Don't Skip It: Why Home Inspection Is An Important Step When Buying Real Estate

When it comes to buying real estate, it’s important to remember that the home you are purchasing is much more than just a piece of property. It is a long-term investment that requires careful consideration and due diligence. One of the most important steps in the real estate purchase process is the home inspection. This step is often overlooked, but it is essential for ensuring that the home you are buying is safe, structurally sound, and free from any major defects that could potentially cost you thousands of dollars down the line. Taking the time to have a professional home inspector look over the property will save you money, stress, and potential future headaches. Read on to learn more about why a home inspection is an important step when buying a house.

What is a Home Inspection?

A home inspection is a thorough examination of the condition of a house to determine any potential issues. During an inspection, a home inspector will walk through the house, check all major systems, and look for any defects or signs of wear and tear that may require repair. The inspector will check the roof, plumbing, electrical wiring and other systems. The inspection report will detail any areas of concern, recommendations for repairs and estimated costs.

What is Included in a Home Inspection?

There are many different types of home inspections, and each inspector will use their judgment to determine which areas of the house to check. The standard home inspection, which is recommended for most buyers, includes an inspection of the roof, siding, plumbing, heating and air conditioning (HVAC), electrical, foundation, and the interior of the house. The standard home inspection is designed to identify any major defects or issues in the house that may require immediate attention. If major issues are discovered, it may be best to walk away from the purchase and look for a different house. If the inspection uncovers minor defects, the buyer will likely have the option to have the issue corrected by the seller at their own cost.

Who Should Perform the Home Inspection?

A professional home inspector should be the one to conduct the inspection. Many buyers choose to hire the same inspector that their realtor uses, but there is no requirement to do so. However, it is always best to get a recommendation from someone who has used the inspector before and has a positive experience to share. If possible, try to talk to current clients of the inspector and find out how their experience was. Make sure that the inspector has experience inspecting the type of house you are purchasing. For example, it is unlikely that an inspector who specializes in commercial buildings will be able to thoroughly inspect a 100-year-old house.

How Much Does a Home Inspection Cost?

The cost of a home inspection will vary depending on where you live and the type of inspection you request. However, the inspection typically costs between $300-$1500. Be sure to ask your inspector if they offer any discounts for first-time clients or military veterans. The cost of the inspection is a small price to pay to ensure the house you are buying is safe.

What Happens After the Home Inspection?

The inspector will complete the inspection report, which will include any issues discovered during the inspection. You will receive the report before the closing, which will give you ample time to negotiate repairs with the seller. If you are unable to come to an agreement with the seller, you may choose to walk away from the purchase. The seller will be required to disclose all issues discovered during the inspection to the mortgage company. If the mortgage company discovers the same issues in their own inspection, they may require the seller to repair them at their own cost before closing.

Conclusion

A home inspection is a crucial step in the home buying process. This is your opportunity to thoroughly inspect the house and look for any issues that may lead to future repairs. A home inspection will also help you discover any defects that could be a deal breaker and prompt you to walk away from the purchase. Don’t skip this important step when buying real estate.