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Top Reasons To Have A Home Inspection When Buying A Home

Top Reasons To Have A HomeInspection When Buying A Home

When buying a home, you have the rightto complete many different types ofinspections of the potential home you’repurchasing. A home inspection isactually one of the most commoncontract contingencies from homebuyer’s. Whether you have purchasedfive homes or you’re going to buyingyour first home, a home inspection inalmost every case, is highlyrecommended.

Why is the home inspection contingencyone of the most commonly seen andalso highly recommended? There areactually many reasons why the homeinspection contingency is one of themost commonly seen contingencies inpurchase and sale contracts in realestate and also why having a homeinspection is highly recommended.

So, what are the reasons why youshould have a home inspection whenbuying a home? Here are many of thetop reasons to have a home inspectionwhen buying a home.

Peace Of Mind

A home is one of the largest purchasesand investments that is purchased inanyone’s lifetime. The costs associatedwith buying a home are not cheap byany stretch of the imagination. One ofthe most important reasons to have ahome inspection when buying a home is the peace of mind that it can provide.

The primary purpose of a home inspection is to make sure the home is for the most part a very solid and safe home. By waiving the opportunity to have a home inspection, you may actually be creating additional and unnecessaryanxiety and stress. By performing a home inspection, you will have the added peace of mind that you’re purchasinga very solid and safe home.

Relatively Inexpensive

Another reason to have a home inspection when buying a home is that it doesn’t cost a lot of money. Most homeinspections will range between $300-$600 depending on the size of the home. Since buying a home is such a largeinvestment, the small amount of money it costs for a home inspection should help make the decision easy to have aninspection, even if you feel extremely comfortable with the home you’re purchasing.

Buyer’s who decide to waive their right to having a home inspection often regret in the future about not spending thefew hundred dollars it costs to hire a home inspector. The most common circumstance when a buyer waives the rightto having a home inspection is when there are multiple offers on a home. If there is a multiple offer situation wherethe two offers are fairly similar and one of the offers is not contingent on having a home inspection, a seller is likely toselect the offer with no home inspection contingency.

Uncover Safety Issues

The home inspection is the opportunity to thoroughly investigate the home you’re potentially going to be purchasing. It’s important to understand that a quality home inspector will find some issues with every home, even a newly builthome. Some of the issues that are found may not be a big deal while some maybe serious safety issues.

Some issues that are discovered during a home inspection are actually quite common. Issues such as improperelectrical wiring, worn roofing, inoperable windows, and plumbing deficiencies are just a few of the most commonlyfound home inspection issues. The purpose of a home inspection is not to make sure that every last thing in a homeis perfect to your liking, however, it’s important that the home inspection determines the home has no glaring safetyissues.

Discovering Pest & Insect Problems Is A Reason To Have A Home Inspection

Reveal Possible Pest & Insect Problems

Pest and insect infestation can destroy a home. Depending on your location, the likelihood of having a pest or insectproblem will vary. There are many different types of pests and insects that can create problems in a home. Wood-boring pests and insects, such as termites, can be a huge problem if not discovered. Termites cause approximatelyfive billion dollars in damage to properties yearly . Other common wood destroying pests include carpenter ants andpowder post beetles.

Some home inspections will include a pest and insect inspection and others will not. Be sure to ask your real estateagent whether or not they have any home inspectors or pest inspection companies who can make sure the homeyou’re purchasing does not have any pest or insect problems.

Find Structural Issues

One of the top reasons to have a home inspection when buying a home is to determine if there are any structuralissues with the home. The structure of a home is one of the most important components to a home. Structuralissues can costs thousands of dollars to correct if discovered and by performing a home inspection, you can avoidhaving such a large expense in the future.

When choosing a home inspector, know that some home inspectors are professional engineers (PE’s) and some arenot. A home inspector who is a professional engineer should be able to determine whether a home has structuralissues or not. Other things to be aware of while looking a homes that could be potential structural issues includesignificant cracks in ceilings and walls, cracking in the foundation walls, and out of level door frames.

Forecast Potential Future Expenses

Since buying a home can be a significant investment and can deplete a buyer’s bank account, it’s important to know

what to expect in the future when it comes to expenses. It’s important to understand that there are no guaranteeswhen it comes to the unexpectedexpenses of owning a home. Whileunlikely, it’s possible that a new hotwater tank can be defective and needreplacement shortly after closing.

