When you're buying a house for the first time, your real estate agent has probably suggested that you schedule a home inspection for any property that you are considering putting an offer in on. You might wonder why a home inspection is such a big deal, and whether or not it's actually worth the money. Here's a look at a few of the reasons why a home inspection is worth every penny of the investment for a potential home buyer.
Identifies Potential Catastrophic Problems
The single most important reason to pay for a home inspection before you buy is that those inspections are intended to identify any potentially serious issues that you may need to discuss with the sellers. Things like leaky roofing, mold, structural damage, and other serious problems can become negotiating points, where you can require the seller to fix these issues before you buy. Alternatively, you can exercise your right to withdraw your purchase agreement.
Helps You Build An Action Plan
If there aren't any catastrophic issues with the property, you can continue with the purchase agreement as intended. However, you may find that the inspection report still details minor issues or potential upcoming maintenance and repair issues. You can use that information to create an action plan for your new property. Prioritize what may need to be done in the coming year, and then start saving to cover the costs ahead of time. That way, it's easier on your budget when it does need to happen.
Affordable Peace Of Mind
For many potential homebuyers, that inspection process is an affordable way to get peace of mind when it comes to their new home. If you're uncertain about its age, structural elements, electrical wiring, plumbing condition, or any other similar issues, your home inspector will assess all of it and provide you with a detailed report that illustrates anything he or she may have uncovered, or advises that the property is in good condition as it sits. For the small price of a couple of hundred dollars, your home inspection report can give you the peace of mind you need to move forward with a purchase when you're ready.
Talk with a home inspector today for more information about what you can expect from the process and other ways that a home inspection might be able to help you as you look for a home to buy. The more you know, the easier it is to appreciate the service.