the seller is unwilling to make these repairs and replacements, simply walk away from the deal.
You’ll save money
A typical home inspection costs 300$ to 500$ depending on the size and age of the home. That’s a lot of money, yes. But keep in mind that the same home inspection can uncover structural problems that may cost tens of thousands to fix. Things like water leakage in the basement, if not uncovered early, can cost you a fortune to repair. The same applies to foundation issues and obsolete appliances. It makes a lot more sense to pay the $300 and avoid these potential disasters.