With real estate in Louisville ramping up, perhaps the home you are looking at has multiple offers putting you in competition with other potential buyers.
Concerned that your offer won’t be accepted if you add the condition of a home inspection you might decide against a home inspection.
Or, maybe you feel you’re handy and can fix any issues that arise. Or the house is only a few years old so what could possibly be wrong. ?There are several reasons that someone might decide that they don’t need to get a home inspection.
A home inspection should always be done no matter the age of the property, how great you are with tools or whether there are several offers on the table.
Buying a home is expensive enough as it is – why would you choose to fork over another $400 if you’re not required to?
Reason 1: ?Home Inspectors are trained to look at components in the home that other trades people may miss.
While it is true, home inspectors vary in experience, ability and thoroughness, but a good inspector should examine certain components of the home you want to purchase and then produce a report covering his or her findings. The typical inspection lasts two to three hours and you should be present for the inspection to get a firsthand explanation of the inspector’s findings and, if necessary, ask questions. Also, any problems the inspector uncovers will make more sense if you see them in person instead of relying solely on the snapshot photos in the report.
The inspector should note:
- whether each problem is a safety issue, major defect, or minor defect
- which items need replacement and which should be repaired or serviced
- items that are suitable for now but that should be monitored closely
A really great inspector will even tell you about routine maintenance that should be performed,?which can be a great help if you are a first-time homebuyer.?
A professional inspector will review the home inside and out to make sure all the systems work properly. They’ll be able to provide you with valuable information about the home that you wouldn’t get at a glance.
On the inside of the home, an inspector will perform a thorough examination of the
- electrical
- plumbing
- ventilation
- insulation
- flooring
- walls
- ceiling
- heating
- air conditioning
On the outside, they’ll check out the
- roofing
- flashing
- chimneys
- gutters
- downspouts
- windows
- doors
- foundation
- grading
Once the inspection is complete they’ll provide you with a full report identifying any repairs that need to be made immediately or in the near future.
Reason 2: ?The Home Inspection Contingency
Your first clue that a home inspection is important is that it can be used as a contingency in your purchase?offer. This contingency provides that if significant defects are revealed by a home inspection, you can back out of your offer, free of penalty, within a certain timeframe. The potential problems a home can have must be pretty serious if they could allow you to walk away from such a significant contract.
The Bottom Line
A home inspection will cost you a little bit of time and money, but in the long run you’ll be glad you did it. The inspection can reveal problems that you may be able to get the current owners to fix before you move in, saving you time and money. If you are a first-time homebuyer, an inspection can give you a crash course in home maintenance and a checklist of items that need attention to make your home as safe and sound as possible. Don’t skip this important step in the home-buying process – it’s worth every penny.
Remember, walking around with the home inspector as he reviews the home is a great opportunity to learn about all the quirks and idiosyncrasies of the property. You’ll be able to discuss any issues and make an informed decision about buying the home.
Information for this article, includes information from Realtor Jerry Gould, Re/Max,?www.jerrysayssold.com.
