Passing up a home inspection may make your purchase offer a little more attractive and speed up the process, but the long-term ramifications of not getting a formal inspection done may come back to haunt you.
Home inspections, when completed by competent, certified inspectors, can reveal all kinds of issues or potential problems with the property you are about to purchase. With their trained eye, inspectors can reveal concerns both large and small, such as mold, faulty wiring, leaks, cracks, rot, vermin and so much more. With a purchase as large as a new home, it’s worth it to spend a few hundred more on a thorough inspection so you can have the peace of mind knowing exactly you’re getting into – especially before you’ve moved in.
We’ve outlined the top reasons why getting a home inspection is worth the time and effort:
- Keeping you safe
There are so many safety concerns in a home, from airborne chemicals or irritants, outdated plumbing, electrical, and venting, to structural concerns and materials. There may be issues that the current owners aren’t aware of or that they choose not to disclose (although this is illegal, it still happens on occasion). Don’t just assume your dream home is safe because it looks great; have a trained professional do the legwork and inspect the home and its systems thoroughly. If you aren’t happy with the report or don’t want to invest in costly repairs, you can simply back out of the offer and move on.
Another bonus to getting a home inspection is that if you do learn that the home is in great condition with no major issues to worry about, you can proceed with the purchase and breathe a lot easier!
- Getting what you want
If you aren’t happy with some details in your inspection report, you can talk to your real estate sales rep and see what can be negotiated with the seller/listing agent. For example, it’s not uncommon to request that certain repairs are made prior to the closing date, or that the purchase price is lowered in order to free up funds for you to make the necessary repairs. In a heated market or when there are multiple offers on the table at once however, this bargaining power may not work to your advantage if other buyers will take it ‘as is’.
- Learning about the home
Not surprisingly, there is a lot to learn about a home and its inner workings that the average home buyer may not always know. That’s where a home inspection report comes in handy, so be sure to read it carefully. It outlines every area of your home in detail, listing the condition and suggested repairs and maintenance, which will be useful in months and years to come if you do decide to buy. For example, you may find that the furnace is on its last legs and will soon need replacing, that your windows aren’t energy efficient, or that your downspouts need to be extended to avoid water getting into your home. The more you know about your home, the better you can prioritize any work needed on it.
A home inspection can reveal issues with a home that most homeowners simply don’t know how to look for. It’s a valuable tool not just for deciding IF you want to proceed with the purchase, but what short and long term repairs may be needed if you decide to buy. Knowing the big picture and being fully informed is an essential part of any property purchase, because as the saying goes…’buyer beware’. Choose a certified inspector who is insured and who comes with excellent references, and be sure to read your report carefully. Protecting you and your real estate transactions is our job here at Ares Law. Book an appointment to meet with our team before your next property purchase or sale in and around Parry Sound; we’re here for you. Call 705-746-6444 and let’s get started.
