Why You Need a Home Inspection
By Jamie Pilote. Timber Home Inspection
You and your agent have looked at 100s of houses online and walked more than you care to remember over the last several weeks. You’ve finally found the one. Do you really need to get it inspected as well? The moving process can be expensive and everyone is pressed for time, but skipping the inspection could mean more than just missing out on a full understanding of the condition of the home. It may even mean missing out on opportunities before you close.
But, I’m Buying a New House
Even if you’ve made an offer on a newly constructed or a newly renovated home, an inspection can save you thousands in future repairs. Disconnected duct work or leaky drains are found even in a newly constructed home. Renovated or flipped homes may camouflage more serious issues with fresh paint, solid surface countertops, and shiny flooring. A brand-new HVAC unit attached to decades old supply ducts may keep your crawl space nice and comfortable but may leave your home’s interior lacking in heat or A/C. New electrical outlets and light fixtures may look better than the original beige and brass but may be hiding inappropriate or even dangerous wiring.
An Inspection Can Save You Money
In addition to understanding the actual condition of your next home, a home inspection may also allow you and your agent to negotiate a better deal after receiving your inspection report. In certain price points in Middle Tennessee, where buyers have little to no leverage, issues noted in the inspection report can allow you to negotiate anything from repairs to a decrease in the sales price of the home. Moving these potential liabilities from your list of concerns after closing over to the seller before they move out can help to reduce the stress level of the moving process and keep your moving expenses down.
Won’t the Appraisal Tell Me if Anything is Wrong?
Your appraisal is not the same as a home inspection. Your appraisal is ordered by your mortgage lender to make sure the value of the property justifies the amount of money they are allowing you to borrow to purchase it. Often, the appraiser may not even physically look at the home at all; he/she may only compare the contract price on your home to the recent sales prices of similar properties in the area. While this is an important part of the home buying process, it is certainly not a replacement for an inspection.
Should I Inspect as a Seller?
On the sales side it may be beneficial to have your home inspected before going to market. Understanding what a buyer or buyer’s home inspector may find before the fact can help prepare for or even eliminate those issues that may cause a potential buyer from cancelling the contract and moving on to the next home. Many issues found in a home inspection report can be handled with little effort or money. A Major Systems Inspection can help identify any of the larger price point issues that may scare potential buyers away. You and your agent will put a lot of effort in to attracting the right buyer for your home. A pre-listing inspection can help you avoid stumbling blocks once you’ve found them.
Safe and Secure
Every home comes with regular maintenance tasks and ongoing expenses, but adding a bathroom sub floor repair or foundation re-support to your list of moving expenses may blow the budget. In a hot market like ours, your agent can help you find ways to stand out in a crowd of offers. Throwing out your inspection contingency could end up being a very expensive one, while a professional home inspector’s report could leave you feeling confident and secure in your new dream home.