Buying a house is one of the more expensive purchases most people will make in their life. This is why it’s essential to get it inspected before finalizing the deal. It’s imperative to know the home’s physical condition before handing over all of your hard-earned money. Heating and cooling systems, plumbing, electrical systems, roof, attic and insulation, walls, ceilings, floors, windows, doors, foundation, basement and structural components are just some of the elements of a house that need to be properly inspected to gauge what damage, if any, needs to be taken into account during the purchasing process.
Knowing what repairs a house may need allows you to determine which repairs are time sensitive and which repairs can be put off for a later date. Inspections also allow you some potential leverage during the negotiation process for repairs to be factored into the price of the property. However, just because a house needs a few things fixed doesn’t mean you shouldn’t’ buy it. Take into account how much the repairs will cost and how much work you’re willing to put into the process before making a decision.
That being said, home inspections don’t cover everything. Some defects in the property might not be immediately visible to inspectors. As a result, Inspectors aren’t required to identify conditions that are hidden or could be considered latent defects. Inspectors are also not required to physically move any personal property that may be obstructing the view of defects such as plants, snow, or debris. Finally, inspectors don’t have to make a note of termites, mold, and hazardous plants or animals on the property.
While it isn’t possible to know every defect with a property before buying it, an inspection does provide a general idea about the condition of the property and should point of any glaring issues with the conditions of the home. Home inspection costs are typically based on the property’s size, complexity and number of systems; inspections can be as cheap as a couple of hundred dollars and should take at most three weeks to finalize any lab results. But that money and time could lead to a lower sales price for the house once repairs are factored in.