If you’re in the market for a new home, don’t forget to include an inspection contingency in your contract. A professional home inspection can save you a ton of aggravation, and thousands of dollars in the long run. The inspector will carefully examine the entire house, checking its systems, structure, and equipment for functionality and potential problems.
Here are 7 reasons you should never skip a home inspection:
1. It may reveal deal-breakers
A house may look fantastic, yet have major issues with wiring, roof, HVAC, plumbing, and more. A quality home inspection will give you the inside scoop. If the inspection reveals any large problems that may take heavy work or expensive repairs, you might want to back out of the deal.
2. It could bring safety concerns to light
An inspection can reveal the presence of harmful substances like radon, carbon monoxide, and mold. Look for these hazards before the house is officially yours. You don’t want any unpleasant surprises once it’s too late to back out.
3. It could help you anticipate future costly repairs
A home’s systems and equipment may appear to be working fine when they’re actually on their last legs. A professional inspector can determine the age and condition of the systems and equipment, and forecast when they’ll need to be repaired or replaced. This can help you budget for a major repair several years down the line.
4. It may reveal illegal additions
The awesome rec room you love in your potential new home might have been illegally built. An inspection will check for rooms, garages, and basements that were added or finished without following legal codes or obtaining the proper permits. Having an illegal addition in your home means owning property that does not officially exist, which can get you into big trouble with home insurance and property taxes.
If a home inspection reveals any illegal additions, you can ask the seller to obtain the proper permits, use this information as a bargaining chip, or choose to back out of the deal altogether.
5. It will help you obtain insurance more easily
Lots of home insurance companies will not insure a home if it has not undergone a certified inspection.
6. It could teach you how to protect your investment
The inspector will be an invaluable source of information for you, providing tips and knowledge on how best to maintain your home. Knowing how to properly care for your home can save you thousands of dollars over the years.
7. It may assist in your negotiation
Most home inspections will reveal problems. If they are minor enough to keep you interested in buying the house in its present condition, use them as bargaining tools and renegotiate the purchase price of the home.