What is a Home Inspection?
The buyers are responsible for ordering a home inspection. The buyer can also choose not to have an inspection performed, but this isn’t recommended. A home inspection is a visual inspection of the house’s structure and systems; the inspector checks the house over from foundation to roof.
The inspector’s report gives the homebuyer information about the HVAC system, the electrical system, the roof, and whether the foundation and structure of the home are sound. A home that needs a lot of repairs may become cost-prohibitive for the buyer unless the seller is willing to negotiate. It is always a good idea to have a buyer’s home inspection performed for these reasons.
Why Do Homebuyers Need a Home Inspection?
A home is one of the biggest purchases most people will make in their lifetime. Buyers should learn as much about their new home as possible. A house might look great on the surface but have hidden issues.
A buyer’s home inspection will detail any repairs and maintenance a house needs now and in the future. Armed with the knowledge from the inspection, a buyer can make a confident decision on whether the home is a smart investment.
A Home Inspection Gives the Buyer Options
The sale isn’t finalized until after the buyer’s inspection. This means buyers have a chance to review the inspection and make requests or back out of the sale. It also allows the buyer the option to renegotiate the price of sale with the seller. A buyer may want certain aspects of the house to be repaired before they buy, or they may ask for a lower sale price so they can make the repairs themselves at a later date.
A Small Price to Pay for Peace of Mind
An inspection for a single-family home generally costs between $350 to $500, depending on size. Adding a radon or mold test will add to the cost, but both are important services. A buyer’s home inspection is very affordable compared to the cost of the home and potential repairs. For example, a new roof starts at around $10,000 and goes up, depending on the size of the home and materials used.
Learn About Safety Concerns
A buyer’s home inspection addresses potential safety concerns when buying a home. The inspection checks the home’s foundation and the electrical system for fire risks. You can also ask for radon testing. Radon is a naturally occurring odorless gas that can cause lung cancer. Getting a buyer’s home inspection completed will help protect your family.
A buyer’s home inspection is an important part of the process and should never be skipped. If the house is not what the buyer expected or it needs too much work, a home inspection contingency allows the buyer the option to back out of the sale or renegotiate. An inspection is a small price to pay to have confidence in the sale and the condition of your new home.