Buying a home can be a stressful experience, and one that is frequently filled with uncertainties and questions. Buyers wonder; “Will they accept our offer?” “Can we get a lower interest rate than this?” “When will our home sell?” Amongst all of these unknown answers to the questions, there is one very important no-brainer step that you can take to assure your peace of mind and that is to get a professional home inspection done. Perhaps you have encountered skeptics who maintain that a home inspection is not worth the cost. Or maybe you have been wondering yourself whether or not you should go to the trouble of hiring a home inspector. The answer is, unequivocally, yes! In fact, getting a thorough home inspection prior to purchase is one of the wisest investments that a homebuyer can make.
Having a home inspection contingency clause written into your purchase contract is vital to protecting your interests, both now and in the future. Inspection fees are more affordable than you may imagine, and this small investment is one that can ultimately save you a good deal of time, money and heartache. The U.S. Department of Housing and Urban Development (HUD) recommends that all homebuyers have prospective properties inspected prior to purchase and the law requires inspection for property that is purchased through FHA (Federal Housing Authority) backed mortgages. Many lenders will also require a home inspection as a condition of approval, since, as the first lien holders, they carry an interest in the condition of the property. If you are thinking about getting an inspection but uncertain as to what it entails, read on for some helpful home inspection tips.
The home inspection process consists of a visual examination of the house’s current condition. A trained and licensed professional inspector will look at the home’s structural integrity including the foundation, windows, walls, floors and ceilings, roofs and gutters and conduct a review of the heating and cooling, plumbing and electrical systems. You may be surprised to hear that many serious and costly defects are not immediately apparent to the untrained eye. Giant repair bills can unexpectedly surprise homeowners who forego an inspection, as many people can attest. What appears to be a perfectly sound roof could end up in partial collapse during the next big storm. In such cases, the cost of a home inspection will look like pocket change compared to the repair or replacement costs!
It is important to realize that a home inspection is only as good as the inspection company you choose. Your home inspector should, at a bare minimum, be certified by the state that he or she is working in and preferably be accredited by the National Association of Certified Home Inspectors (NACHI). Certified inspectors are held to a set of stringent requirements including passing both practical and written examinations, attendance/participation in coursework in ethics and professional standards, participating in advanced coursework and more.
Be certain to discuss in advance both your inspector’s credentials, and the scope of the inspection itself. Extra services such as air quality testing, environmental and pest inspections may or may not be included in the fees.
Once you have hired a home inspector, it is to your benefit to be present for the inspection itself, if at all possible. Generally, an inspection takes about one and a half to three hours. This is an excellent time to address any concerns or questions with your inspector. If the inspection turns up any defects, ask him or her to physically show you the problem. Your home inspection report will contain not only information on the current physical condition of the home, but also an estimate of the remaining useful life of the home’s systems and structure. With this knowledge you can be assured that you have a complete picture of costs you may expect to incur in the near future. The home inspection company will provide a written report, generally within two to three days.
If your heart is set on a particular home and unexpected problems turn up, don’t despair. There are no ‘perfect’ homes. Home buying contracts are always negotiable. Do your homework and research the cost of any corrective actions that are needed. Armed with that information, you can approach the seller with a new offer or request a clause that makes the sale contingent upon completion of required repairs or system replacement.
All of this said, the best home inspection tip that we can offer you, is to spend the money to get an inspection done, and consider the money spent, a worthwhile investment in your new property and future!
Latest Videos of Home Inspection Tips:
home-inspection
