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  4.  » The Weekly Pulse – Do You Really Need a Home Inspection?

Greetings! Today we’ll be covering the topic of Home Inspection, specifically what it entails and whether it is really necessary. When it comes to searching for a new home, it is very easy to get swept up in the excitement of the search. However, as previously cautioned, there are multiple key points in the transaction/process that must not be overlooked; chief among them being the decision to have a home inspection. Home inspections are a vital part of the homebuying process and can save you a lot of time and money in the long run.

It is normal for a homebuyer to want to skip a home inspection during the homebuying process, especially now during this surge of home buying. Some are afraid it could delay the sale, while others worry about possibly offending the seller. The price of an inspection is also a factor. As legal experts with over 25 years of experience, we affirm that the time and money you spend on a home inspection is worth the investment! A home inspection can catch and identify potential problems before you purchase the home. You can be at ease knowing you likely won’t face these significant problems or major repairs now or in the near future. It also gives you options such as the ability to negotiate purchase price and cost. Always ask for the contract of sale to include a contingency surrounding the outcome of the inspection.

Before we list the reasons why you need a home inspection, we would like to share with you what exactly is a home inspection, how much does a home inspection cost, and what to expect from the home inspection report. 

A home inspection is a thorough and objective examination of your potential home to ensure that it is safe, durable, and livable. A home inspection typically takes around 2 or 3 hours, depending on the size of the home. The inspector looks through every sphere and sector of the house, checking both the exterior and interior. They examine the basic structure of the home plus its mechanical systems. The ultimate goal is to make sure everything is sound and working as it should. A home inspection cost can vary greatly, depending on the size of the property and how much work is required. Other factors include the age and condition of the structure and whether the unit has its own HVAC system. 

Here are a few reasons of why you should consider having a home inspection conducted:

  • To Ensure That You Don’t Waste Substantial Amounts of Money
    • A home purchase is a huge investment which should not be taken lightly. Although a home may look perfect at first glance, it could be masking a number of underlying issues. This is one of the many reasons that you need a home inspection. An inspection will catch trouble spots, inform you of the amount of money that you would need to put into the home after it’s purchased in order to properly address the issues. Should your inspector find a problem with your prospective home, you will have two options: (1) negotiate the purchase down to a lower price, or (2) Look for a different home entirely. Either way, you’ll be able to maintain your financial footing.

  • Don’t Judge a Home by Its Facade
      • Prospective home buyers often make the mistake of foregoing a home inspection, considering it a waste of money, when buying a newer constructed home; nothing could be further from the truth. No matter the age of the home, there can be costly troubles with any construction including issues with the wiring, plumbing, or structural issues not visible during a showing. Even before you can do your own preliminary inspection, we recommend you walk around the home’s exterior, ask questions and observe.
  • To Know What You’re Up Against
      • Some homes are move-in ready, but most homes require some form of repair, some more extensive than others. It is reassuring to know what you’re up against and can start budgeting accordingly.

  • To Discover Any Safety Hazards
      • Old homes can incur a great deal of deterioration. Over time, this deterioration can create a variety of different safety hazards. While some of these hazards will be obvious to even the untrained eye, many of those (such as lead paint) will not. This is yet another reason why a home inspection is necessary to assist you in catching potential safety hazards.

  • Negotiate
      • One of the advantages of having a home inspection performed before you purchase is the leveraging power it can create to negotiate a lower price. If a home you’re really interested in is on the edge of your price range, information gathered during the home inspection may give you the bargaining power to talk down the price. You may also insert language into a purchase agreement that allows you to back out of an agreement if the inspection turns up problems.

  • Know What You’re Buying
    • In the end the most important reason to have a home inspection before you buy is to really know what you’re buying. Research your potential home like you would any other major purchase. The more you know, the fewer surprises there will be down the road.

Your home is your biggest investment! If you’re in the market to purchase a home, it’s a good idea to get an independent inspection of the home you’re interested in buying. If you have questions about home inspections or other questions regarding real estate laws, you may want to get connected to one of our experienced real estate attorneys like us at The Law Offices of Marjory Cajoux. Our firm has over 25 years of experience in handling Estate, Immigration, Personal Injury and Real Estate matters.