It’s understandable that you might find yourself so lost in the excitement of buying a new home that you forget to make the most important decision of all; having the home appraised by a professional before buying it. The home inspection is one of the most important parts of the home-buying process and it can help you to save a lot of time and money. Keep in mind that an appraisal and an inspection are two different things. Appraisals don’t offer the in-depth look into the property that an inspection can. Here are 5 reasons to get a property inspection before buying a house.
You Shouldn’t Judge a Book by its Cover
A home inspection can feel like a massive waste of money if you’re buying a property that’s recently been constructed. It doesn’t matter how old the property is, there could still be underlying problems that will cost the average buyer a lot in the long run. Problems such as faulty wiring, plumbing, and easement might not be noticeable during the showing. You need an expert to assess for these problems for you.
A home inspection can cost up to a few hundred dollars, depending on the age and size of the property. It sounds like a lot of money, but you need to consider it properly. If you don’t go through with the inspection then you could soon come to realise that the cost of an inspection was comparatively small compared to the cost of fixing the problem it would have found.
It Helps in Negotiation
A great advantage of performing a home inspection before buying a property is that it may give you the power to get the home at a lower price. If you are interested in a home that’s just outside of your price range, the information you get from the home inspection could offer you the bargaining power needed to bring the price down a little into your range. You also have the option of putting language into the contract that lets you back out of the agreement if there are problems found during the inspection.
Have the Seller Make the Repairs
Not only will you have the power to negotiate for lower prices, but buyers could include a clause in the contract that requires the seller to make the repairs before they purchase the property. If the seller won’t make the repairs, then estimate the cost of the repairs and ask them to deduct this cost from the asking price. Understanding the condition of a property gives you incredible bargaining power.
You Know what You’re Buying
Last but not least comes the important reason that a home inspection lets you know what you’re buying and getting yourself into. You must do your due diligence with a potential home, as you would with other major purchases. The more you know about the property, the fewer surprises you’ll run into later on. A home inspector helps you find a property that matches not just your current budget, but also your future investments of time and money.