1) Uncovers Non-Visible and Unforeseen Problems
There are various factors that can influence your decision in the home-buying process. The most important are typically the size of the home, the floor layout, and the home’s exterior. However, while the home may look like it is in excellent shape, the aesthetics can at times be hiding very serious problems.
A licensed home inspector will review every inch of the property, beyond the aesthetics to ensure that there are no unforeseen real and expensive problems that will surface after the sale has been completed. These unforeseen problems include but are not limited to the structural foundation, the roof, the electric wiring, and the plumbing system.
2) Provides Opportunities to Renegotiate or Find More Options
After you have reached an agreement to buy a home, there are legal obligations that bind you to complete the sale at the agreed price. After a home inspection is completed, its findings may be able to give you leverage to renegotiate the price or even get out of the deal itself. You can ask the seller to address the issues in the report or to deduct the costs from the sale price.
A survey by the National Association of Realtors found that 13% of sales are never completed due to a home inspection and that home inspections account for a third of all terminated real estate contracts.
3) Buy Your Home With Peace of Mind
A inspection report provides you with a legal guarantee of the current condition of your home at the time of the sale. This ensures that you will have no surprises soon after moving into your home.
In addition to the legal guarantees, you can also be confident in the inspection’s return on investment. Home inspections range from $350 to $700 depending on the size and complexity of the property. Within this range of prices, the inspection is always worth the investment. It can save you from paying tens of thousands of dollars in repair costs.