A common question among home buyers is whether a home inspection is necessary when buying a home. Some buyers are tempted to waive a home inspection, wondering if it’s worth paying for a home inspection at all.
The National Association of Realtors states that roughly 80 percent of homebuyers have a home inspection. Once under contract, a home inspection is one of the buyer’s most substantial contingencies.
Finding out the overall health of the home is something you need to know. Home inspections will save you money in the long run. How home inspections work and why you need one are highlighted below.
Why Have A Home Inspection
Specific accessible areas of the home are inspected to identify any defects that may be present. There may be issues that could cost thousands of dollars to fix later.
Home inspections are essential to ensure that the home’s major components are correctly functioning. Usually, the buyer has only been in the house once or twice, so an inspection allows the buyer some time to ensure everything is working correctly.
The home’s sale depends on the repairs, so the seller is motivated to hire those who can fix them right. If any significant repairs are found in the inspection report, the home seller customarily pays for them. If repairs are necessary, they tend to be far more expensive than the inspection cost.
A home inspection will not find every issue that is present or could exist in the future. The inspection report will reveal any observable defects on the inspection date.
Components of the Home Inspection
It’s essential to understand the processes of the home inspection. Such as:
Does the Buyer Pay for the Home Inspection?
Customarily, the buyer pays for the home inspection. Once a home inspector is hired, they inspect the entire home, from foundation to roof.
What is the Cost of a Home Inspection?
It’s good to know that the home’s purchase price has nothing to do with the cost of your home inspection. Home inspections typically cost between $250 and $450. The range in price in part depends on the size of the house, the house age, and the type of house.
Items not covered in a typical home inspection include checking for radon, mold, sewer systems, and HVAC. Additional specialized inspectors may need to be hired.
When Does the Home Inspection Take Place?
Once the property is under contract, and a deposit of earnest money is made, home inspections occur within a few days. Realtors know experienced home inspectors and can schedule them for their clients.
How Long Does the Home Inspection Take?
Usually, the actual home inspection will take from two to three hours and depends on the type of home. Current software gives you a report sent to you via email within minutes after the inspection. Older software can take up to two days because physical copies are printed.
The Home Inspection Contingency
If repairs are necessary, the seller can negotiate with the buyer’s agent. Upon reaching an agreement, terms are added to the sales contract. One to two weeks are customary for the completion of repairs.
What is Covered in a Home Inspection?
Common areas for inspection are the attic and the basement. The inspector is looking there are no issues with decayed wood or structural damage.
Electrical problems, water leaks, and proper ventilation are checked as well. The sump pump in the basement is also part of the inspection to ensure it is working correctly.
The bathrooms and bedrooms are part of the inspection. Inspectors look for issues with plumbing, electrical outlets, and appropriate ventilation in bathrooms. The home inspector also assesses the drains and toilet functionality. All electricity and lights are inspected in every room.
The home inspector checks the kitchen’s plumbing, refrigerator, stove, oven, and garbage disposal are working. The dishwasher and water pressure are also reviewed.
Heating and cooling systems will be inspected to assure there is no gas odor, and the inspector will also ensure that the AC and heating systems are working correctly.
The electrical systems inspection will include checking the electrical panel and if there is appropriate wiring, especially if there are any out-of-code wiring or exposed wiring present Also inspected are the telephone and network cables to assure they are safe.
The plumbing system inspection checks for damage or any leaks. Inspectors also check the water heater is performing appropriately. ,
The inspection of the roof is made to identify damage to the roof itself. The chimneys, any defects in the shingles and any leaks or water penetration is also made.
The inspection of the foundation of the home is made to assess the overall structure and whether it is healthy and sound. If there are any cracks coming from the doors or windows, this could indicate that the house’s foundation has shifted.
The soundness of the deck, fencing, shed, and any other detached structures is also a part of the inspection.
When you buy a home, we highly recommond a home inspection. Those homes that are brand new and have never had anyone living in them can have issues and still need a new home inspection. A home inspection involves a small fee to know exactly what, if any, problems your new home may have.
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