Before you sign the papers to purchase your home, you will want to get one important thing done: a home inspection. This essential task will not only give you insight into the potential problems a home has, it was also give you the ability to renegotiate based on what is found. Knowing what to expect is the first step.
A home inspection should include the condition of the roof, attic, walls, ceilings floors, windows and doors, the heating and cooling system, plumbing and electrical systems, the foundation and basement. All these areas of inspection as done only if accessible. For example: if the roof is covered with snow, an inspector will look at what they can, but the snow may obstruct the view.
The cost of an inspection can vary depending on your location. Getting a variety of prices from different licensed inspectors can help you find the best deal in the area. While the cost may make you want to skip out on an inspection (with all the money you are spending to by the house, one more cost can feel enormous), not getting one can really hurt your wallet later on. Major structural issues, leaks, and toxins can cost big bucks to fix.
A multi page detailed report will be created based on the inspection, including recommendations. This should be reviewed carefully to estimate the amount of work that will be involved in maintaining and/or fixing the house. While that roof the report mentioned isn’t leaking today, if the inspector mentioned that it may need to be replaced soon, figure it will. Then of course, there are more immediate areas that may need attention, that you will have to plan on addressing right away.
Finally, if there are major issues with the house, you can negotiate this into your offer. All offers should be made contingent on the inspection, so that once the inspection is done, the offer can change. So if that roof is already starting to leak, you can bring down the offer price to be able to put money towards a new roof right away.
No matter if you are buying a year old home, or one from 1950, a home inspection is a must when making an offer. Skipping the inspection will only increase the risk of damage to your finances down the road. Better safe than sorry!