The Importance of Home Inspections for First-Time Buyers
In most circumstances, a home inspection is usually done before the sale is finalized. This means you have a final chance to back out if the results of the inspection come back negative. For example, you might find that the cost of the repairs exceeds your budget and would require another loan. You might then choose to look at another property altogether. An inspector can identify the hidden problems in a home so that you can determine if it still the right choice for you. The phrase “better to be safe than sorry” definitely applies in this situation. Click here if you need help finding a professional so that you can move forward ASAP.
If you have recently purchased your first home or are beginning to start the process, you have probably heard about getting a home inspection. This involves an extensive checkup of the location to ensure everything is safe. While you might not think it is necessary, it is actually a critical process, which can determine if there are any defects throughout the entire property.
Since purchasing a home is most likely your biggest investment yet, it’s essential that you protect it and know what you are getting yourself into. The last thing you want is to spend all of your savings on a home that is unsafe for you and your family.
In this article, we are going to discuss the importance of home inspections for first-time buyers. Sound interesting? Then let’s jump right into it.
You have a final chance to back out
In most circumstances, a home inspection is usually done before the sale is finalized. This means you have a final chance to back out if the results of the inspection come back negative. For example, you might find that the cost of the repairs exceeds your budget and would require another loan. You might then choose to look at another property altogether.
An inspector can identify the hidden problems in a home so that you can determine if it still the right choice for you. The phrase “better to be safe than sorry” definitely applies in this situation.
It makes sure the property is safe
While some structural damage can be identified externally, a simple visit to the home won’t be able to show everything. For example, termites can significantly damage a home internally, causing many safety issues further on down the track. Since they often eat from the inside out, many times you won’t even notice they are there until it is too late.
By getting a house inspection, a professional can determine all of the damage, both internally and externally, before the walls start crashing down. This is vital for both you and your family’s future safety.
You can use it to your advantage
If the inspection is done early enough, in some cases, you might be able to make further negotiations. For example, if you are happy to move forward with the sale, you might give the report to the owner and offer a lower price. While this doesn’t always work for every situation, it’s definitely worth a shot, especially if the damage is minimal. You might be able to save yourself some serious cash.
It’s important for insurance purposes
While this isn’t always the case, some insurance companies will not want to assist you if the home is found in such a poor state. You’re more likely to get approved with an inspection certificate up your sleeve than without one. However, if you want to work around it, do your research first, and talk with a few different insurance companies.
You can learn how to maintain your new property
In many cases, your inspector will not only tell you about the issues with the property but also provide you with advice on how to maintain it. For example, if pests are found, such as rodents, they may be able to recommend a treatment plan or a service to help you get rid of them. Not only is this again ensuring your safety and health, but it allows you to make future arrangements in advance and create a budget for these issues.
You are protecting your health
Alongside structural issues, they are many other common household problems that can significantly impact your health. Things like mold,
It will reveal illegal additions
While it might sound a bit crazy, homes can, in fact, have illegal additions that initially aren’t identified by the real estate agents. This could cause your property taxes to rise, affect your insurance, and may even cause further home issues when you try to resell the property. Some of the most common home additions that need a permit include
It allows you to determine future issues
In some cases, the damage to the property might be minor, and you will still want to go forward with the sale. However, by getting the inspection, you can determine what future issues may arise and how to be prepared for them. For example, you might find a few tiles that are cracked. This isn’t an issue now, but in the future, they might need replacing.
By being prepared for these future problems, you can create a budget, have a plan in place, and, most importantly, decide if it is all worth the hassle.
You’ll have better peace of mind
Finally, by getting a home inspection, you will have better peace of mind when finalizing a sale. Purchasing your first house is a significant achievement, and you want to be able to enjoy it as much as possible, without worrying about any hidden issues.
Once everything is finalized, you can move in, enjoy your new home and start decorating! Trust us when we say it’s definitely worth it.
By reading through the above, it’s easy to understand why home inspections are so important for first-time buyers. By ensuring that you hire the right professionals, you can understand the steps that would be necessary to fix these issues, and then make your final decision. While it might be an additional expense, at the end of the day, it protects both your health and your finances. So, make sure you do your research and find a local inspector near you.