7 Reasons You Need a Home Inspection
Having a home inspection carried out at your property is a smart move, it means that you can get ahead of any problems. Here are seven reasons you need one.
You’re on the cusp of purchasing a home. You want to close the deal before someone swoops in and undercuts you. So, you’re wondering: do you really need a home inspection? The answer is: Yes.
Though you could certainly purchase the home without first having it inspected, you would be foregoing a variety of benefits. For this reason, a home inspection is generally recommended.
Wondering what types of benefits one could offer? Then don’t stop reading now. Here are 7 reasons you need a home inspection.
1. To Ensure That You Don’t Waste Substantial Amounts of Money
A home purchase is a huge investment. It’s not something that you should take lightly. And though the home may look perfect at first glance, it could have a number of underlying issues.
This is one of the many reasons that you need a home inspection. An inspection will catch trouble spots, informing you as to the amount of money that you must put into the home after it’s purchased. In other words, an inspection will ensure that you don’t waste substantial amounts of money.
Should your inspector catch a problem with your prospective home, you’ll have two options: 1. negotiate the purchase down to a lower price, or 2. look for a different home entirely. Either way, you’ll be able to maintain your financial footing.
2. To Gain Leverage in the Transaction
At its core, a home purchase is a negotiation. Sure, a home may be listed at a certain price, but that certainly doesn’t mean that’s what it will sell for. Your goal, as the buyer, is to get the price down as low as possible.
But how do you convince the seller to lower the price? One of the keys is to facilitate a home inspection and use discovered trouble spots as leverage in the negotiation.
For instance, maybe you’ll find that the HVAC system needs repairs. If so, you’ll likely be able to get the seller to knock a few thousand dollars off the purchase.
Maybe there’s water damage somewhere in the home? If so, you might be able to save tens of thousands.
3. To Know What You’re Up Against
Some homes are ready to be lived in. Other homes require extensive repairs. Many homes exist somewhere in the middle of this spectrum.
In any case, it’s nice to know what you’re up against. That way, you can start budgeting money accordingly. A home inspection will aid you in this endeavor.
Let’s say that, during the inspection, it’s found that the toilet is near its end. If so, you’ll know that you need to save money for a new toilet in the near future. This will prevent you from overspending on other items, ultimately keeping your budget under control.
The last thing you want is to go blindly into a home purchase. All sorts of things could be lurking around the corner, many of which could do serious damage to your bank account.
4. To Discover Any Safety Hazards
Old homes can incur a great deal of deterioration. Over time, this deterioration can create a variety of different safety hazards.
While some of these hazards will be obvious to the untrained eye, many of them will not be. This is another reason that a home inspection is necessary. It could assist you in catching potential safety hazards.
5. It’s Extremely Cost-Effective
You may be under the impression that a home inspection is expensive. However, when compared to the price of the home you’ll be purchasing, it’s really just a drop in a bucket. And when you consider that it could save you thousands of dollars in repairs, it’s actually quite cost-effective.
Most home inspections cost between $485 to $985. Yes, that’s money out of our pocket, but it’s money that you’re essentially adding to the price of your home. So, if you’re paying $900,00 for your home without the inspection, you’ll be paying $900,985 for your home with the inspection.
You’re already paying various other closing costs, most of which don’t offer you any additional value. This one does and a great deal of it at that. Don’t get thrifty now.
6. To Prevent Yourself from Being Backed Into a Corner
When you put a bid in on a house, you are committing yourself to the transaction. Not only will the seller be expecting you to purchase the home, but so too will the law. Because of this, you’ll be expected to finalize the purchase.
But what if you change your mind? Will backing out of the purchase leave you liable to legal action? It very well could.
However, if an inspection was performed and trouble areas were found, you would have just cause to back out of the transaction and likely wouldn’t face legal repercussions. So, in other words, by having the home inspected, you prevent yourself from being back into a corner.
7. To Determine Where the Home is in Its Maintenance Cycle
All homes require maintenance. This maintenance runs the gamut from HVAC replacements to foundation crack repairs to painting to flooring to roofing and more. As you probably know, each of these tasks requires quite a bit of money.
So, to know how much money you’ll need to put toward the house in the near future, you need to have it inspected. An inspection will determine where the home is in its maintenance cycle, allowing you to properly prepare your budget and ask for cost reductions as needed.
In Need of a Home Inspection in San Francisco?
Are you convinced? In need of a home inspection in the San Francisco Bay Area? If so, we here at Golden Gate Home Inspections are the people to see.
We’re well-versed in the inspection of residential properties, having inspected thousands of them throughout the San Francisco area. We’ll ensure that your purchase is really what it seems.
Contact us today to schedule an appointment!