Why You Should Get A Home Inspection and How

There are many reasons to get a home inspection and the only reason not is to save time and money. If you account for how much you’re spending on the home, the cost of an inspection is minimal. These reasons should help you understand why an inspection is worthwhile.

Better Understanding of What You’re Buying

It’s rare that every single attribute of a home is completely updated or new. Even a well-maintained home might have a furnace that’s approaching the end of its lifespan. A good home inspector can give you a comprehensive report of each attribute in a home.

Reduce and Avoid Surprises

We don’t believe in the idea of a “failed home inspection.” We do believe that every building requires maintenance and repair over time. An inspection explains how much time, money and hassle the building will cost you. Big buzzword items (knob and tub, Kitec, mold, leaks) are easy to identify and estimate. These items can create an opportunity for buyers to buy the home at a discount.

Estimate Maintenance Costs

Most inspections don’t deter a buyer from buying a home. They might provide an accurate estimate of how much they’re going to spend in the immediate, mid and long term.

Learn How to Maintain Your Home

A full walkthrough of the house gives the buyer a better understanding of how they will maintain the home. This is a great start for first-time buyers who feel overwhelmed and don’t know where to start. They build confidence with the itemized list of minor projects for them to do once they own the home.

It’s An Extended Buyers Visit

Most home inspections take 2-3 hours. We find it’s best to have your home inspector walk you through what they found at the end of the inspection. Use the time during the inspection to measure, think about furniture and make plans for your new home.

Insurance

Insurance companies are getting more and more detailed. Inspection reports provide you with answers to all the questions they are asking. It’s better to have accurate insurance versus insurance based on incorrect information.

Ain’t Nobody Got Time For That

In a competitive market, buyers feel forced to consider making firm offers without inspection conditions. This creates a situation where buyers are assuming unknown risks. Some buyers discount their offers conservatively and others cross their fingers while offering, all while offering aggressive purchase prices. Regardless, it’s not ideal. Where possible, we suggest our buyers order a home inspection before offering on a property.

There’s a reason why the only people who can confidently buy a used car is an auto mechanic. Same should go for a house. Buy accurate, inexpensive advice from an expert when you’re able to. If you would like more information about this, email us at team@oulahen.com or call 416-222-1212.

How to Get A Home Inspection Properly?

The Smart Way to Go

For the typical home buyer, a home inspection should be considered an essential stage in the purchasing process. It arms you with a detailed report from a true expert who has gone through an extensive checklist of virtually everything that could go wrong with the property and eat into your pocketbook. This includes the roof, grading, plumbing, electrical, heating/cooling, and so forth. To make a long story short, the home inspector acts like a physician giving a physical, without the annoying waiting room.

Timing is Everything

Many home buyers have the mistaken idea that they need to wait until after they’ve made their purchase to get a home inspection, as an exercise in due diligence. This is not the case, and it often makes more sense to get it done before your purchase. This approach will give you crucial details about the material facts of the property you have your eye on. It can be a particularly wise move on purchases where negotiations are expected, and the home has been on the market for a while. In these cases, you will be able to prepare a firm offer.

Don’t Get Spooked

So you got your home inspection, and it turns out there’s some knob and tube wiring. Time to run the other direction, right? Not so fast. It’s important to take the information you gain from an inspection and use it to your advantage. There are often some very good deals available on homes that have small amounts of knob and tube, or a tiny bit of asbestos, or an oil furnace, for example. There are fixes for all of those problems, and you can work that into your offer. If you really think about it, five grand for a new furnace isn’t the end of the world if you’re getting a $20,000 discount on a $1 million home. Similarly, knob and tube wiring can be repaired by a good electrician for about $20,000.

How to Arrange a Home Inspection

Ask us about home inspections.

You’ve read this far, so you’re obviously convinced that a home inspection is a good idea. You can find a home inspector online at HomeStars, through an online search, or via reference from your realtor. As always, it’s wise to get quotes from multiple inspectors. Go with someone who you feel good about and has a positive demeanor. Larger companies charge about $50 for an inspection, plus an additional $50 if you want to keep the binder of information they have developed about the property. Most inspectors are independent contractors, however, and charge in the range of $350-$450.

For more information about home maintenance or home inspections, email us at team@oulahen.com or call us at 416.222.1212.