So, you’ve just toured the home of your dreams, submitted your offer, and are in the beginning stages of the closing process. One of the most significant feats to consider, outside of financing logistics, is whether or not to opt for the home inspection of your new property.
Whether it’s a new build or over one hundred years old, our short answer is always: yes, get the inspection. A home inspection determines the structural safety and mechanical order of a property that can make the ultimate decision to buy or not to buy a home, so forking over a little bit of extra cash to cover your purchasing power is a must.
Unless you’re a builder or inspection expert yourself, you’re walking into a purchase blindly without a home inspection. Considering this is most likely the biggest purchase of your life, you shouldn’t cut any corners, especially if your reason to nix the home inspection is to save a few bucks or a little bit of time.
The bottom line? Getting a home inspection, although thought of as an added expense, is ultimately an investment because spending a few hundred can ultimately save you thousands or, even, change the decision you made on whether or not to purchase the property.
Here are my top 5 reasons to get a home inspection:
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Inspections save you money.
Home inspections, in nearly all cases, pay for themselves. Home inspectors work diligently to check each corner of your home for any imperfections, issues, or red flags that could change your mindset on your current offer or standing on the house as a whole. They specifically check for water leaks, roof damages, pest and insect infestations, foundation issues, or hidden safety hazards. Averaging around $500, home inspections can be a real money saver for you as the buyer. Once you have the full inspection report, you can change your offer, ask the seller to fix the issues, or decide to go a different direction on your home purchase completely. A few hundred dollars can save you a world of headaches if you allow it to.
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Purchasing power may shift over to you
After a thorough review of the inspection report, depending on the size and amount of repairs, you may be able to negotiate a lower price on the cost of the home in exchange for agreeing to take on the reporting findings and fix them yourself after purchasing the home. If you have the capital to handle the repairs, this is a great option that will save the seller time and upfront cost to make the repairs themselves. Take some time to decide what route is best for you and move forward as such. Inspection reports allow you to choose the best avenue for your money, even if that’s opting out of your purchase because of too many repair concerns.
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You don’t have to worry about unforeseen problems and repair costs.
Not knowing what repairs are required on your property at the time of purchase is scary. The last thing you want to do is move into a new home and face a bunch of big-time issues right off the bat, especially when you don’t have the extra money to get them fixed immediately. Unforeseen home problems can cause a lot of unnecessary stress. Working with a trusted home inspector who will provide you with a detailed home inspection report gives you complete transparency on the home you’re stepping into. Avoid blindsided repair costs and enjoy the home you move into with clarity you can trust through a home inspection.
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You establish a greater peace of mind.
There is no suitable replacement for solid peace of mind. Knowing all of the details of your potential home, inside and out, is worth its weight in gold when it comes to peace of mind and buying power. Don’t shy away from reviewing the full report with your home inspector and asking any questions you need to for clarification on repair needs, costs, and overall outlook. Having a crystal clear understanding of the bigger picture will help you make a sound decision on your potential home.
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You can plan properly for the future.
Understanding exactly what you need to plan for helps you lay the foundation for important life decisions and overall budgeting. Whether you decide to move forward with taking on the repairs yourself or hope to ask the sellers to cover the cost, the outcome, based on your goals, will dictate your future plans. Likewise, knowing how much money you need to budget for repairs will help you allocate precisely how much money you have left over for things such as upgrades or additions. Planning is everything, especially when it comes to your future home.
Whether you’ve found the home of your dreams and are unsure of how to navigate the home inspection process or are hoping to secure a brand new home heading into 2022, I am here to help you every step of the way. Let’s work together to make your home buying process seamless from start to finish. Contact me today to get started.
