It’s easy to get carried away with the excitement of buying a new home and forget to decide to have a home inspection shortly after you’re under contract.
Home inspections are an essential part of the home-buying process, saving you a lot of time and money in the long run. Remember that a home inspection is not the same thing. Appraisals won’t give you a detailed insight into a property that can help uncover serious problems and potential dangers. Here are Seven good reasons to do a Burlington home inspection service before buying:
1. Don’t judge a house by its facade
Especially for those buying new construction, a home inspection can seem like a waste of money. No matter how old the home is, costly issues may be unknown to the average homebuyer. Wiring, plumbing, or structural problems may not be visible during a visit, and you’ll want to get an expert opinion. Even before you enter, you can do your pre-inspection. Just walk outside your home and look for these four potential problems.
2. Save money
Home inspection costs vary, but a good rule of thumb would be to expect to pay between $300 and $500, depending on the size and age of the home. While that may sound like a lot of money, think of it this way: Those who skip a home inspection may realize within a few years that one review is cheaper than rewiring the entire house.
One of the benefits of having a home inspection before buying is the power it can give you to negotiate a lower price. If a home you’re interested in is at the higher end of your price range, the information gleaned during a home inspection can give you the bargaining power to lower the price. You can also put the language into a purchase agreement that allows you to withdraw from a deal if the inspection turns up problems.
4. Seller repairs
Not only can you negotiate a lower price, but many buyers include clauses in their contracts requiring the seller to make necessary repairs before exchanging any money. If the seller isn’t willing to complete the repairs, calculate the cost and ask them to subtract that amount from the total. Solid data on the quality and condition of your home can give you valuable bargaining power.
Please note that seller repairs cannot be included in seller concessions. Home Sweet Home Inspection guidelines allow the value of seller concessions to be 4% of the sale price, but that 4% is added to negotiated repairs.
5. Offers you an “out.”
It is not uncommon for buyers to have contractual contingencies in their offer, with a home inspection contingency being one of the most frequent. This allows buyers to withdraw from a home listing if something unexpected happens during the home inspection. For example, let’s say there’s a lot of work to be done on the electrical system in the house. Some buyers would be OK with fixing these issues, while others would rather walk away. Contractual contingencies protect you from ending up with a property that requires a lot of work.
6. You may need it for insurance
It’s common for home insurance companies to request inspections to make sure certain problems don’t exist.
7. Know what you are buying
Ultimately, the most important reason to do a pre-closing home inspection is to know what you’re buying. Research your potential home as you would any other major purchase. The more you know, the fewer surprises there will be along the way. Home inspectors can help you decide based on your current budget and your future investment of time and money.
Home sweet home inspection specializing in comprehensive home inspections. We offer one of the most thorough exams in the industry and a helpful and friendly Burlington home inspection service. You have my word that no other service company will provide you with better service than we guarantee for all our inspections. Visit our website for a free guide on how to find a qualified home inspector.