What is the value of a home inspection?

home inspectionWhether a house is an old or new building, I often recommend buyers (and sometimes sellers) get a home inspection. There are a number of reasons:

Plan Future Expenditures – The last thing that anyone needs following buying a new home is to discover that they have to make expensive repairs instantly following moving in to the home. An inspection will reduce the chance of hidden problems, and help you budget for future repairs that all homes eventually need (like roof replacements).

Negotiation – In your agreement to purchase, you need an clause that explains whether defects found through the home inspection will be repaired prior to closing, or the cost of the work will be reduced from the final sale price. With a detailed report of items in need of repair and a prior agreement of how defects will be handled, it’s easy to find solutions to the problems.

Peace of mind – The house buying process can be complex and stressful enough without the added worry as to whether the house is in great shape or has latent defects. The inspection can help allay these fears.

For Sellers:

What numerous individuals don’t recognize is the fact that sellers can also benefit from obtaining a home inspection. There are a couple of really good reasons why an inspection can be a great benefit for a seller.

Make Repairs Before Marketing – Although you know your own home, an inspection can help find out any concealed defects that will need to be completed prior to placing your home up for sale. This will ensure that your home will impress and assure buyers, and their agents, and lead to a quick sale.

Prevents Last Minute Sale Issues – Everybody wants their house buying or selling process to go smoothly. However, that is frequently not the situation. With a lot of steps involved in a real estate transaction there are many problems that can slow or prevent the closing. Essential home repairs don’t have to become one of those problems if they are found early and completed prior to the listing.

Creates Confidence in Sale Price – A small investment a seller can make in obtaining an inspection will help assure them that the selling price will be met and no surprises will lead to further negotiations.

 

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