Another important reason to have ahome inspection when buying a home isit can help predict the future expenses. If a home inspector indicates the roof orfurnace is nearing the end of it’s lifeexpectancy, it’s important you begin tobudget for a new roof or furnace. Thehome inspection is a great tool to helpyou create a future plan for expenses.

Home inspections can help determinewhere expenses for replacement orupgrades may arise in the future formany components, including:

Appliances

Windows

Roofing

Air Conditioning

Electrical

Plumbing

Heating Systems

There are programs available at local,state, and national levels that providegrant money and tax incentives forreplacement for many of the abovecomponents in a home. Ask yourRealtor about potential programs in yourlocal area and state.

Home Inspections Allow For Negotiations On Price & Repairs

Price Negotiations

First and foremost, the purpose of the home inspection contingency is not to get a better price on a home because ofminor issues found during the home inspection. Buyer’s who use the home inspection as a time to renegotiate with aseller even though an issue was seen before making an offer is one of the biggest things a buyer can do that realestate agents hate (and sellers).

If there are some major problems that are discovered during the inspection however, it maybe appropriate torenegotiate the terms of the original accepted offer. Depending on the type of financing and terms of the originalcontract, deficiencies from the home inspection can be used as a reason for a reduction in the price or a concession

from the seller towards closing costs.

Negotiate Seller Repairs

The only person who can determinewhat home inspection findings that needto be corrected before moving forward,is the buyer. Some buyer’s are scaredaway from a home relatively easily andothers are not alarmed by evensignificant inspection findings.

After the home inspection is completed,you will have the opportunity to requestrepairs of the home owner. The homeowner will have the opportunity to agreeto the repairs or disagree to the repairs. Without a home inspection, you will nothave the opportunity to request repairsfrom a seller. This is another veryimportant reason why having a homeinspection when buying a home isstrongly recommended.

Provides An “Out”

One of the biggest challenges that isfaced during a real estate transaction isthe home inspection phase. Manytransactions will not be able to moveforward after a home inspection forvarious reasons. The biggest reason atransaction doesn’t move forward isbecause a buyer and seller cannotagree on the repairs requested or therenegotiation’s from the inspection.

There are some circumstances where abuyer does not feel comfortable with thefindings from the home inspection and will not proceed with the transaction, no matter what concessions and repairsare offered from a seller. The home inspection, in most cases, provides an “out” for a buyer if they are notcomfortable, which is another reason for having a home inspection when buying a home. While it is rare that abuyer gets “cold feet” after an inspection, it does happen.

Final Thoughts

As you can see, having a home inspection is highly recommended when buying a home, for the many reasons listedabove. While a home inspector is not perfect and can miss issues during a home inspection , they are going toinspect the home in much more detail than you and your real estate agent did during your initial visit.

Just like you should interview a buyer’s agent when buying a home, you should contact potential home inspectors toask them questions. Some questions and things you should consider asking a home inspector include:

Do you have any special certifications?

Are you a member of ASHI?

Can you provide references or testimonials?

Can I be at the home inspection?

What does your inspection include?

Can you send me a sample of your inspection report?

How much do you charge?

Other Home Buying & Inspection Related Resources

So You Say I Need A Home Inspection If I’m Paying Cash? via Rhode Island Coastal Real Estate

Top Home Inspection Issues To Avoid via Maximum Real Estate Exposure

First Time Home Buyer Tips & Advice That Must Be Read via Rochester’s Real Estate Blog

Real Home Inspection Advice From A Real Home Inspector via MC2 Home Inspections

Top Frequently Asked Questions From Home Buyer’s via Rochester’s Real Estate Blog

Are you buying a home in Rochester, NY? As you can see it’s highly recommended you have a home inspectionwhen buying a home. If you have the need for a top quality home inspection company in Rochester, NY, contact me,and I’d be happy to provide you with several top quality home inspectors. If you’re unsure how the home buyingprocess and home inspection process works, I’d love the opportunity to share my expertise and knowledge with you.

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About the authors: The above article “Top 10 Reasons To Have A Home Inspection When Buying A Home” wasprovided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’rethinking of selling or buying, we’d love to share our knowledge and expertise.

We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton,Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush,Honeoye Falls, Chili, and Victor NY.

Visit our website at www.HiscockHomes.com.

© 2015, Kyle Hiscock. All rights reserved.