If you’re purchasing a new home, be sure to order a home inspection first. A home inspection is one of the most important contract contingencies and safeguards during negotiations. It will also help you prepare to be a homeowner. Below are some reasons why homebuyers need a home inspection.
Home Inspection Contingency
Serious defects uncovered during a home inspection may result in the deal falling through if the buyer and the seller can’t agree on how to address the problem. Should the home inspection reveal a critical issue with the house, you have the opportunity to use the home inspection report as your “out”.
If the home inspector discovers some serious problems that you are unable to resolve with the seller before closing, the inspection report protects you by giving you the option to back out of the deal.
Homebuyers Need a Home Inspection for Peace of Mind
You should go into a real estate transaction with peace of mind and confidence about the property you’re purchasing. A home inspection provides assurances that the home is safe and that the main systems are in good working order. Waiving the home inspection means that you’re responsible if there’s anything wrong with the property after you close on the home.
It’s More Affordable Than Major Repairs
Home inspections are affordable and important. Depending on the size of the house, you can expect to pay somewhere between $300-$500. This is a small investment to make when you consider that it might save you tens of thousands of dollars when you find out the property has major defects.
Discover Safety Problems
Homebuyers need a home inspection because an inspector may find safety issues that you wouldn’t know about otherwise. Examples of safety issues include:
- Worn-out roofing
- Wiring issues
- Plumbing problems
- Improper insulation
- Inoperable windows
- Foundation problems
Uncover Structural Issues
Discovering structural problems is one of the top reasons to get a home inspection completed. Fixing structural damage typically costs thousands of dollars, and no homeowner wants to be surprised by this repair work after purchasing a home.
Homebuyers Need a Home Inspection for Price Negotiations
Don’t use a home inspection contingency to haggle over small defects. Some buyers try to renegotiate on problems that were obvious before the inspection. However, this only serves to annoy the seller and agents involved.
Instead, use the home inspection report to help negotiate the contract terms if major deficiencies are uncovered during the process. You might get closing costs waived or a price reduction to help cover the cost of repairs.
Now that you understand why homebuyers need a home inspection, make sure to get one scheduled. You’ll know you’re making a safe and solid investment in your family’s future.