If you are new to the home buying process, one experience you’ll never forget is the seemingly endless amounts of check writing. You’ll shell out cash for a number of things, including an earnest money deposit, pest inspection, wind mitigation inspection, as well as a home inspection. Additionally, you’ll pay closing costs, moving expenses, and plenty of miscellaneous items will also pop up. It’s enough to cause you to seriously consider skipping the home inspection to keep costs in-check. But, you’ll probably regret doing so for a number of reasons.
4 Reasons not to Skip a Home Inspection
The home inspection is a powerful opportunity to learn about the true condition of a house. The fact of the matter is, some sellers will attempt to hide problems, ranging from small to large. You need this level of scrutiny, not only for more peace of mind, but also, to be in-the-know. After all, you’ve likely lived in a house where a problem existed for some time but you only learned about it through a fluke or after it became quite large.
Real estate experts advise getting a home inspection before you close on a property. “This is the single largest investment a buyer is likely to make in their lifetime, and the home inspection is like getting a physical checkup on the house,” says Cara Ameer, broker associate at Coldwell Banker Vanguard Realty Inc. in Ponte Vedra Beach, Florida. “As a buyer is walking through the home, all you can see is what’s visible to you. A home inspector shows what is visible and invisible to the untrained eye.” —U.S. News and World Report
And, it’s also important to know the difference between a home appraisal and home inspection, particularly if you’re under the impression the valuation is good enough. But a home appraisal doesn’t center around the function of a house, instead, it concentrates on comparable sales and neighborhood to reconcile the agreed purchase price. It isn’t a test of a home’s condition and certainly does not search for material defects. Here are four reasons not to skip a home inspection:
- It provides you with a legal escape. If issues are found on the property through the home inspection, you have a legal right to walk away from the deal. It’s part of the contingency clauses and is a useful one in the face of unpleasant surprises. At the very least, it can act as a negotiation leverage to get a better purchase price or for the seller to make repairs.
- It offers you peace of mind about safety. Most people think about things like the roof, foundation, and plumbing when it comes to a home inspection. While those are included, it also provides you with more peace of mind about safety, including radon, mold, electrical wiring, and carbon monoxide.
- It uncovers unpermitted work. One issue which can constitute a very serious problem is the presence of unpermitted work. If work was done without a permit and you weren’t alerted to it because you did not have a home inspection, you’ve purchased something that doesn’t legally exist — a major headache to avoid.
- It helps to forecast future costs. A home inspection will not only tell you what’s in working condition and which things need attention, you’ll also learn what’s going to need replacement in the near future. For instance, the water heater might only have a few more years left in its average lifespan use.
If you are considering purchasing a house, be sure to schedule a professional home inspection. You also need to consult an experienced real estate profession who knows the Orlando area well to learn more about the local market. Just phone 407-616-7286 to get personal help with your house hunt to find the property that’s right for you.