What You Should Know About Home Inspections
Home inspections are a standard procedure in real estate transactions. Although the buyer typically is the one to execute a home inspection, sellers can also benefit from having one done. According to a 2013 study from the National Center for Healthy Housing, around 40 percent of metropolitan homes in the country have some type of health and safety hazard, including problems such as water leaks, mice and other pests, foundation issues, and problems with the roof. A home inspection provides you with the information about the property so that you are fully aware of any repair costs you may have once you purchase it.
Your Inspector Matters
Even the best home inspectors occasionally miss something, which could end up costing you thousands of dollars in unexpected repairs once you purchase your home. To reduce your risk of this happening, you want to use an experienced and licensed professional on your side. Ideally, you should look for a Licensed Professional Engineer (P.E.), the highest credentials in individual can have in this area. You want to go with a P.E. to avoid having to pay twice for an inspection, as any major problems that appear will require the opinion of this type of professional. P.E.s also must meet state regulations to maintain their license, ensuring they have the most up to date knowledge for a thorough and reliable inspection.
Accompany the Home Inspector on the Inspection
It is to your benefit to walk around with the home inspector during the inspection. When you do this, you gain a better understanding of any potential problems in the house, as well as any recommended repairs. Although the professional will take photos and explain it to you later if you do not attend the inspection, it is often easier to understand if you are there in person. It also gives you time to ask questions, especially regarding items about which you may be unfamiliar.
Make Sure Everything is Covered
For the home inspection, you want to be sure that the professional inspector assesses everything, including the physical structure of the home, the interior, the plumbing, heating, air-condition, electrical systems, roof, doors, windows, exterior facades, land grading around the structure, and the condition of any exterior structures, including sheds, porches, garages, patios, decks, sidewalks, and driveways. You also want the home inspected for any pests, especially wood eating varieties including mold, asbestos, and other potentially hazardous conditions. You also want to be sure that all electrical, plumbing, and HVAC systems are up to date and adequate for modern usage. There are also other optional tests you can have performed, such as testing for lead or bacteria.
Although home inspections are par for the course for older homes, you want to be sure to get one done no matter how new the home is. Even newly constructed structures may have some defaults about which you should be aware. Once you have a full, detailed report on hand, you can take this information and decide whether or not to purchase the home. If there are several expensive repairs done, you can always negotiate that the seller completes them or sells the home at a lower price.