Buying a home is one of the biggest investments that most people will ever make. If you’re already on a tight budget, you may not want to add the cost of a home inspection after spending thousands on a home, but ordering an inspection can save you money down the road. With this in mind, let’s take a look at the buyer’s home inspection process and why it is important. This will help you better understand and prepare for it when purchasing a property.
What is a Buyer’s Home Inspection?
A home inspection is a visual examination of the structure and different systems in the home. This inspection takes place when a property is under contract, but before closing. Generally, you should expect the inspection to take a few hours depending on the size of the home.
During the inspection, a professional inspector will assess the property, take photos, and write a report, detailing their findings. Home inspectors are trained to identify any problems, as well as health and safety concerns. They will note mold, structural issues, and other issues with the home.
Why is it Necessary?
A home inspection is important to determine the integrity of the property before the sale is final. As the potential buyer, you’ll know exactly what you are getting into ahead of closing. Without an inspection, issues may go unnoticed and you could be on the line for hefty repair bills in the future.
A buyer’s home inspection gives you the chance to learn about problems with the home and make sure you are getting the best price possible. Based on the inspector’s findings, you can request the seller either make repairs or adjust the sale price to allow you to budget for repairs once you’ve moved into the home.
What to Expect During a Buyer’s Home Inspection
A buyer’s home inspection is not something that a house will “pass” or “fail”. There may be issues that require renegotiating the contract, but it is simply a report of the home and its components. You can expect your inspector to check the heating and cooling, electrical, and plumbing systems. Additionally, they will inspect the roof, ceilings, insulation, windows, doors, floors, basement, and foundation. After the inspection, you will receive a full report noting any issues, and a description of anything in the home that requires replacement or repair.
It is recommended, but not required, that buyers be present during the inspection. The buyers can ask questions of a professional and this will help alleviate stress about the purchase. The inspection gives peace of mind that the home is worth the money, and it provides the opportunity to negotiate if there are major problems. Making sure the property’s systems and structure are in good condition will help prevent you from making a poor investment when buying a home.