Searching for a new home involves multiple steps — scanning numerous listings, attending open houses, exploring neighborhoods, and shopping for the best mortgage rates. Eventually, you will narrow down your options to one property that best matches your wants and needs.
Before you affix your signature on the purchase agreement, it is often advised that you include an inspection contingency in the contract — a small clause allowing you to back out of the deal if the home is not up to the required standards. Also known as the due diligence contingency, this clause includes a specified period for you to inspect the house and notify the seller of any defects. A home inspection may save you from frustration and plenty of headaches. This blog will discuss the reasons why an inspection is so important.
Identify the deal-breakers
Home inspections help identify significant issues that may render the home a financial burden in the long run. While a property may look great at first glance, behind the walls or under the floorboards may be issues with the home’s wiring, plumbing, or structural components. A qualified home inspector will provide valuable insights into the condition of the home, helping you make an informed decision about your purchase.
During the inspection process, the inspector meticulously examines various aspects of the property to ensure no major problems are lurking in the shadows. This includes assessing the foundation for signs of cracks, settling, or water damage, as well as inspecting the roof for leaks, damaged shingles, or other issues. They scrutinize the plumbing system, checking for leaks, water pressure, and functionality of fixtures. Electrical systems are thoroughly examined to ensure safety and code compliance. The inspector also evaluates the HVAC system for proper functioning and potential maintenance needs.
Afterward, they will provide an inspection report detailing the condition of the structure and the various systems of the home. You will then be able to determine if these issues can be resolved or if they pose insurmountable obstacles.
A home inspection will bring to light any hazards lurking within the property. An experienced inspector will know what to look for, including mold, lead-based paints, carbon monoxide leaks, electrical wiring problems, radon gas, and asbestos. With a thorough inspection, you can ensure that serious concerns like these are identified and addressed before moving ahead with the purchase.
It allows you to plan for future repairs
Don’t be alarmed, but most home inspections will uncover at least one issue, though they are often minor. Thus, the house you are purchasing is likely to have a defect, but you may be able to move in and fix it at a later date. An inspection report will provide valuable insights into the estimated lifespan of failing systems or components, such as the roof and HVAC system. It will also provide the associated repair or replacement costs, allowing you to plan for them in advance.
Reveal any illegal installation additions
It is common for some homeowners to add upgrades or modifications, such as an attic bedroom, a detached garage, a basement modification, room additions, or a deck, without getting the required permits or building to the required code. Some of these illegal additions can cause serious structural damage. Additionally, purchasing a home with illegal additions holds you liable, as the owner, for the cost of correction or removal of the additions or the related penalties. A home inspection will inform you of any illegal additions or modifications made to the property.
You will be able to insure the home more easily
Most insurers require an inspection report to assess the property's condition, determine the level of risk involved, and set premiums. Others will not provide coverage for pre-existing issues discovered after signing the insurance contract and purchasing the home. In the latter scenario, you will have to pay for the repairs out of your own pocket despite having insurance coverage. Schedule an inspection before buying a home to ensure your insurance process goes smoothly.
It can help you negotiate
It is very common for home inspectors to find issues during the inspection, as already discussed. In light of these problems, buyers may be able to further negotiate the home's purchase price with the seller. This can knock off a few thousand dollars from the listing price, leading to savings if you’re capable of tackling the repairs after you move in.
You will learn how to protect your investment
An inspection will give you a breakdown of the areas that need maintenance and the frequency of necessary tune-ups, allowing you to develop a maintenance plan. This proactive approach will prevent future issues that may interfere with your living arrangements while saving you on repair costs. It will also help preserve the value of your home. Inspectors are valuable sources of information and will share tips on protecting your home and saving you money in the long run.
It provides peace of mind
The most crucial aspect of a home inspection is that it gives you peace of mind that your investment is secure and worthwhile. Like other major life decisions, buying a home often comes with concerns and doubts. A thorough evaluation empowers buyers to make informed decisions, ensuring peace of mind and a sound investment.
Are you ready to become the proud owner of a new home?
Now that you are well-versed in the intricacies of home buying, it is time to realize your real estate goal. If you are looking for homes for sale in Santa Clara County, from Los Gatos to Gilroy real estate, Jen Marley Bright
is your go-to expert. With two decades of experience and a vast network of local knowledge, Jen has successfully facilitated many real estate transactions over her impressive career. Her quality service and professional integrity
set her apart from all the rest. Contact Jen today
to get started toward all your real estate dreams.
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