Welcome to our First-Time Homebuyer Blog Series. We’ve compiled answers to frequently asked homebuyer questions to help you understand the many variables associated with buying your first home. It’s our job to make this process as enjoyable and stress-free as possible for you!
This is a simple answer: YES!
A home inspection is an added level of protection in the homebuying process that ensures you’re not getting stuck with a property that will turn into a money pit. The sole purpose of a home inspection is to reveal whether the building and its systems are in sound working order before you commit to buying a particular home.
If there are outstanding issues, an inspector will provide you with a schedule outlining the estimated costs and a timeline detailing when these repairs should be completed.
Conditions are important
When buying a home, you typically make your offer to purchase conditional upon certain terms. The two most popular conditions are that the home passes an inspection and financing is secured.
Going in firm with an offer (no conditions) is dangerous. If a home inspector finds a series of problems that will cost serious money to fix, with a condition in place, you can decide to withdraw the original sales offer and make a lower offer to accommodate the expected repairs or cancel the sale altogether.
Without an inspection condition in place, however, you’re contractually bound to purchase the property at the price you agreed to pay. And considering buying a home is likely the largest purchase you’ll make throughout your lifetime, foregoing a home inspection is not worth the potential risks you could face.
It’s often difficult to simply eyeball a property and determine everything’s okay. Inspectors are trained to see what homebuyers can’t. It’s their job to help advise and protect you from major issues that could end up costing you a lot of money.
Home inspectors are professionals who look at properties every day and know the ins and outs of pretty much anything that could go wrong with things such as the roof, foundation, electrical, plumbing and so much more.
And when things go wrong with a house, they can prove extremely expensive – especially when pertaining to the home’s structural integrity.
Do you have questions about home inspections or other considerations to make when buying a home? Answers are just a call or email away!