When buying a new home, most people are eager to finalize the deal on the home and get settled into their new space as soon as possible. Although the property may look fabulous, there are certain elements of a home that may need attention. Even if you know the house needs some work, and you’ll be relying on your DYI experience, you’ll still want to know what extra maintenance work you’ll be doing on the house after you purchase it. While some homebuyers simply do not want to pay the extra money, they should first be aware of the true benefits associated with getting a building inspection.
What’s Hiding in the Home
You cannot always see the extent of damage to a home. While sellers are required to disclose known issues to you, they may not be aware of some serious issues themselves. You’ll want to know about major structural deficiencies, such as cracks in the foundation. Signs of how well a house was maintained can also make a big difference. You’ll want to know of any water issues, mold and if the HVAC system works properly. The inspection can also give you recommendations for improvement, such as any electrical issues or code violations. All of this type of damage would typically be found with a building inspection and will allow you to make a more informed decision.
Making a Decision
Once you are aware of the issues with a home, you can make a more educated decision about how to proceed. You may decide to back out of the contract altogether, if the damage is too significant. On the other hand, you may work with your real estate agent to create a counteroffer so that the seller pays for the repairs or so that some of the repair work is completed prior to closing. This could potentially save you hundreds or thousands of dollars on your new home.
Planning for the Future
Once you’ve purchased your home, you’ll now have time to fix any of the issues that were found during the building inspection. You’ll need to decide what can be fixed by yourself and where you need to call in the experts. It’s often best to leave the major fixes and repairs, such as structural, water and electricity, to the professionals. Ideally, you can resolve all of these issues just before you move into the home.
A property inspection is an optional report that you can order as a homebuyer, and some will choose to forego this report to save time or money. However, there are several key benefits when you order an inspection and review the report thoroughly and your real estate agent can assist you in negotiations with the seller after the report is available.
Looking for a building inspector? Not sure who to call? Download the Bill Parnaby Team App for a comprehensive list of reputable trades and services available right at your fingertips.
