When buying a home, a home inspection is a must before closing the deal. The property may have hidden issues that can cause you problems in the future if not acted on immediately. A home inspection is a critical part of your home buying journey. Yes, it could reveal more than a few defects, but it can help you make wise decisions as you invest in buying a home.
It is advanced that before closing, the buyer should request a complete home inspection. Buyers need to understand the things that are not included in the home inspection.
Here are some tips that you must know in order the get the most out of your home inspection:
Know-How Home Inspection Works
If you decide to have the home inspected before buying, you can choose which company you use. It is helpful to do your research as to what home inspection companies are reliable. You can ask your family and friends if there are companies that they can recommend. You can also ask your real estate agent if they would recommend one. You can look through the company’s website and determine if their previous customers are satisfied based on the ratings.
As the buyer, you are the one to pay for the inspection. Aside from that, you are also encouraged to attend the inspection in person. By doing so, you can see the condition of the house you intend to buy and ask the home inspector real-time questions that can help you with your decision-making.
The standard home inspection evaluates different areas of the home. It considers the heating and air systems, interior plumbing and electrical, roof, ceilings, floor, windows, doors, foundation, and structure. Aside from that, you can also request an additional inspection for things like pests or radon.
After the inspection, a comprehensive report will be provided. This report includes detailed descriptions and photos of any defects.
Know the Fixes You Can Make Yourself
The home inspection will help you see the real condition of the home. The home inspection is questionable if they find nothing wrong with the house. They will see problems in different areas of the house, but that doesn’t automatically mean that you should not proceed with buying the home, only that you need to address the defects down the road.
The seller typically handles some things, and there are also fixes you should make yourself. If you are planning to remodel some areas of the house like the bathroom and the kitchen, don’t mind asking the seller to make repairs in those areas, not unless they are major electrical or plumbing defects.
Some fixes you can make yourself include cosmetic issues like touching up paint or restraining a wood floor, simple repairs, broken switches and sockets that are not a result of major electrical problems, and outside structures like garages and sheds.
Know When to Negotiate for Fixes
It is hard to handle much future repair work, especially if you are short on cash. If that’s the case, you can ask the seller to fix the defects at their cost or negotiate for a lower selling price or cash-back.
Not all defects should be negotiated. The seller can always say no; it is important to negotiate only for major structural or mechanical defects. A seller may fix common defects, including significant plumbing problems, roof leakage, elevated radon levels, unsafe electrical defects, mold issues, and drainage and water problems. These issues should be resolved before moving in; that’s why it would be typical for a seller to have these issues fixed before closing instead of knocking money off the selling price.
Know When to Walk Away
Defects found in the home can be fixed; however, it comes with a steep price. So if the home inspection found a major problem like a foundation issue and the seller refuses to make repairs, it may be time to walk away from the deal.
It is wiser to go for a home inspection before closing the deal because a home inspection will help you see if any major issues need to be addressed. It will help you make wiser decisions during the negotiation process. Aside from that, it will spare you from costly repairs in the future.