A flurry of postings, neighborhood reconnaissance, and open houses may make finding a new home an exciting experience. There’s a lot to think about! You want a house in a terrific neighborhood, with a beautiful kitchen and a nice yard, and it has to be within your budget.
Then it all comes together, and you believe you’ve discovered your ideal home. But hold off on going “under contract” for the time being! To begin, make sure your contract has an inspection contingency. You’ll save a lot of time and money in the long run if you do it this way.
You’ll need to have your future home properly assessed by a trained engineer or a registered inspector once you’ve signed a contract. The inspector will thoroughly assess the entire house from top to bottom, examining for functionality and any faults in the systems, structure, and equipment.
A home inspection can cost several hundred dollars, but it can save you thousands of dollars in the long run. Learn everything you can about the house’s general condition before you formally become the new owner.
Here are seven reasons why you shouldn’t skip a house inspection:
1. Look For Deal-Breakers
A home may appear to be perfect on the outside, but it may have severe structural or technical flaws with its wiring, roof, HVAC system, plumbing, and other systems. A good home inspection will tell you all you need to know about a house before you buy it.
You may want to walk out of the agreement if the examination reveals any major issues that would necessitate extensive maintenance or costly repairs. Pre-Listing Home Inspections in your contract allow you to opt-out even after the contract has been signed.
If the inspection reveals serious flaws, but you love the house too much to walk away, you can request that the seller address the issues before the closing date. Major repairs are normally covered by the seller, or the buyer is given a credit for managing the repairs themselves.
2. Concerns About Safety
The existence of dangerous compounds such as radon, carbon monoxide, and mold can be discovered during an inspection. Before you sign the papers to buy the house, look for these dangers. You don’t want to be caught off guard once it’s too late.
3. Prepare For Future Pricey Repairs
The systems and equipment of a home may appear to be in fine operating order when they are in fact on their final legs. A professional inspector can assess the age and condition of the home’s systems and equipment, as well as an estimate when they will need to be fixed or replaced.
This may not be significant enough for you to cancel the contract, but it will help you budget for a major repair in the future. Alternatively, you might be able to utilize it to bargain for a better price.
4. Reveal Any Unauthorized Additions
It’s possible that the fantastic rec area in the basement of your future new home was constructed illegally. An inspection will look for rooms, garages, and basements that have been added or finished without following the law or acquiring the necessary licenses.
Having an unlawful extension in your home means you have the land that doesn’t belong to you. This can get you in issue with your home insurance and property taxes, as well as make it harder to work on certain parts of your home.
If a house inspection reveals any illegal improvements, you have the option of asking the seller to secure the necessary licenses right away, using this knowledge as a negotiation point, or opting out of the transaction.
5. Getting Insurance Is Simple
Many house insurance companies will refuse to insure a home that has not been subjected to a professional inspection. Insurance companies are hesitant to cover a home that is likely to require significant repairs shortly.
6. Learn how to safeguard your financial investment
Arrange to follow the inspector around the house as they finish the job if at all possible. They will be an important resource for you, providing advice and knowledge on how to best maintain your home, its systems, and equipment. Knowing how to properly care for your home over time can save you thousands of dollars.
7. Make A Deal
The majority of home inspections will find several issues. If these issues are modest enough to keep you interested in acquiring the house in its current state, you can use them as negotiating chips to lower the purchase price.
It’s never a good idea to forgo a home inspection, no matter how wonderful your dream home appears.
If you want a perfect house and looking on the market, call and book an appointment with Home Inspection Ottawa. We are always there for you.