The Importance of a Home Inspection
For many people, buying a
home is one of the biggest and most important purchases they make in their
lifetime. That being said, a proper home inspection can make the difference
between buying a home that you love and buying a home that you can’t wait to
move out of. Home inspections are generally inexpensive in comparison to
the overall cost of buying a home and having one completed before your purchase
is critical when it comes to avoiding the responsibility of costly repairs.
Continue reading to learn more about home
inspections and how they can save you time, money, and stress
in the long run!
What Does a Home
Inspection Cover?
A good home inspector will cover specific components of the home and
then provide a detailed report with photographs that outlines their findings.
The inspection should review the condition of the home’s heating and central air
conditioning systems, the electrical system, interior plumbing, the attic and
insulation, the
roof, walls, ceilings, floors, windows, entry
points, and the foundation. The inspector should also detail which items will
need replacement if any, as well as anything that could be considered a defect
or safety concern.
What Isn’t
Usually Covered By a Home Inspection?
It’s important to know that there are things that are usually not included
in regular home inspections and
that separate tests would need to be run in order to ensure that there are no
concerns. Here are a few things that may not typically be included in a
traditional home inspection: inside chimneys, septic tank
systems, swimming pools, asbestos, pest
control, and toxic mold.
Who Benefits From
a Home Inspection?
Believe it or not, both the seller and the buyer can benefit from a
home inspection being completed. It is recommended that as the seller, you
complete a pre-listing inspection. Doing so allows you to find out the
condition of your home, see the extent of any possible defects, complete
disclosure forms, price more accurately,
and prevent excessive seller concession
requests. As a seller who completes a pre-listing inspection, you will also
have ample time to have any necessary repairs done.
Why Should I Get
a Home Inspection as a Buyer?
1. Contract Contingencies
When purchasing a home, if you choose to forgo a well conducted home
inspection, you are forfeiting your opportunity to identify any major issues
with a home you are planning to purchase before closing. Home inspections
are often used as a contingency in your contract with the seller, meaning that
if the inspection reveals major
defects or issues, you would be able to back out of the contract
without being subject to penalty within a certain timeframe. The home
inspection helps you weigh your options as well, especially if you are looking
at multiple properties.
2. A Smoother
Transaction
Although it is rare that a seller would intentionally be misleading
about the condition of the home, the home inspection can prevent these types of
situations from occurring. The home inspection can also protect you when you
are purchasing a new
construction home, as the builders will want to complete the entirety of the build
at once, rather than having to come back later when a problem has risen.
3. Peace Of Mind
A properly conducted home inspection can offer you peace of mind as a
homeowner and an increased confidence in your purchase. After all, your home
is one of the biggest purchases you can
make and without the inspection, you may be left wondering what damage or
safety concerns lie
ahead.
The process of buying a home can be a very exciting time in your life.
If you are in the market for a new home, you might also be shopping for
homeowners insurance. For more information about a homeowner’s insurance policy
with NYCM Insurance and to learn about your available discounts, click the link
below to find a local agent!
