The Ins and Outs of Your Home Inspection

In the excitement of finding your dream home and making an offer, it’s natural to want to push forward as fast as possible. However, the inspection is a critical step in the home buying process—and it’s super important to be realistic about its findings instead of glossing over major issues. Here’s what you can expect during an inspection:

Definition and Scope: According to the International Association of Certified Home Inspectors, a pre-purchase inspection is a non-invasive, visual examination of the accessible areas of a residential property. Its purpose is to identify and describe any current defects. It isn’t a prediction of future problems or every issue that may exist or could materialize.
What Is Inspected: There are eight key areas that inspectors usually focus on when evaluating a home:
  1. Roof
  2. Exterior
  3. Basement, Foundation, Crawlspace and Structure
  4. Heating and Cooling
  5. Plumbing
  6. Electrical
  7. Attic, Insulation and Ventilation
  8. Doors, Windows and Interior
When It Occurs: Although it may seem logical to schedule an inspection before making an offer, it typically occurs after you make an offer. This is due to the fact that a fee is charged for this service and you probably wouldn’t want to pay for numerous inspections. To reduce the possibility of purchasing a money pit, nearly all offers are contingent upon a passed inspection. It may also require the seller to make needed repairs, pay for them or give you the opportunity to reduce the selling price.
The Cost. HomeAdvisor says that the average cost per home is $200 to $400, depending on the size of the property. Some buyers spring for an extended inspection that also includes checking for mold, asbestos, radon and/or sewer issues. This can add a significant amount to the price. However, if serious issues are suspected, discovered and fixed, it’s best to address them before moving in.
Who Should You Trust? A home inspection should be conducted by a trained professional. Although it may be nice to save a few bucks and have a handy relative take a look at the home, they may not have the experience to identify all of the issues. In addition, they may be overly critical of minor defects in the home because of their affection for you. Ask Home Mortgage Alliance or a referral to a high-quality, trustworthy home inspector.
As you head into the home stretch of your house-hunting journey, be sure to take time for a quality home inspection. This will lead to peace of mind and a smooth transition to your new home.
- By The HMA Team, May 08, 2018