If you’ve purchased a home before, you probably already know about home inspections. If you are a first-time home buyer, you might not be so well-informed. Since approximately two out of every five properties have major defects, it makes sense to get your property inspected.
Your home is your biggest investment, and failing to get an inspection is downright ludicrous. Unless you are a property inspector yourself, always get a professional to perform a home inspection.
The following is some useful general home inspection information:
Why get a home inspection?
Failing to get a home inspection could be one of the most expensive mistakes you have ever made. The last thing you want to do is spend a lot of money for a home because it seemed to be in top-notch condition only to find that the house has lots of defects. Home inspections can save you this headache.
The fact is that all properties need a home inspection, while others require it. Properties that require home inspections prior to purchase include:
- New houses – Just because a property is brand new, doesn’t mean that it was built perfectly. Even brand-new houses have construction flaws.
- Used houses- The older the house, the greater the chance that there are structural defects as well as mechanical problems.
- Condos and townhomes- Remember that you are required to share the cost of work that is needed in common areas since you are essentially a co-owner of the building.
Why it’s a good idea to get an inspection before you put your home on the market
If you are selling your home, it is wise to get an inspection because you may be blind to any of your home’s problems, especially if you have lived there for a long time. Property that is in good physical condition will sell for top dollar. Defected property can cause a deal-breaker because the buyer doesn’t want a fixer-upper.
Types of property inspections
- An interior and exterior prepurchase inspection- This inspection covers the roof, the HVAC system, plumbing and the electrical system as well the foundation of the house, smoke detectors and insulation. This type of inspection points out health and safety hazards and takes several hours to complete.
- Pest control inspection- These inspections are limited: the inspector checks for property damage caused by infestations of termites, fungi and dry rot.
- General contractor’s inspection- If you are planning a major property renovation or a lot of corrective work for a property, you need this type of inspection.
Overinspecting a property is better than underinspecting, and the cost will give you peace of mind knowing that your home does not have any defects or require any expensive corrections. Be sure to hire a quality property inspector that you have found through a real estate agent or recommendations from family and friends.
Since the results of a home inspection can be an indicating factor on your home’s true worth, it may be a good idea to get a valuation report. You can rely on a free home valuation report from Neighborhood IQ to learn what your home is worth.